According to the new Boston Consulting Group (BCG) report “Global Payments 2022: The New Growth Game,” payment revenues in the United Arab Emirates (UAE) are expected to reach $18.7 billion by 2031.

Mastercard welcomes Jordan Kuwait Bank (JKB) as a global partner of Mastercard Fintech Express, which unites tech-savvy start-ups. The program supports digital payment innovators by facilitating collaboration with tech companies and their partners to bring new products to the market

Bikeera, a UAE-based cycle store is teaming up with Binance to accept virtual asset payments for the purchase of bicycles, scooters, electric mobility vehicles, gears and services on their website or in their Store in Dubai. The partnership makes Bikeera the first cycling/mobility firm to offer consumers the option of paying with cryptocurrency and one of the first businesses in the UAE to accept virtual asset payments through Binance Pay. Binance Pay is a contactless and borderless gateway on the Binance App

Tabby, the Middle East’s leading payments and shopping app, and Paymob, the leading omni-channel payments facilitator in MENAP, have announced a partnership to fuel growth for Egyptian retailers by allowing businesses across Paymob’s network to benefit from Tabby’s split-in-four, interest-free payment solution via Paymob’s gateway. Tabby and Paymob work together to provide a seamless Buy Now Pay Later solution for both in-store and online retailers.

The Direct Debit Marketplace platform, which is available to organizations that take recurring fees in any industry, is bank agnostic, which means it does not affect the merchants’ relationship with their banking services provider. The platform provides users with peace of mind because direct debits enabled by the platform are integrated with and regulated by the UAE Central Bank. Payers benefit from cancellation control as part of their contractual terms.