BankDhofar partners with Entrust to implement Digital Card Solution (DCS), enabling Tap to Pay and tokenization services through its Dhofar-Pay app. This makes BankDhofar one of the first in Oman to launch such services, with plans to expand into digital wallets like Apple Pay and Samsung Pay soon.
Gulf Strategic Solutions and Festipay have partnered to enhance cashless payment technology for events across the Middle East. This collaboration focuses on developing integrated cashless solutions for major events, following their success at the Bahrain Grand Prix and other prominent events.
Tam Bank, Kuwait’s first Sharia-compliant digital bank, showcased its innovative services for youth during a workshop hosted by KFH’s PR Academy. The bank highlighted its digital offerings, seamless mobile application experience, and rewards programs, aiming to enhance the banking journey for young customers.
Dubai-based fintech startup Ziina has raised $22 million in a Series A funding round to accelerate its growth and expand product offerings. The company, known for its innovative payment solutions, plans to use the funds to develop new features and explore market expansion in the UAE and beyond.
Tarabut, the MENA region’s largest open banking platform, has acquired UK-based Vyne, enhancing its real-time payment capabilities. This acquisition enables Tarabut to expand its reach and offer seamless, account-to-account payments across the region, starting in Bahrain and soon in Saudi Arabia and the UAE.
Tabby, a leading buy now, pay later platform, has acquired Saudi-based mobile wallet Tweeq.
Barq, a Saudi fintech led by Ahmed Alenazi, has garnered over 1 million users in just three weeks following its public debut. Licensed by SAMA, the startup offers extensive features including digital personal accounts, Visa cards, and international money transfers, rapidly positioning itself as a major player in the fintech sector.
Bitpanda Technology Solutions has partnered with CoinMENA to enhance crypto asset trading in the MENA region. This collaboration will improve trading efficiency on CoinMENA’s platform and expand the range of crypto assets available to users. Both companies will work closely with regulators to ensure compliance and deliver a seamless trading experience.
Riyadh Air, Saudi Arabia’s new airline, has partnered with noon Payments to offer secure and efficient digital payment solutions. This collaboration enhances the travel experience by providing multiple payment options and industry-leading features, reflecting Riyadh Air’s commitment to innovation and supporting Saudi Arabia’s broader economic and technological goals.
The UAE’s new Jaywan payment platform, backed by Al Etihad Payments, is set for a full rollout in Q4-2024, offering lower-cost debit and prepaid card options. Supported by banks, e& UAE, and du, Jaywan aims to provide significant savings and tailored rewards for UAE consumers, enhancing both online and in-store payment experiences.
