Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
The UAE leads the GCC in lowest cash usage, reflecting rapid fintech adoption and strong national strategies to modernize payments, though global disparities show many countries are far behind the shift to cashless economies.
Sri Lanka’s GovPay platform has connected 50+ government organisations, processing thousands of digital transactions and advancing the country’s cashless economy vision. Planned expansions include card payments and broader institutional adoption to support a growing digital public infrastructure.
Visa’s research reveals that 25% of transactions in Oman are still made in cash, with P2P transactions and everyday spending being the main areas for cash usage. Despite this, Visa sees an opportunity to promote digital payments through secure solutions, supporting Oman’s move towards a cashless economy.
Mastercard and foodpanda have partnered to boost digital payment adoption in Pakistan, helping the country transition to a cashless economy. The collaboration introduces exclusive discounts for Mastercard users and launches the Payment Switch initiative to convert cash-on-delivery customers to online payments, accelerating financial inclusion and growth in Pakistan’s digital economy.
Comera Pay has launched in the UAE, offering an all-in-one mobile payment solution for both individuals and businesses. The app features a range of services, including digital wallets, P2P transfers, remittances, and bill payments, with an emphasis on security and user-friendly transactions to foster a cashless economy.
Mastercard is advancing a digital payment initiative in Bangladesh, highlighted by their “Stunning Sydney 2024” campaign, aimed at reducing cash transactions. The campaign, encouraging digital payments during Eid-ul-Adha, aligns with Bangladesh’s goal to transition towards a cashless society.