Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
NPCI International Payments Ltd (NIPL) has partnered with Fonepay to launch UPI-enabled cross-border payments between India and Nepal. Indian consumers can now make UPI payments in Nepal, while Nepalese merchants can accept UPI payments from Indian customers, fostering stronger economic ties and enhancing digital payment integration between the nations.
The Telecommunications Regulatory Authority has warned citizens to avoid SMS and electronic messages that contain links to payment sites, as they may compromise banking card data and lead to financial theft. Payments should only be made through secure channels like commercial bank apps or the “eFawateercom” platform.
The Alipay+ partnership in Sri Lanka enables over 400,000 LANKAQR merchants to accept cross-border mobile payments from tourists using 14 international e-wallets. This initiative supports Sri Lanka’s tourism growth and enhances payment convenience for visitors. The launch is set to drive more foreign exchange and digital transformation in the country.
A new Mastercard report forecasts Africa’s digital payments economy will reach $1.5 trillion by 2030. Key initiatives focus on empowering SMEs, boosting the fintech sector, and enhancing cross-border payments. The report highlights rising internet penetration and financial inclusion, driving Africa’s shift toward digital transaction adoption.
Visa’s latest ‘Stay Secure’ study shows that 94 percent of Kuwaiti consumers are taking extra steps to secure their digital transactions. The study also reveals a significant rise in confidence towards digital payments, with 79 percent of consumers expecting increased usage, despite the growing scope of digital fraud.
Al Ahli Bank of Kuwait-Egypt has partnered with Visa to enhance digital payment solutions in Egypt. The strategic agreement will introduce new products, focusing on innovation and security to cater to diverse customer needs. The partnership aims to boost Egypt’s digital transformation and promote the adoption of electronic payments.
Telr has secured a Retail Payment Services License from the Central Bank of the UAE, enabling it to expand merchant acquiring and payment aggregation solutions within the UAE. This achievement strengthens Telr’s position as a leader in digital payments, providing secure and innovative solutions for businesses across the MENA region.
Sri Lanka’s Central Bank is hosting a digital payments promotion event in Nuwara Eliya to encourage mobile payment app registrations. The event will provide a platform for service providers and MSMEs to showcase mobile payment tools, offering discounts and fostering awareness of secure, cost-effective digital transactions.
Basata Pay is transforming Egypt’s financial landscape by offering secure, user-friendly digital payment solutions. With over 40 million users, the platform connects service providers, merchants, and consumers, allowing seamless payments for various services. Spanning all 27 governorates, it boasts 150,000 points of sale nationwide, driving financial inclusion.
Contact Financial Holding and Fawry have expanded their partnership to integrate Contact’s BNPL service into Fawry’s extensive payment network. The collaboration enhances financial inclusion and supports Egypt’s digital transformation, offering customers more payment flexibility and easier access to digital financial services.