Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Telecom companies are expanding into fintech, offering digital wallets, cross-border payments, and financial services. By leveraging customer data and payment infrastructures, they are enhancing financial inclusion and creating seamless, secure financial experiences. This collaboration between telecom and fintech sectors is transforming the digital economy and offering new growth opportunities.
Nepal’s digital payment landscape is growing rapidly, with QR code transactions increasing by 230% in volume and 210% in value from FY2021–2024. Mobile banking and digital lending are also expanding, while cross-border payments with India and China are growing. This digital transformation supports financial inclusion and economic growth.
e& Egypt has launched its first international mobile transfer service, allowing users to send and receive money instantly via the e& Cash wallet app. Initially available for transfers between Egypt, the UAE, and Saudi Arabia, the service simplifies cross-border remittances and contributes to Egypt’s growing financial inclusion.
Al Ansari Financial Services has completed its $200 million acquisition of BFC Group Holdings, expanding its market leadership in the Gulf region. The acquisition increases its customer base by 29% and branch network by 60%, while enhancing its digital and AI capabilities to further strengthen its position in financial services.
Saudi Awwal Bank and United Pharmaceuticals have completed Saudi Arabia’s first digital Islamic supply chain finance transaction. The initiative streamlines payments and enhances working capital management for suppliers through a Shariah-compliant, automated platform. This marks a significant step in integrating Islamic finance and digital transformation in the Kingdom.
PayTic, a Moroccan fintech startup, has secured $4 million in funding to enhance its payment automation solutions and expand into North and Sub-Saharan African markets. The investment will help the company address the growing demand for efficient payment processing in Africa’s rapidly expanding digital payments economy.
Haball, a Pakistani fintech offering shariah-compliant supply chain finance solutions, raised USD 52 million in pre-Series A funding. The round, led by Zayn VC and Meezan Bank, will support Haball’s expansion into Saudi Arabia and the GCC, addressing the region’s demand for digital financial services for SMEs.
Global Brand PLC has partnered with Hyosung TNS to advance banking technology in Bangladesh. This collaboration focuses on deploying ATMs and banking kiosks to enhance customer experiences and promote economic inclusion. The partnership combines local expertise with innovative financial technology solutions to transform Bangladesh’s banking sector.
PayTabs has launched a platform to help SMEs accept digital payments securely and efficiently. With features like payment links and QR codes, the platform streamlines transactions and enhances business workflows. This collaboration with Mastercard advances Egypt’s digital payments sector and promotes financial inclusion for SMEs across the region.
e& Egypt has launched its first instant international money transfer service through the e& Cash digital wallet, allowing users in Egypt to receive remittances instantly and securely from the UAE and Saudi Arabia. This initiative enhances financial inclusion and simplifies cross-border transfers, supporting the country’s push towards digital financial solutions.