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Visa's insights show that cash-only retailers have been most negatively impacted while merchants who moved online and adopted contactless payment systems have been able to better weather the economic adversity. Contactless payments usage in UAE and KSA, for example, grew by approximately 10% in Q2 2020 compared to Q1 2020

30 per cent of applications were from UAE based firms, demonstrating a strong pipeline of financial technology talent within the Emirates. 46 per cent came from the MENA region and 24 per cent were received from global firms.

Governments are now recognizing the importance of creating financial centres, not only to develop economies away from oil-based revenues, but also to improve the region’s standing in the world.

The project brings several benefits to Careem, its customers and captains, in addition to supporting the drive towards a cashless economy in the five countries. Most significantly, it will enable Careem’s captains to instantly access money they earn for both cash and non-cash transactions, instead of waiting days for the next payment cycle.

DIFC and Startupbootcamp Dubai facilitate an annual intensive three-month growth programme to support the business growth of start-ups and prepare them for operations and future scaling.

Hadi Raad, Vice President & Regional Head of Digital Solutions at Visa, announced that the digital payment provider had launched its ‘Where You Shop Matters’ campaign to encourage consumers to support small businesses adversely affected by the pandemic.

Ben is a proven information security and risk executive and thought leader with more than 25 years of experience in executing long-term security strategies.

African cross-border fintech startup Chipper Cash has closed a $13.8 million Series […]

Covering every sector involved in economic activities, including tourism, government services, environment and SMEs, the package was developed in cooperation with all concerned entities, with each entity creating the measurements that suit the nature of the companies they deal with.

Startupbootcamp, FinTech Dubai completes its second cohort, raising US$2.8mn and […]