APP scams are a form of trust-based manipulation, deceiving individuals into willingly transferring funds to fraudsters
payment technology
Latest in payment technology
Aviation
Leading SaaS provider IBS Software partners with Stripe to boost payment options for aviation and travel clients
The India-based SaaS company currently works or previously worked with leading airlines such as Emirates and Etihad, besides a number of companies in the travel and hospitality sectors in the UAE and the region
Careem
Careem partners with Payrails to optimise payment solutions across MENA
The partnership will enable the UAE company to enter new markets faster through a central provider for integration with new partners
Aviation
Saudi Arabia’s Riyadh Air taps CellPoint Digital for payment systems ahead of 2025 launch
Based in Riyadh’s King Khalid International Airport, the airline aims to launch commercial operations by mid-2025
biometric
Demand for biometrics rise, challenges revealed: Report
Mobile biometrics has become an urgent security matter—and a critical step for the credit and banking customer experience (CX)
BNPL
Saudi BNPL provider Tamara raises $150mn debt financing from Goldman Sachs
The funding brings the total equity and debt up to $366 million since its launch
digital economy
Payments platform Pine Labs announces UAE expansion
Pine Labs opened a new UAE office at Emaar Business Park, Sheikh Zayed Road, Dubai
digital payments
Tweeq International gets Saudi Central Bank nod to offer e-wallet services in the country
This takes the total number of payment companies licensed by SAMA to 23
AI-powered payment cards
UAE fintech Xare to unveil a breakthrough in payment cards: Borderless, language-less card checkout
Customers can shop globally with ‘Xare Anywhere’, even if they do not own a credit or debit card by using a card that is shared by a relative or a trusted friend, without having to provide card details
Brand View
ToYou joins forces with Saudi payments infrastructure giant, Geidea
The latest partnership delivers next-level payment infrastructure, boosting customer experience and driving innovation for consumers, partners, and merchants
BitOasis
Mastercard and BitOasis to launch crypto cards in the MENA region
The crypto card will enable customers to make fiat payments across 90 million global locations
Amazon
Shopify in silent online battle with Amazon’s Buy with Prime
The e-commerce platform is warning merchants against Amazon’s service, stating potential threats of fraudulent activities
Amazon Payment Services
Adoption of digital payments to boost SME growth
The growing e-commerce sector, facilitated in part by a rapidly evolving digital payment ecosystem, can help SMEs unlock new markets
AB Ventures
Saudi Arabia’s HyperPay raises $36.8mn in new investment round led by Mastercard
New funding will support the payment services provider’s regional expansion to Egypt, Qatar and Oman
Abdulaziz Al Afaleq
Saudi Arabia’s contactless payments reach 95 percent of total POS transactions, $126bn for 2021
Kingdom ranked number one in MENA for NFC payments adoption, followed by the UAE and Kuwait, in 2020 Visa study
Blockchain
Crypto, blockchain to retain appeal in 2022; EMEA fintech investments rise to record $77 billion in 2021: report
Payments continued to attract the most funding among fintech sub-sectors, accounting for $51.7 billion in investment globally in 2021 – up from $29.1 billion in 2020
ATM
Bank AlJazira partners with Japan’s JCB International to enhance Saudi Arabia’s payments landscape
The partnership aligns with Saudi Payments’ efforts to introduce advanced payment services and features across the kingdom