Various opportunities, problems, and issues related to banking trends have been observed by the organisation. A transition to digital and quick payments is one of them. The Middle East digital payments market is expected to develop at a CAGR of 6.5 percent from 2020 to 2025, owing to a sharp increase in e-commerce sales, widespread internet access, and high smartphone adoption.

Since its inception in 2018, OPay’s active users have risen to 15 million across the dozens of markets in which it operates. On average, the company processes millions of transactions per day. Users in Nigeria, where OPay has a significant market share, have saved billions of dollars in the last four years through credit-linked savings accounts from their mobile wallets.

As Middle East’s payments industry continues to evolve, PayerMax is designed to offer enhanced speed, flexibility and convenience. It is important to remember to cover payment methods that ensure maximum financial inclusivity.

Amazon Payment Services, a payment service provider operating in the Middle East and North Africa (MENA) region, has announced the appointment of Mona Alsemayen.

The GrubTech and Paymob collaboration features two highly successful homegrown startups that share the same DNA and have aided in the Middle East’s digital transformation.