Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Fuze has received approval from the Central Bank of the UAE for a Retail Payment Services and Card Schemes license. This allows the company to offer advanced payment solutions, including AI-driven compliance, virtual IBANs, and real-time transactions, aligning with the UAE’s Digital Economy Strategy to drive financial innovation.
Visa has launched Visa+ in Bahrain, allowing users to send money across the GCC using only a mobile number. The service, available through Benefitpay and supported by Bahrain Islamic Bank and Khaleeji Bank, simplifies cross-border transfers, enhances security, and paves the way for further expansion across the region.
Khaleeji Bank has launched Visa+, a service allowing users to send money to Visa cardholders across the GCC using only a mobile number. This innovation enhances security and convenience, eliminating the need for sensitive account details. Visa+ supports peer-to-peer payments, loan disbursements, and cross-border remittances.
HPS, a Moroccan payment solutions provider, plans to acquire a fintech firm before 2027 to accelerate growth. The company, which saw a 6.4% revenue increase in 2024, aims to expand its capabilities, particularly in AI and digital currencies, while continuing its strong presence in Africa, Europe, and the Middle East.
Visa has launched Visa+ in Bahrain, enabling seamless cross-border money transfers using only mobile numbers. Initially available through Bahrain Islamic Bank and Khaleeji Bank, the service enhances security, convenience, and speed for transfers within the GCC. This marks a significant step in Visa’s efforts to transform global money movement.
Checkout.com plans to launch card issuing services in the UAE by 2026, pending regulatory approval. The service will enable businesses to offer branded physical and virtual cards, streamline B2B payouts, and manage expenses. Checkout.com continues to expand in the MENA region, enhancing its digital payment solutions and partnerships.
Qatar Central Bank has introduced the ‘Multiple Wallets per Mobile Number’ feature in the Qatar Mobile Payment system, allowing users to open two wallets under different payment service providers. This initiative enhances user experience, supports competition and innovation, and promotes financial inclusion in line with the Third Financial Sector Strategy.
PayTic, a Moroccan fintech startup, has raised $4 million to expand its payment automation solutions into North and Sub-Saharan Africa. The funding will support the company’s mission to streamline payment processes for card issuers, including reconciliation and chargeback management, tapping into Africa’s growing digital payments market.
e& Egypt has introduced an instant cross-border remittance feature in its digital wallet, allowing users in Egypt to receive money from the UAE and Saudi Arabia. This service, developed with Banque du Caire, aims to streamline financial transactions, enhance financial inclusion, and reduce reliance on cash in Egypt.
Robi and Airtel users can now link their bKash accounts to the “My Robi” and “My Airtel” apps for easy, PIN-free payments. bKash has also become a preferred payment partner, allowing customers to purchase plans and open bKash accounts directly within the apps, enhancing digital payment convenience and security.