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.
Madayn has partnered with Sadad Electronic Payment Gateway to introduce electronic payment services for investors and business owners. This agreement includes installing self-service payment machines at Masar Service Centres, promoting digital transformation, and enhancing user experience. The partnership also involves training national cadres and providing maintenance opportunities for SMEs.
HSBC has launched Omni Collect, a new e-commerce digital payment platform in the UAE, in partnership with Saudi-based FinTech Geidea. Omni Collect allows HSBC business clients to access card receivables and gain insights into collections data, simplifying payment processes across multiple channels and enhancing business decision-making.
ZainCash has implemented Temenos core banking and payments solutions to enhance its digital services in Iraq. The platform will help ZainCash scale rapidly, offer new services, and promote financial inclusion by reaching 3 million users, including the unbanked population, by the end of the year.
e-finance has acquired stakes in Al Ahly Momken (25%) and EasyCash (13%) to expand its digital payments presence in Egypt, supporting Vision 2030. This partnership aims to leverage e-finance’s technology to develop innovative payment solutions, enhancing services for over 90,000 merchants and 5 million customers.
Taly, backed by Banque du Caire, is set to launch new digital payment platforms for corporate and individual users as part of its expansion strategy. The company, which already provides payment solutions to merchants, is enhancing its services with a focus on digital transformation and security, and aims to significantly increase its customer base and transaction volume.
