Apple turns to third parties for ‘buy now, pay later’

Apple turns to third parties for ‘buy now, pay later’ after sunsetting product

The tech giant said its new solution will enable it to bring flexible payments to more users, in more places across the globe

Zand Bank, MANTRA partner to streamline real-world asset tokenisation

The digital bank and MANTRA will develop frameworks for RWA tokenisation that comply with regulations set by the Dubai’s VARA

Crypto Oasis sees ecosystem grow to 2,040 active firms in Q1 2024

Crypto Oasis sees ecosystem grow to 2,040 active firms in Q1 2024

Crypto Oasis said the 13.3 per cent year-on-year increase reflected the overall growth of the industry in the UAE

How the UAE is fostering fintech innovation

How the UAE is cementing its fintech hub status

Jason Hughes, senior executive officer of eToro Middle East tells us that Abu Dhabi offers a supportive business ecosystem and a fertile investment landscape that drives growth

Botim hits Dhs1.3bn transactions in 4 months

Astra Tech’s Botim exceeds Dhs1.3bn transactions in 4 months

PayBy has witnessed a 75 per cent increase in the number of transactions quarter-on-quarter across its fintech offerings

EFG Holding’s Valu to launch in Jordan in early 2024

EFG Holding’s Valu to launch in Jordan in early 2024

The fintech firm said its expansion into Jordan is at an advanced preparation stage

Emirates NBD launches-sustainTech program Dubai Media Office

Emirates NBD launches SustainTech Accelerator Program ahead of COP28

The accelerator programme is accepting applications from September 6 to October 10 this year

ADX and tawasul tieup to provide users realtime stock market updates on the superapp GettyImages-687689274

Abu Dhabi’s ADX, Tawasal SuperApp to offer real-time stock market updates

Tawasal is a secure multi-purpose messenger and super app, which offers free calls, chats, video conferencing and lifestyle services

Top startups

GCC: Top startups to watch in 2023

We shine the spotlight on some of the region’s most prominent startups

Mastercard MTN

Mastercard to buy stake in MTN’s $5.2bn fintech unit

Signing of the definitive investment agreements is expected to occur in the very near term, said MTN chief executive officer Ralph Mupita

Moove

Moove raises $76m with investment from Mubadala, BlackRock

The round brings total funding to over $335m since inception across equity and debt

Dubai’s VARA, DET to establish market assurance standards for virtual assets

The MoU strengthens VARA’s aim to achieve full transparency and market conduct adherence across virtual asset service providers licenced to operate in Dubai

HSBC form JV with fintech Tradeshift image Getty Images

HSBC announces new JV with fintech Tradeshift

The deal will see HSBC make a $35m investment into Tradeshift in two stages and also join its board

Twig

SME story: Interview with Chafic Idriss, Rayan Antonios, Karam El Dik, founders of Twig

We facilitate effective goal planning and provide a user-friendly experience to help individuals achieve their financial objectives

FOO

SME story: Interview with Ghady Rayess, managing director of FOO

Financial services embedded into existing business models are no longer optional, but necessary

Tabby

Dubai buy now, pay later firm Tabby raises debt to $350m

The financing round for Tabby was led by US-based Partners for Growth, Atalaya Capital Management and CoVenture

Brian Armstrong, chief executive officer of Coinbase Global Inc., speaks at the IFGS 2023 summit at the Guildhall in London, UK, on Tuesday, April 18, 2023. Innovate Finance's Global Summit -- part of U.K. Fintech Week -- runs until Tuesday.

Crypto exchange Coinbase weighs UAE as potential international hub

Coinbase has been navigating a market downturn and a difficult US regulatory environment

Karm Legal

Karm Legal’s Kokila Alagh on advancements in virtual assets regulation

VARA has come out with detailed regulations and rulebooks for the virtual assets sector, indicating just how fast things are moving

Regional banks

Should regional banks buy or build their innovations?

In the early years of the digital era, building was the only option, but today the region is strewn with fintechs

Tamara, Goldman Sachs

Goldman Sachs backs BNPL startup Tamara with $150m facility

The facility will help finance the growing demand for bringing the buy now, pay later products in the GCC while continuing its growth across new verticals

saudi arabia GDP

Tarabut Gateway partners with Saudi’s micro-lending firm Tamam

The partnership will make micro-loans easily accessible, resulting in more favourable loan arrangements for both fintechs and customers

fintechs UAE

Fringe to forward: Charting fintech’s journey in the UAE 

Initiatives launched by the government to support crypto and metaverse firms have created strong incentives for fintech companies to invest and grow in the country

Fintech

Fintech 2023: The year of digital transformation

As we look towards 2023, several key trends are set to redefine the fintech space

Savii

Women in tech: Jane Harvey, co-founder and CEO at Savii

Young girls need role models and as women operating in this space, it is incumbent to show that there is a seat for females at the table

Saudi Arabia's central bank launches open banking lab

Saudi Central Bank launches Open Banking Lab

The bank is tracking the development of banks and fintechs to ensure their readiness to launch open banking services in Q1 2023

Dubai Chambers WAM

Dubai Chamber of Commerce sets up Fintech & Payments Business Group

Dubai Chamber of Commerce plans to increase the number of economic sectors and activities represented by business groups to 100 by March 2023

ThetaRay

Dubai-based Now Money appoints ThetaRay to ward off financial crimes

The agreement highlights ThetaRay’s expansion into GCC financial institutions

Fintech PayTabs acquires Turkey’s social commerce platform, Paymes

The acquisition aims to create a unified social commerce platform for micro merchants, fempreneurs and webpreneurs across the MENA region

Mobility startup Moove raises $30m for UAE expansion

Moove, which was founded in Nigeria and provides revenue-based vehicle financing has scaled up to 13 markets in 2022

Ajman

Ajman Bank signs strategic partnership with KMMRCE Pay

The partnership equips Ajman Bank with the technology to accelerate its digital transformation and enrich its client offering by adding new payment services