Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Arab Financial Services (AFS) has partnered with Ternoa to launch Athar, a decentralized payment network using stablecoins. The initiative aims to simplify crypto payments for everyday transactions in the UAE, enhancing the adoption of digital payments and bridging traditional finance with decentralized finance, paving the way for a digital payment ecosystem.
Basata has increased its stake in MadfoatCom to 25%, strengthening its role in advancing digital payments and financial inclusion in Jordan. The partnership, backed by Jordan Kuwait Bank and the Social Security Investment Fund, focuses on enhancing digital payment solutions, money transfers, and supporting SMEs through financial tools.
Nepal Telecom has urged customers to use mobile data for digital payments instead of public WiFi, citing security risks. Public WiFi exposes users to fraud and hacking, while mobile data offers a more secure option. NTC also offers affordable data packs to encourage safer transactions.
Basata Holding has increased its stake in MadfoatCom to 25%, aiming to accelerate digital financial inclusion and enhance digital payments in Jordan. The partnership will focus on scaling digital payment services and supporting SMEs with financial tools. The collaboration involves key Jordanian financial institutions, including Jordan Kuwait Bank.
Visa has launched the Tap-to-Add Card technology in Jordan, allowing users to securely add Visa contactless cards to digital wallets with a tap. This innovation simplifies digital payment processes, enhances security, and encourages the adoption of digital wallets in Jordan, benefiting both consumers and the payments ecosystem.
Entlaq, in collaboration with the Netherlands Enterprise Agency (RVO) and the Embassy of the Netherlands, launched a Fintech Report highlighting Egypt’s growing financial technology sector. The report outlines key trends, challenges, and opportunities, positioning Egypt as a leader in MENA’s fintech space and emphasizing the importance of financial inclusion.
Bangladesh’s mobile financial services transactions are projected to exceed Tk 25 lakh crore by 2025, reflecting the rapid growth of digital financial services. The Bangladesh Bank has upgraded its RTGS system and is working on a mobile interoperability platform to further enhance financial accessibility and security.
PLDT Global has partnered with stc Pay Bahrain to offer enhanced digital financial services to Filipinos in Bahrain. The collaboration integrates PLDT Global’s digital vouchers, bill payments, and mobile top-up services into stc Pay Bahrain’s app, expanding the range of services available to the Filipino community.
Iraq’s Economic Ministerial Council, chaired by Fuad Hussein, discussed key topics, including progress on the Grand Faw Port project, the expansion of digital payments in Iraq, and strategies to address the parallel economy. The council also reviewed the status of livestock health amid a foot-and-mouth disease outbreak.
omnispay, a UAE fintech, has raised $1.5 million in seed funding led by Mercatus Capital. The company offers an all-in-one platform to simplify SME cash flow management, combining collect, pay, and borrow features. The funds will accelerate its mission to drive digital adoption and empower SMEs in the GCC region.