Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
The collaboration between a leading local telecom operator and a global tech giant highlights the increasing convergence of connectivity and fintech in emerging markets. By providing a “one-stop” digital ecosystem, the partners intend to drive the growth of the cashless economy while ensuring the platform can handle the massive transaction scales required for a nationwide rollout.
Mobile apps accounted for 81 percent of Pakistan’s digital transactions in FY2024–25, as digital payments surpassed Rs. 55 trillion in value. Strong growth was also recorded in Raast payments, card usage, and digital banking, highlighting the country’s accelerating shift toward mobile-led financial services.
Rupali Bank PLC has launched its modern mobile banking service ‘RupaliCash’, offering e-KYC accounts, fund transfers, salary payments, bill pay, and digital transactions. As the only state-owned bank with its own mobile financial service, Rupali Bank aims to expand financial inclusion and enhance customer convenience nationwide.
Cashee, a mobile banking app for kids and teens, is set to launch in Saudi Arabia. The app, backed by Arab National Bank, offers financial education and a prepaid Visa card to youth aged 6-18. Cashee’s goal is to help young people develop better money management habits.
Bangladesh’s mobile financial services (MFS) reached a record-breaking Tk 1.64 trillion in transactions in December 2024. The country’s total mobile banking transactions for 2024 were Tk 17.37 trillion, marking a 28.42% increase compared to 2023. MFS accounts also grew significantly, reaching 238.6 million by December 2024.
Nepal’s digital payment systems have surged, driven by mobile and internet banking, QR codes, and faster payment methods. The shift from traditional payment options like cards and cheques is clear, aided by increased internet penetration and government initiatives. This transformation signals a move toward a more digital economy.
Kuwait Finance House (KFH) has expanded its digital services through the KFHonline app, introducing features like instant money transfers, online financing requests, and banking card management. With over 150 services on the app and additional services at smart branches, KFH is enhancing customer convenience and leadership in digital banking.
Pakistan’s digital payments surged by 9% in Q1 FY25, with mobile banking and e-commerce leading the way. The Raast system’s success highlighted the shift to digital wallets and mobile platforms. With continued growth in digital services, Pakistan is on track to enhance financial inclusion and drive economic development.