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The Saudi CentralBank (SAMA) has announced the granting of a license to HyperPay Inc. Muhannad Ebwini, Founder and CEO of HyperPay said, said: “We are proud to have received this license from the Saudi CentralBank, which represents a significant milestone in enhancing our leadership in the electronic payment sector.
PayMint , a leading financial technology company, has announced that it has obtained final approval from the CentralBank of Egypt to launch its first Meeza prepaid cards in partnership with Abu Dhabi Islamic Bank Egypt (ADIB-Egypt).
Banks By 2020, Bhutan’s financial sector included five banks, three insurance companies, one CSI bank, five microfinance institutions, one pension institution, two telecom companies as well as a single stock exchange. These advancements offer the potential to boost economic development and prosperity across the Kingdom.
Egyptian fintech PayMint has received final approval from the CentralBank of Egypt to launch its first ‘Meeza’ prepaid cards in partnership with Abu Dhabi Islamic Bank (ADIB). PayMint plans for the new Meeza prepaid cards to enable its customers to carry out purchases, cash withdrawals, and online shopping in Egypt.
Mexico in Focus: Open Banking and FinancialInclusion A briefing for banks and fintechs, with key insights and details of the opportunities available in LatAm’s third-largest nation. Open Banking represents an important possibility for both financial institutions and the Mexican population.
The CentralBank of Brazil has authorised the digital payments organisation, PagBrasil to operate as a payment institution (PI) in the electronic money issuer category. The PI licence is a testament to our strength, now officially recognised by the CentralBank.
Thai regulators approved the first cross-border payment solution using stablecoins in October, while the Philippine centralbank launched a peso stablecoin pilot earlier this year. Pollak emphasized that stablecoins aim to modernize legacy financial systems rather than replace national currencies.
HyperPay , a payment gateway operating in the Middle East and Northern Africa (MENA), has secured a digital payment licence from the Saudi CentralBank (SAMA). The post HyperPay Secures Licence From Saudi CentralBank, in Aim to Support Regional Digital Transformation appeared first on The Fintech Times.
The platform is expanding its presence across the Americas, EMEA, and Asia, collaborating with banks, centralbanks, and fintech firms to drive adoption. Featured image credit: Edited from Freepik The post Partior Closes Series B at US$80 Million with Deutsche Bank Investment appeared first on Fintech Singapore.
Recognising the need for financialinclusion, the government, in collaboration with the UK-funded DaNa Facility and the United Nations Capital Development Fund (UNCDF) , launched the FinancialInclusion Roadmap in 2013. However, it is unclear whether this program remains active today.
Digital currency systems could prove to be key in improving financialinclusion and opening up new opportunities to large underbanked communities in many African countries. Financial innovation is not limited to centralbanks. by 2024.
CentralBank Digital Currencies (CBDCs) have received attention in recent years as centralbanks worldwide explore the potential to evolve the way we conduct financial transactions. Europe : The European CentralBank (ECB) is actively working on a digital euro. What Are CBDCs?
In a strategic move to accelerate digital payments, financialinclusion, and modernizing the country’s payment ecosystem, BPC , a global leader and payment solutions provider, is announcing the expansion of its operations in Nigeria.
Accenture (NYSE: ACN) announced that it has invested in EMTECH , a global financial technology company that provides software-as-a-service platforms to help centralbanks streamline, connect and modernize their processes and operations. Terms of the investment were not disclosed.
Championed by the CentralBank of Somalia (CBS), the initiative marks a major step in modernising Somalia’s payment infrastructure, promoting financialinclusion and enhancing economic stability. Our future-proof, scalable SmartVista platform is designed to support national projects like this for decades to come.
As artificial intelligence (AI) rapidly transitions from a nascent development to a ubiquitous technology accelerating advancements across the financial landscape, far-reaching implications for centralbanks worldwide are quickly emerging.
Armenia Population: +2,967,000 Capital, financial hub and largest city: Yerevan Gross domestic product (GDP) per capita: +$8,500 Access to a formal financial account (adults): 52.3 per cent CentralBank of Armenia (CBA) Armenia’s growth has been driven in part by its young, tech-savvy population.
Indonesia has reached a significant milestone in its journey toward exploring the potential of CentralBank Digital Currencies (CBDCs) with the completion of the Proof of Concept (PoC) for the wholesale Digital Rupiah under the auspices of Bank Indonesias Project Garuda.
Qatar Islamic Bank (QIB), Qatars leading digital bank, has signed a Memorandum of Understanding (MoU) with PayLater , a Qatari fintech company specializing in Buy Now, Pay Later (BNPL) solutions. The post QIB Partners With PayLater to Introduce Sharia-Compliant BNPL Solutions in Qatar appeared first on FF News | Fintech Finance.
The use of keys and QR codes make the technology accessible to unbanked people and businesses while it adheres to the highest security standards, promoting innovation, financialinclusion and minimising fraud. How is Bre-B building on the success of Pix in LatAm to accelerate financialinclusion?
Senegal is one of many countries across the Middle East and Africa trying to diversify its economy and future-proof itself by hosting financialinclusion by employing fintech solutions. However, Senegal remains a developing economy with significant challenges in financialinclusion , particularly in rural areas.
America Biometric Payments 2 Global, especially mobile-first markets Cash Payments 5 Emerging Markets, some developed regions CentralBank Digital Currencies (CBDCs) 1 Asia, Caribbean Credit Cards Overview : Credit cards allow consumers to make purchases on credit, paying later and often with interest.
