Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
LuLu Exchange has partnered with Fintech Galaxy to improve cross-border payments in Bahrain by leveraging open banking solutions. This collaboration aims to enhance transaction speed, security, and convenience, aligning with Bahrain’s financial inclusion goals. The partnership positions LuLu Exchange as the first licensed company to integrate open banking for payments.
Yuze, a UAE-based digital business banking platform, is set to expand into India in Q2 2025. The platform will offer SMEs and freelancers in India tailored financial solutions, including digital accounts, automated invoicing, and expense tracking tools. Yuze aims to support financial inclusion and business growth in India’s digital economy.
Easypaisa has become Pakistan’s first Digital Retail Bank after receiving approval from the State Bank of Pakistan. This transition from a microfinance bank to a digital bank marks a significant milestone in the country’s financial services landscape, offering comprehensive banking solutions entirely online to millions of Pakistanis.
Visa’s research reveals that 25% of transactions in Oman are still made in cash, with P2P transactions and everyday spending being the main areas for cash usage. Despite this, Visa sees an opportunity to promote digital payments through secure solutions, supporting Oman’s move towards a cashless economy.
Bangladesh is leading mobile money adoption in South Asia, with bKash driving growth in financial inclusion. The GSMA report highlights the country’s 18% annual growth in mobile money users, and bKash’s significant contributions to the global mobile money sector, especially in remittances.
Qi has launched its groundbreaking 3rd Generation App, SuperQi, in Iraq, integrating digital banking and a super app. The app, developed with Ant International and powered by Alipay+, offers diverse services such as payments, transfers, and loans. SuperQi aims to drive financial inclusion and modernize Iraq’s economy.
Mastercard is driving digital payment innovation across Egypt, Iraq, and Lebanon through strategic partnerships, advanced technologies like tokenisation, and fintech collaborations. The company is enhancing financial inclusion, promoting secure transactions, and strengthening cybersecurity, ensuring a resilient digital payment ecosystem while contributing to the region’s economic growth and transformation.
eSewa celebrates its 16th anniversary in 2025, marking its pivotal role in transforming Nepal’s digital economy. From a beta launch in 2010, it now offers over 2,000 services, impacting millions of users. Future plans include saving and investment options, enhanced fraud detection, and expanding financial inclusion across Nepal.
Mastercard and foodpanda have partnered to boost digital payment adoption in Pakistan, helping the country transition to a cashless economy. The collaboration introduces exclusive discounts for Mastercard users and launches the Payment Switch initiative to convert cash-on-delivery customers to online payments, accelerating financial inclusion and growth in Pakistan’s digital economy.
Raseedi has acquired Kashat, owner of Pharos Microfinance S.A.E., to expand its product offerings by introducing instant loans for Egypt’s underbanked population. This acquisition enhances Raseedi’s daily fintech app and leverages its credit scoring algorithm to offer quick, digital loans to small business owners, driving financial inclusion.