Paytm is expanding its global presence by establishing new subsidiaries in the UAE, Saudi Arabia, and Singapore through its subsidiary, Paytm Cloud Technologies. The move aligns with its strategy to grow in international markets. Additionally, Mobiquest Mobile Technologies is selling its stake in Xceed IT Solutions.
SAMA has announced a partnership with Google to integrate Google Wallet into Saudi Arabia’s payment infrastructure, allowing users to securely manage and use their cards for purchases in stores, apps, and online. The initiative, set for launch in 2025, supports the country’s goal of a less-cash dependent society.
Morocco has seen a significant rise in e-payments, with one-third of all transactions now digital. The country’s digital transformation includes initiatives like the ‘Digital Morocco 2030’ plan and increased adoption of digital wallets, aiming to reduce cash reliance and make payments more accessible to citizens across the country.
Visa has introduced Apple Pay in Egypt, offering a secure and convenient digital payment solution. The service allows Visa cardholders to make contactless payments using iPhones and Apple Watches, and it supports online and in-app transactions. The launch reflects Visa’s commitment to driving digital payment innovation in Egypt.
Raseedi has acquired Kashat, owner of Pharos Microfinance S.A.E., to expand its product offerings by introducing instant loans for Egypt’s underbanked population. This acquisition enhances Raseedi’s daily fintech app and leverages its credit scoring algorithm to offer quick, digital loans to small business owners, driving financial inclusion.
Finhaat is expanding its financial services with the launch of Finhaat Wealth, a tech-driven wealth management platform for distributors and end users. Building on its success in the insurance sector, the platform aims to provide wealth solutions to India’s aspirational and emerging markets, enhancing financial inclusion.
Cairo Amman Bank has partnered with Mastercard to improve cross-border money transfers for its customers in Jordan using Mastercard Move’s capabilities. This collaboration aims to enhance financial inclusion and facilitate secure, efficient payments to 37 countries. The partnership also includes tailored fraud analytics and risk control services.
JazzCash has revealed a three-year roadmap to accelerate Pakistan’s transition to a cashless society, aiming to integrate the informal economy, boost financial inclusion, and increase tax compliance. With nearly 20 million active users, JazzCash is a key player in driving digital payments and expanding its regional footprint.
TESS Payments has partnered with Al Fardan Exchange to enhance digital payments in Qatar. This collaboration aims to improve the efficiency and security of financial transactions, aligning with Qatar’s national vision for digital innovation. The partnership combines fintech innovation with Al Fardan’s industry expertise to advance remittance solutions.
Thunes has integrated PayPal’s Hyperwallet into its Direct Global Network, enabling real-time fund transfers to over 450 million mobile wallets and bank accounts across six APAC countries. This partnership enhances Hyperwallet’s ability to support cross-border payments through Thunes’ extensive network and payment capabilities.
