SETTLE, an Egypt-based B2B payment platform, has raised $2 million in pre-seed funding to enhance business financial operations. The investment aims to expand SETTLE’s global footprint and integrate real-time financial data tools, revolutionizing how businesses manage payments and treasuries.
stc pay has introduced the Corporate Prepaid Card in Bahrain, designed to offer businesses enhanced financial control and efficiency. This new solution includes features like attractive cashback on transactions, advanced security, and global acceptance, further establishing stc pay as a leader in the fintech sector.
CBI Governor Ali Al-Alaq announced that Iraq is set to surpass its neighbors in digital banking. With applications from over 70 banks for digital operations, Iraq embraces AI and big data to enhance financial services, expecting transaction volumes to reach $7 trillion by 2027.
PTCL partners with Mastercard to launch a versatile UPaisa debit card, enhancing digital payments across Pakistan and globally, with improved security and convenience.
Saudi Minister of Commerce, Majid Al-Qasabi, highlighted the growth of the e-commerce sector, fintech advancements, and support for SMEs, emphasizing the Kingdom’s focus on innovation and digital empowerment.
AfICTA and EiTESAL are supporting Egyptian and African IT firms to join the 24 Fintech conference in Riyadh, Saudi Arabia, from September 3 to 5. This event, crucial for financial technology across Asia, Europe, Africa, and the Middle East, aligns with Saudi Arabia’s Vision 2030 for digital transformation and offers substantial networking and showcasing opportunities.
Mastercard has partnered with Scale to accelerate fintech growth across Africa and the Middle East. The collaboration aims to eliminate technical and commercial barriers for fintechs, PSPs, and telcos, enabling them to focus on core business and launch new products efficiently. The partnership benefits financial institutions, merchants, governments, and consumers by enhancing financial inclusion and access to digital services.
Yuze, a UAE-based FinTech, raised $30 million in a funding round led by Osten Investments to expand its financial services for SMEs, e-traders, and freelancers. The investment will support Yuze’s growth into new markets, aiming to reach one million customers in five years, and advance financial inclusion for SMEs.
Kuwait has launched securities-based crowdfunding platforms to diversify financing for small projects through licensed digital platforms. This initiative, led by the Capital Markets Authority, marks a significant step in advancing Kuwait’s financial markets, promoting fairness, competitiveness, and transparency, and supporting the country’s digital infrastructure and entrepreneurial growth.
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.
