#Fintech

Mastercard NymCard tie-up

Mastercard certifies NymCard as a principal issuer

Fintechs, startups and financial institutions can now plug and play into NymCard’s modern BaaS infrastructure to issue their own Mastercard cards

tracking tool

Fintech firm Modifi unveils free shipment tracking tool for cross-border commerce

The open-for-all shipment tracking tool helps businesses to track and manage shipments in one glance, on one platform

developer portal

Abu Dhabi’s ADIB launches API developer portal to drive open banking

The new portal will enable fintech developers to use the lender’s APIs for the purpose of developing their own applications

VaultsPay and Wibmo launch pre-paid card for underbanked in GCC

VaultsPay, Wibmo to launch pre-paid card for GCC’s underbanked segment

Aimed at serving the large population of underbanked people in region, the pre-paid card will go live in the third quarter of the year

Rapyd DIFC

Fintech Rapyd becomes first DIFC-registered Israeli company

The company plans to hire 120 employees in Dubai across the R&D, product, operations and HR departments within the next 18 months

CUSTOMER ENGAGEMENT

Network International partners with FreedomPay

Strategic collaboration will enable Network to offer a fully integrated payments platform to its hospitality and retail merchants in UAE and MEA region

valU EFG-Karim-Awad

FAS Labs, valU partner to offer digital consumer finance services in Saudi Arabia

The agreement will accelerate the geographical expansion of valU and provide digital finance solutions to consumers in Saudi Arabia through FAS Finance

UAE Bank

Nearly 90% UAE banking customers find account opening too complicated

Identity proofing platform IDnow and YouGov research finds UAE residents are frustrated by bank account applications

FOO Fintech

Fintech solution provider FOO expands operations into Saudi Arabia

FOO works with banks, fintech companies and retailers across the MENA region to provide digital products that enhance business models and customer experience

Network Nayax retail Getty images

Network, Nayax to expand UAE’s unattended self-service retail segment

Network and Nayax’s solution allows customers to select a product or service and pay using a debit or credit card at unattended self-service payment kiosks

Zenda

MENA’s fintech school fee app, zenda, raises $9.4m in seed round

Zenda, is the first fintech app that lets parents to pay school fees with pay-now and pay-later options, and unlock rewards for paying on time

Digital wallet

Careem Pay launches peer-to-peer transfer facility and digital wallet in the UAE

It will soon issue Careem cards that can be used at ATMs and merchants, and will also introduce international remittance solutions

DIFC-based Tarabut gateway

DIFC-based fintech Tarabut Gateway receives DFSA licence

This licence marks the first time the DFSA has authorised a firm to provide account information services and payment initiation services activities

UAE’s fintech startup FlexxPay expands into Egypt

The company estimates that around 20 million people across Egypt could benefit from early wage access

Dubai-based Stake hosts MIT student team for six-month project

The project will entail developing a analytics model that will collect historical market data on Dubai’s residential market dating back over 10 years

Wa’ed Ventures and Maydan Capital to fund ‘ethical’ fintechs in Saudi

The two companies will coordinate and collaborate on finding, backing and mentoring founders as they launch and grow their ethically-focused startups

Bahrain-based cryptocurrency platform Rain announces 0% trading fees

The simplified fee structure aims to help customers feel more comfortable and confident placing their first trade in the crypto world

How DIFX is bridging the gap between traditional and digital assets

With a growing startup ecosystem and tech-driven individuals, the Middle East region is on the verge of becoming a global fintech leader, says Jeetu Kataria, co-founder and CEO at DIFX

Binance

How fintech solutions can support small exporters

Fintech companies are uniquely positioned to fill the gap and help SMEs get access to flexible injections of liquidity

UAE’s ADGM Academy, National University of Singapore sign MoU

The partnership will explore deep-tech solutions to challenges facing the financial services sector

UAE’s ADGM and Finastra team up for ‘Hack to the Future 4’

ADGM’s hackathon is seeing participants explore innovative ideas around themes of ESG, embedded finance and decentralised finance

Dubai’s Shuaa Capital acquires majority stake in Souqalmal

Shuaa joins existing investors Riyad Capital and UK comparison website GoCompare

Bahrain’s Central Bank issues operating licence to Binance

Bahrain is the first GCC country to issue regulatory approvals to the blockchain and cryptocurrency infrastructure provider

Charting the growth of the regional fintech ecosystem

Saxo Bank MENA’s CEO Damian Hitchen talks about the region’s fintech space and the challenges faced by the financial sector

How One Global helps make day-to-day digital service payments more mobile

Our forward-thinking approach and business platforms are on the verge of disrupting the status quo for entrepreneurs, says Mohammed Al-Rashidi, executive chairman, One Global

Dubai tech unicorn Zeta and Mastercard announce partnership

The partnership aims to maximise the safety, security and convenience of e-commerce, online banking and contactless transactions

FOO, NymCard partner to bring end-to-end payment solutions for innovators in MENA

With the signing of this partnership agreement, both the companies aim to play a key role in supporting the growth of the fintech ecosystem in the region

The growth of the fintech sector in the Middle East

Moving towards more homogenised regional frameworks can catalyse a wave of new fintechs to scale globally, opines Oliver Obitayo, CEO of IDnow Middle East 

The Global Blockchain Business Council appoints Ola Lind as the UAE Ambassador

Lind joins 179 ambassadors from 86 jurisdictions in six continents that make up a select group of leaders in technology, government, and academia

How open banking is transforming the regional financial services

Tarabut Gateway’s 2022 MENA Open Banking Spotlight explores how regulation, implementation and adoption are enabling a new era of financial services across the region