Saudi fintech start-up Barq has quickly gained traction since its launch, offering a financial app for global money transfers and Visa cards with various perks. With over $133 million transferred and 1 million users onboarded, Barq is revolutionizing the fintech landscape in the region.
Zeebu, a Web3 payments platform for telecom, partners with SilentSwap, a privacy-focused cross-chain aggregator, to enhance transaction privacy and security. This collaboration integrates SilentSwap’s technology into Zeebu’s blockchain solutions, setting new standards in telecom settlements and DeFi. The partnership aims to offer a secure, decentralized application for global transactions.
BANK OF AFRICA has partnered with Mastercard to accelerate the digitalization of payments in Morocco. This collaboration aims to enhance the bank’s card portfolio, launch innovative solutions, and promote financial inclusion. The partnership leverages Mastercard’s expertise to support BANK OF AFRICA’s offerings and contribute to the growth of Morocco’s digital payments ecosystem.
The State Bank of Pakistan’s Q3 FY 2023-24 report shows digital transactions comprising 83% of total retail payments, with 844 million transactions worth PKR 128,470 billion processed by banks and EMIs. Mobile and internet banking saw significant growth, and Raast processed 140 million transactions worth PKR 3,437 billion, highlighting rapid digital adoption.
E-wallet usage in Jordan increased by 6%, reaching 2.17 million users, according to the Central Bank of Jordan. Eight payment companies and 19 banks facilitate digital transactions. E-wallets offer security and convenience, particularly popular among younger users, although some users find they spend more due to losing track of expenses.
stc pay Bahrain achieved PCI DSS v4.0 certification, highlighting its commitment to secure digital payment transactions. The rigorous audit by a Qualified Security Assessor ensured compliance with global standards. This milestone reinforces stc pay’s position as a leader in the digital payment landscape, providing customers with a secure and reliable financial platform.
stc pay Bahrain has achieved PCI DSS v4.0 certification, the latest global security standard for protecting payment card data. This certification highlights stc pay’s commitment to providing a secure digital payment experience. The rigorous audit ensures compliance and enhances customer trust, solidifying stc pay Bahrain’s leadership in the digital payment landscape.
Sri Lanka has become the fastest adopter of digital payments in South Asia, with a 20% increase in digital transactions since 2019. Visa Corporation highlights significant growth, particularly in tap-and-pay transactions. Despite high consumer spending, there remains a need for education on cashless payments for merchants and consumers.
Dopay secures $13.5M to expand its digital payroll platform for unbanked workers in Egypt, aiming to enhance financial inclusion and launch new services.
Algeria’s “Switch mobile” project enables instant interbank transfers and account-to-account payments via QR codes, connecting bank and Algeria Post applications. This initiative, part of the National Electronic Payment Strategy, aims to enhance financial inclusion and modernize payment methods in Algeria.
