Tagged: digital payments

Contactless Transactions are Expected to Double the Number of Digital Payments to $8.26 Trillion by 2024: Report

Contactless transactions are expected to double the number of digital payments to $8.26 trillion by 2024, which is a key Fintech trend that has been accelerated due to COVID-19. Businesses are increasingly using contactless technology to improve customer experience and help them make secure payments,… Read More

Fintech and Digital Solutions Provider Thales to Assist Commercial Bank of Kuwait with Offering Secure Contactless Payments

Digital solutions provider Thales is reportedly supplying the Commercial Bank of Kuwait (CBK) with its Gemalto Trusted Services Hub (TSH), which will allow the bank’s customers to perform secure contactless payments from their smartphones. According to a release, a tokenization process will be used to… Read More

Mastercard to Allow Consumers to Split Transactions into Small Installments through its Partnership with TSYS, a Global Payments Firm

The global COVID-19 pandemic has led to significantly more consumers looking for better and flexible payment options, meanwhile, payment card issuers and merchants are focused on providing cardholders with the best choices, control and simplicity at the time of checkout. Payments giant Mastercard (NYSE: MA)… Read More

Delivery Hero, a MENA Region Online Delivery Service, Partners Mastercard to Digitize Entire Payments Process

Delivery Hero, a Berlin-based online delivery platform operating in the Middle East, has teamed up with Mastercard in order to digitize its entire payment process across all its products offered to MENA region customers. Delivery Hero app users will have the option to pay for… Read More

Karachi based Fintech Safepay Plans to Become “the Stripe of Pakistan” after Receiving Support from Y Combinator

Pakistani Fintech firm Safepay recently received an investment from Y Combinator and it’s now planning to become “the Stripe of Pakistan.” Karachi-headquartered Safepay has notably become the first Pakistani Fintech to complete Y Combinator’s program for startups. The company was reportedly a part of YC’s… Read More

MENA Region Is Experiencing Strong Revival of Digital Commerce and Virtual Payments Sector, Industry Exec Reveals

The MENA region is reportedly experiencing a strong revival of its digital commerce and virtual payments sector, particularly during the past quarter of this year. This key Fintech trend is expected to continue and also keep up its current growth rate in the coming years,… Read More

Fintech BABB, an FCA Authorized Payment Service Provider, Aims to Make it Faster, Cheaper to Send Money, Now Raising Funds via Seedrs

BABB (Bank Account Based Blockchain), an FCA authorized payment institution, aims to make it easier and cheaper to send cross-border payments. The company uses the latest technology to “bypass” traditional banking networks and costly third-parties to facilitate international fundraising and peer to peer (P2P) transactions…. Read More

London Fintech SatoshiPay Reveals How they’ve Leveraged Blockchain or DLT to Process Real-Time Micropayments for Online Publishers

London-based SatoshiPay, a Fintech firm that aims to provide fast and affordable payment solutions, has revealed that it has reached a key milestone in establishing its blockchain-enabled clearing platform as a “new standard” for cross-border transactions. The SatoshiPay team notes that, as of August 2020,… Read More

Consumer focused Fintech Apps have Acquired More Funding from European Investors, compared to Other Market Segments: Report

European Fintech firms have managed to secure substantial funding, even during the lockdown period that came after the COVID-19 outbreak. They’ve acquired about €2.86 billion (appr. $3.4 billion) in capital between March and mid-August 2020, according to the latest data from Dealroom. There was a… Read More

Klarna Milestone: One Million New U.S. Customers Sign Up For Services During Summer Months

Payment processing platform Klarna announced on Thursday it has added one million new consumers in the U.S. in just three months.  The company reported it has also seen strong growth momentum in its retail partnerships in the US, which have grown by more than 158% year… Read More

UK Fintech Paysend Teams Up with Alipay to Streamline Cross-Border Money Transfers and Promote Financial Inclusion

UK-based Fintech firm Paysend, which focuses on global payments, has revealed that it will be working with Alipay to offer new cross-border money transfer options that aim to bring more seamless and inclusive financial services to consumers throughout the world. Paysend claims that its agreement… Read More

UK Fintech Paymentology, which Offers Cloud based Payments Services, Introduces Global Credit Card Processing Solution

UK-based Fintech Paymentology, a company that offers a cloud-powered payments processing solution, has introduced a global credit card processing platform, called Credit Works. Credit.Works aims to fill a key requirement in the Fintech and financial sector’s credit card processing space which Paymentology claims have lagged… Read More

Pakistani Fintech SadaPay Aims to Bring Modern Financial Services to Country, where 87% of 218 Million Residents are Formally Unbanked

Pakistan still has a very large informal economy, meaning many (or most) transactions are still settled with cash. The majority of the nation’s residents do not have access to a bank account or modern financial services. However, local Fintech and digital wallet solution providers such… Read More

Over 240 Fintech Firms Operating in Indonesia, a Leading Southeast Asian and Global Economy: Report

Indonesia, which has one of the largest economies in Southeast Asia and also ranked high globally, has emerged as a fast-growing Fintech hub. It’s estimated that in the next five years, digital financial services revenues in Indonesia will reach $8.6 billion, meaning they’re increasing at… Read More

Qatar Is Supporting Fintech Development with Sustainable Solar Energy Initiatives, Local Firms Using Blockchain to Streamline Operations

Qatar has been ranked or classified as a high-income economy by the World Bank. Although the Middle Eastern country only has a GDP of around $200 billion (a lot less compared to many trillion-dollar economies), it’s home to just over 2.7 million people so the… Read More

Digital Transformation: Egypt’s Largest Bank Inroduces New Services to Support Virtual Banking following COVID-19 Outbreak

The National Bank of Egypt (NBE), the country’s largest banking institution in terms of total assets, number of branches and employees, has introduced several services via its Al Ahly Net and NBE mobile app, in order to support its digital banking strategy. Hisham Okasha, chairman… Read More

COVID-19 Is Leading to Changes in Consumer Behavior such as Increased Use of Digital Financial Services, Now Supported by Banks, Globally

Countries throughout the world are struggling to cope with the COVID-19 outbreak and resulting socio-economic challenges. Although many places have been trying to re-open for business and lockdowns are being eased, globally, there might be a second wave of the Coronavirus that could lead to… Read More

Checkout.com Signs MoU with Pakistan’s Largest Transactional Clearing Facilitator to Offer Better Digital Payment Options in the Country

Pakistan‘s National Institutional Facilitation Technologies (NIFT) and Checkout.com, the provider of cross-border payments solutions to Fintech firms, have signed a Memorandum of Understanding (MoU). NIFT is Pakistan’s largest transactional clearing facilitator. It provides efficient, cost-effective and automated clearing of financial transactions. Meanwhile. Checkout.com is a… Read More

Achieving Financial Inclusion Is Still a Significant Challenge in Pakistan, According to Fintech Sector Executive, but New Products being Developed

Salman Ali, the chief operating officer at Virtual Remittance Gateway, notes that Pakistan has a population of more than 218 million (one of the highest in the world). He points out that 60% of the nation’s population are adults, however, only 23% of residents have… Read More

Cairo Fintech Paymob Allows SMEs to Launch E-Commerce Sites, Add Online Payments via Digital and Offline Channels

Cairo-headquartered payment company, Paymob has acquired $3.5 million in capital through an investment round that was led by Dubai’s Global Ventures and the Dutch Entrepreneurial Development Bank FMO. Existing investor A15 also took part in the round. Established in 2015 by Islam Shawky, Alain El… Read More

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