Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
FRiENDi Mobile has launched FRiENDi Pay, a mobile wallet service in Oman, enabling local and international money transfers, bill payments, and wallet top-ups. The service also supports remittances to countries like India, Pakistan, and the Philippines. It is fully compliant with Oman’s financial regulations and offers encrypted transactions.
Pakistan’s insurance penetration remains low at 0.8% of GDP, leaving many vulnerable to financial shocks. However, fintech innovations by companies like Jazz and JazzCash are helping bridge the gap, with millions of policies distributed daily. By leveraging digital infrastructure, Pakistan can move closer to universal insurance coverage.
Mastercard has partnered with Bahrain’s Tamkeen to launch the first Mastercard Strive program in the Middle East, aimed at enhancing financial and digital readiness for SMEs in Bahrain. This collaboration will support entrepreneurs by providing access to digital tools, capital, and networks, fostering growth and innovation in Bahrain’s SME sector.
Nqoodlet, a Saudi-based fintech platform, raised $3 million in seed funding to enhance its financial management tools for SMEs in the GCC. The platform helps SMEs streamline operations and achieve significant cost savings, aligning with Saudi Arabia’s Vision 2030 to foster SME growth and financial inclusion.
Klivvr has received approval from Egypt’s Financial Regulatory Authority to launch its Buy Now, Pay Later (BNPL) service. The product, integrated into Klivvr’s app, offers flexible credit options for users, providing instant approvals and transparent credit management. This move positions Klivvr as a leader in Egypt’s digital lending market.
Fawry has partnered with Microsoft to integrate Microsoft 365 solutions with its financial services to accelerate digital transformation for SMEs in Egypt. This collaboration provides a comprehensive suite of digital and financial tools, enhancing efficiency and business growth, with support from KlayyTech for seamless implementation.
Prepay Nation has partnered with OIFC Khedmah to offer Oman’s users access to a wide range of global prepaid services via the Khedmah app. The partnership includes mobile recharges, digital gift cards, and entertainment subscriptions, supporting financial inclusion and efficient international transactions in Oman.
Orange Tunisia and Flouci have partnered to enhance mobile payment services. Orange customers can now top up their mobile and internet plans instantly through the Flouci wallet, integrated into the Max It app. This collaboration aims to expand digital payment solutions, offering a secure and user-friendly experience.
Paytm’s parent company, PCTL, has launched Paytm Arab Payments in the UAE as part of its global expansion. A Paytm unit has approved an AED 8 million investment to acquire shares in the new entity, marking a strategic move to strengthen Paytm’s presence in the Middle East.
Chari, a Moroccan retail-tech startup, has partnered with Visa to enhance financial inclusion and innovation in Morocco’s fintech ecosystem. The collaboration aims to expand Visa’s presence, facilitate digital payments, and integrate more merchants into the formal financial system, contributing to a more inclusive and accessible economic landscape.