Fawry expands its digital payment services by acquiring a majority stake in Svreico’s administrative building, enhancing facilities and infrastructure to support its growth.
Dubai-based fintech startup Ziina has raised $22 million in a Series A funding round to accelerate its growth and expand product offerings. The company, known for its innovative payment solutions, plans to use the funds to develop new features and explore market expansion in the UAE and beyond.
Riyadh Air, Saudi Arabia’s new airline, has partnered with noon Payments to offer secure and efficient digital payment solutions. This collaboration enhances the travel experience by providing multiple payment options and industry-leading features, reflecting Riyadh Air’s commitment to innovation and supporting Saudi Arabia’s broader economic and technological goals.
The UAE’s new Jaywan payment platform, backed by Al Etihad Payments, is set for a full rollout in Q4-2024, offering lower-cost debit and prepaid card options. Supported by banks, e& UAE, and du, Jaywan aims to provide significant savings and tailored rewards for UAE consumers, enhancing both online and in-store payment experiences.
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.