Championed by the CentralBank of Somalia (CBS), the initiative marks a major step in modernising Somalia’s payment infrastructure, promoting financialinclusion and enhancing economic stability. Our future-proof, scalable SmartVista platform is designed to support national projects like this for decades to come.
Cambodia is leveraging fintech innovations and strategic reforms to boost economic growth, financialinclusion and international partnerships, positioning itself as a key player in the Southeast Asian digital economy. Cambodia has also ventured into centralbank digital currencies (CBDCs).
Myanmar’s financial sector, under the CentralBank of Myanmars vision introduced in 2016, has also made remarkable strides in modernisation. The launch of CBM-NET2 in 2020 marked a significant milestone in fostering financialinclusion and creating nationwide connectivity for digital payments.
Bahaa El-Shafie , deputy CEO of Banque du Caire, says the launch of the remittance service comes as the bank aims to increase the volume of remittances from Egyptians abroad, in line with the CentralBank of Egypt s directives to merge informal remittances under the umbrella of the banking sector.
It is aimed at financial institutions of all sizes, particularly those seeking to upgrade infrastructure quickly without compromising on scale or security. Scotty Perkins We built ACI Connetic to give banks a future-proof foundation to meet the ever-increasing demand for faster, smarter and secure payments.
The country is focusing on fintech solutions like mobile payments and cross-border systems to boost financialinclusion and economic growth. Post pandemic Like much of the world, Laos suffered during the pandemic, and while tourists have started returning, the economy has yet to fully recover.
In August 2023, the CentralBank of Jordan (CBJ) announced a new aim for financial technology and innovation in the country with its Executive Programme for the Economic Modernisation Vision (20232025). One way CBJ is positioning Jordon as a prime destination for investment in advanced financial technologies is through JoRegBox.
Al Etihad Payments (AEP) , a subsidiary of the CentralBank of the UAE (CBUAE), has announced the readiness of the financial infrastructure for Jaywan, the UAE’s domestic card scheme, to be activated locally and globally.
Payments giant Mastercard has been busy forging three new partnerships in the UAE, with Al Etihad Payments , the payments infrastructure provider and subsidiary of the CentralBank of the UAE ; LikeCard , an e-commerce prepaid card platform; and credit-as-a-service platform CredibleX.
These experts covered some of the industry’s hottest trends and most urging issues, including artificial intelligence (AI), quantum computing, digital assets, next-generation transactions, and financialinclusion. The regulatory attributes are finalized, and the centralbank is now working on legislation, he said.
ZainCash Iraq , a payment service provider and subsidiary of March Holding , has implemented Temenos’ core banking and payments platform to drive the growth and innovation of its digital payment services. The post ZainCash Adopts Temenos Technology to Expand FinancialInclusion in Iraq appeared first on The Fintech Times.
Almost 70 market participants including merchants, fintech companies, start-ups, banks and other payment service providers have signed up to work with the ECB to explore digital euro payment functionalities and use cases. Visionaries will share and discuss their proposals with the ECB in dedicated workshops that will run until May 2025.
The Saudi CentralBank (SAMA) has teamed up with Google to roll out Google Pay in 2025 through the national payment system ‘mada’ This agreement is part of SAMA’s initiatives to improve the digital payments infrastructure in Saudi Arabia, consistent with the goals of Saudi Vision 2030.
This strategic partnership aims to empower Trinidad and Tobago to establish a reliable and efficient real-time payments platform for both person-to-person (P2P) and person-to-merchant (P2M) transactions, expanding digital payments in the country and fostering financialinclusion.
Financialinclusion and access to credit continue to be a hurdle for businesses especially SMEs and individuals in Nigeria. Moniepoints success in broadening access to the financial system has resulted in millions of businesses accessing the system for the first time. Widening financialinclusion creates a snowball effect.
Bahaa El-Shafie, Deputy CEO of Banque du Caire, explained that the launch of the remittance service in cooperation with TerraPay comes as part of the banks efforts to increase the volume of remittances from Egyptians abroad, in line with the CentralBank of Egypts directives to merge informal remittances under the umbrella of the banking sector.
This year, the summit will begin in Malaysia before moving to a series of Southeast Asian countries, bringing together industry leaders and experts under the theme “Revolutionising Banking and Insurance through Digitalisation.” Discussions will address regulatory challenges, financialinclusion, and evolving consumer expectations.
Buna enables financial institutions and centralbanks in the Arab region and beyond to send and receive payments in local and key international currencies in a secure, cost-effective and transparent environment.
Many firms in developing regions are looking towards technology as a way of advancing their financial marketplaces. For example, in Rwanda, I&M Bank (Rwanda) Plc. , the oldest bank in Rwanda and licensed by the CentralBank of Rwanda , and Network International (Network) have partnered to improve financialinclusion in the country.
The introduction of a token-based solution such as G+D Filia® Unplugged not only strengthens payment resilience but also has the potential to drive financialinclusion for nearly 1.4 Raoul Herborg, Managing Director CentralBank Digital Currency at G+D. billion unbanked people worldwide.
Additionally, tiqmo provides a range of international financial services including bank account transfers, digital wallet transfers, cash pick-up, bill payments and mobile top-ups. tiqmo is one of the fastest-growing apps in Saudi Arabia, licensed by the Saudi CentralBank.
Through this partnership with Tarabut, we hope to develop a seamless real-time solution that aligns with Vision 2030’s focus on digital transformation and financialinclusion.” The post Tarabut Collaborates With Geidea to Improve Access to Financing for SMEs in Saudi Arabia appeared first on The Fintech Times.
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