CoinMENA and MAG partner to facilitate crypto-based property transactions

MAG, the UAE’s real estate developer, has signed an agreement with CoinMENA, a Middle East and North Africa (MENA) crypto asset service provider, to facilitate real estate purchases using cryptocurrencies and accelerate the growth of Dubai’s new economy.

PayBy, UnionPay partner to build cashless ecosystem in the UAE

UnionPay International (UPI) has enabled card acceptance in 180 countries and regions, with issuance in more than 70 countries and regions, through partnerships with over 2500 institutions worldwide. UPI offers the world’s largest cardholder base high-quality, cost-effective, and secure cross-border payment services, as well as convenient local services to a growing number of global UnionPay cardholders and merchants.

Survey shows over half of UAE citizens use digital wallets

New research from payment solutions provider has revealed that half of UAE residents are using digital wallets for the first time.According to the survey, security is still the most important factor for UAE residents when shopping online, with nearly 40% of respondents trusting digital wallets as much as banks. Indeed, the future looks bright for digital wallets, with 48% of respondents.

Postpay and CBD sign FinTech-Bank collaboration

Commercial Bank of Dubai has approved a debt financing deal with Postpay, an omni-channel Buy Now, Pay Later provider in the Middle East, according to a media release. This inaugural debt financing arrangement is another example of how FinTech and traditional banks are partnering to leverage their collective experience and expertise to enhance the suite of financial products offered in the market.

The wholesale banking sector had its best year in a decade

Titled ‘Striving to Sustain Returns’, the wholesale and transaction banking report details that markets and investment banking were more resilient than anticipated – benefitting from a decade of structural change alongside policy support. The resilience of the markets and banks has allowed the institutions to offset declines in interest-rate driven businesses.