Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
LB CIM, Sri Lanka’s first AI-powered digital loan and payments platform, won the “Most Popular Digital Payment Product” at the LankaPay Technnovation Awards 2025. This recognition highlights the app’s popularity driven by customer trust and its innovative features, driving financial inclusion and digital accessibility in Sri Lanka.
Khaleeji Bank has launched Visa+, a service allowing users to send money to Visa cardholders across the GCC using only a mobile number. This innovation enhances security and convenience, eliminating the need for sensitive account details. Visa+ supports peer-to-peer payments, loan disbursements, and cross-border remittances.
eSewa has partnered with Nepal SBI Bank to enable seamless electronic transactions between their users. This collaboration allows Nepal SBI Bank customers to load money into eSewa wallets and vice versa. The partnership expands eSewa’s network to 51 affiliated banks, enhancing Nepal’s digital payment ecosystem.
Moroccan startup PayTic has raised $4 million to expand into Africa, aiming to tap into the continent’s growing digital payments market. The company simplifies back-end processes like chargebacks for banks and card issuers and is well-positioned to leverage Africa’s rising internet penetration and financial inclusion rates.
HPS, a Moroccan payment solutions provider, plans to acquire a fintech firm before 2027 to accelerate growth. The company, which saw a 6.4% revenue increase in 2024, aims to expand its capabilities, particularly in AI and digital currencies, while continuing its strong presence in Africa, Europe, and the Middle East.
Bangladesh’s e-commerce sector is growing rapidly, but the transition to digital payments remains slow due to the country’s strong reliance on cash. To foster growth, efforts are needed to educate consumers, improve infrastructure, and increase merchant adoption of electronic payments, ultimately driving the shift towards a cashless economy.
Visa has launched Visa+ in Bahrain, enabling seamless cross-border money transfers using only mobile numbers. Initially available through Bahrain Islamic Bank and Khaleeji Bank, the service enhances security, convenience, and speed for transfers within the GCC. This marks a significant step in Visa’s efforts to transform global money movement.
Checkout.com plans to launch card issuing services in the UAE by 2026, pending regulatory approval. The service will enable businesses to offer branded physical and virtual cards, streamline B2B payouts, and manage expenses. Checkout.com continues to expand in the MENA region, enhancing its digital payment solutions and partnerships.
Mastercard has partnered with PayTabs Group to provide a digital payment platform for SMEs in Egypt. The platform aims to simplify and secure payment processes, promote contactless payments, and support Egypt’s digital transformation. This collaboration enhances payment acceptance and financial inclusion for businesses in the country.
Checkout.com is expanding its services in the UAE, aiming to launch secure and efficient card issuing services by 2026. The initiative, pending regulatory approval, will enable businesses to issue branded cards, enhance financial control, and simplify B2B payments. The company is also focused on expanding its footprint in the MENA region.