Pakistan’s fintech industry is experiencing rapid growth, with branchless banking accounts increasing significantly. However, low financial literacy remains a challenge, leaving many vulnerable to fraud. Initiatives like the National Financial Literacy Program aim to address these issues, ensuring that the benefits of fintech are accessible to all citizens.
Telr has expanded its services into Jordan and Bahrain, enhancing the MENA region’s e-commerce sector. This move enables businesses to accept online payments and manage transactions efficiently, supporting local enterprises in reaching both local and global markets while contributing to economic growth and digital transformation.
Qatar Central Bank (QCB) has launched the FAWRAN instant payment service through the national e-Commerce Gateway (QPay). This service enables merchants to accept payments without requiring bank cards, offering multiple payment options for customers while adhering to high security standards for local transactions.
The Aani payment platform is transforming digital transactions in the UAE, allowing instant payments for consumers and small merchants. Launched in October 2023, it has enrolled over 1 million customers, making it a cost-effective solution for businesses to accept digital payments easily, enhancing customer engagement and satisfaction.
Mastercard has launched a world-class technology infrastructure in Saudi Arabia to facilitate local e-commerce transaction processing. This initiative aims to enhance the digital payments experience for consumers and partners while supporting the Kingdom’s economic diversification goals and digital transformation efforts in alignment with Saudi Vision 2030.
Hala Payments has joined the Saudi Unicorn Program, enhancing its position in the fintech sector. This partnership provides access to strategic resources aimed at expanding market reach and driving innovation. Hala’s commitment to financial inclusion for SMEs aligns with Saudi Arabia’s Vision 2030 goals, fostering economic growth in the region.
Tuum has partnered with Google Cloud to enhance digital banking services in the EMEA region. This collaboration aims to improve scalability, security, and performance for financial institutions, enabling them to meet modern customer demands. Tuum’s deployment in Saudi Arabia marks a significant step towards supporting cloud-based financial development in the Middle East.
Telr has expanded into Jordan and Bahrain, enhancing ecommerce by providing local businesses with access to secure online payment solutions. This move responds to the growing demand for digital transactions, enabling merchants to reach both local and global markets, and supports the region’s digital transformation.
Riyadh-based fintech HALA Payments has been inducted into the Saudi Unicorns Programme, enhancing its position as a leader in SME banking. The company aims to empower MSMEs and freelancers while contributing to Saudi Vision 2030 through innovative financial solutions and global expansion.
Thunes has expanded its Direct Global Network into Egypt, enhancing its cross-border payment services with mobile wallet and bank account capabilities. This move capitalizes on Egypt’s rapidly growing mobile wallet adoption, projected to reach $3.8 billion by 2028, and aims to support remittance services effectively.
