Mashreq, a significant player in the financial realm of the MENA region, has successfully concluded the sale of a majority stake in NEOPAY, the UAE’s leading entity in digital payments, to DgPays, a financial infrastructure technology provider, along with Arcapita, a global alternative investment firm. Even with the divestiture of the majority stake, Mashreq retains a significant minority share, showcasing
Billboxx, an integrated billing-to-payment platform designed to address cash flow challenges for small and medium-sized enterprises (SMEs) in Africa, has successfully secured $1.6 million in pre-seed funding. The investment round saw participation from several notable investors, including Norrsken Accelerator, Kaleo Ventures, 54 Collective (formerly Founders Factory Africa), P2Vest, and Afrinovation Ventures. By focusing on automating billing processes, Billboxx aims to
In 2024, the digital payment landscape has continued to evolve, offering consumers an array of methods to facilitate online transactions. As the demand for seamless and secure payment options grows, both traditional and innovative solutions have captured the attention of consumers. From credit and debit cards to digital wallets and cryptocurrencies, the variety in payment options reflects consumers’ diverse preferences
The intention of transitioning towards a cashless society often sparks debates over security, convenience, and efficiency. Recently, Doha Bank has taken a significant step in this direction by partnering with Visa to introduce Visa Commercial Pay (VCP). This collaboration marks a notable milestone as the region’s first service that integrates a mobile module for corporate credit card clients. With the
In an era where borders are becoming increasingly meaningless in the financial world, the introduction of AstroPay’s multicurrency wallet aims to provide a much-needed solution for global citizens, including travelers, remote workers, and international business professionals. This innovative fintech product is designed to simplify cross-border financial management, allowing users to hold, exchange, and transact in multiple currencies through a single
KuCoin has taken a significant step toward integrating cryptocurrency payments into the retail sector with the launch of KuCoin Pay, a new retail payment solution designed to cater to its 37 million global users. This initiative aims to bring crypto payments to mainstream retail by offering a contactless and borderless method, enhancing the convenience and efficiency of digital transactions. Providing
If you’re buying from small shops and pop-up stalls in the UAE, you might have once expected to pay in cash, but this traditional approach has begun to change with the rise of digital payment apps. Increasingly, small and medium enterprises are adopting digital methods to keep up with their customers’ preferences and the changing landscape of commerce. The shift
In an exciting development for digital finance in Malaysia, Boost Bank is poised to potentially become the nation’s first digital bank to enable contactless mobile payments via Google Pay, a feature within Google Wallet. Currently, Malaysian Android users have been relying on Google Pay, Samsung Pay, and Apple Pay for their contactless transaction needs. With Boost Bank’s Mastercard Debit Card
In a rapidly globalizing economy, the movement of money across borders has undergone a significant transformation. Almond FinTech’s annual report on cross-border payment trends for 2024 highlights the key developments redefining international financial transactions. Businesses must adapt to these changes to remain competitive, as the necessity for speed, efficiency, and transparency in the movement of money becomes ever more critical.
The financial landscape for American consumers is becoming increasingly challenging, with credit card defaults reaching their highest levels in 14 years. This surge in credit card defaults is a clear indication of the escalating financial distress facing many households across the country. As consumers navigate these turbulent times, strategic credit usage and evolving financial products play a crucial role in
In 2024, businesses are continually seeking innovative ways to improve their digital payment processes, which can significantly impact transaction efficiency and security. The ever-evolving landscape of digital payment solutions introduces trends that not only streamline payment processes but also offer a more secure transaction environment for customers and vendors alike. Companies must stay ahead of these trends to maintain a
Integrating artificial intelligence (AI) into payment solutions has the potential to bridge significant gaps and drive massive economic growth in emerging markets such as Africa, Asia, and Latin America. These regions, which represent a considerable portion of the global population and the under-30 demographic, present unique challenges and opportunities for AI innovation and tailored payment strategies aimed at fostering development
