Tag: digital economy

Paymob, a trailblazer in the MENA financial services sector, has recently announced a substantial $22m extension to its Series B funding, culminating in a robust $72m total for the round.

The United Arab Emirates (UAE) is experiencing a notable economic surge, becoming a magnet for foreign investments and job opportunities. This economic growth is coupled with ambitious plans under the UAE Digital Economy Strategy launched in April 2022, aiming to increase the nation's GDP contribution from digital services from 9.7% in 2022 to 19.4% over the next decade. The strategy positions the UAE as a pivotal digital economy hub both regionally and globally.

AwanTunai, an Indonesian FinTech startup, has recently made headlines by closing its Series B funding round with a significant $27.5m.

Mastercard's joint venture entity, Mastercard NUCC Information Technology (Beijing) Co., Ltd., has attained formal approval to initiate domestic bankcard clearing operations within China.

J.P. Morgan Payments has selected global identity verification platform Trulioo to help its clients combat fraud and other financial crimes. 

Uzum, alongside prominent international investors, has set its sights on a substantial $300 million investment to fuel the growth of Uzbekistan's burgeoning digital economy.

The cybersecurity market in the Middle East and Africa which was worth $1903m in 2020 is expected to reach $2893m by 2026 per new research by ResearchAndMarkets.com.

FinTech's irresistible rise has financial institutions scrambling over one another to take advantage of the sector – but a trio of major pitfalls are present to engulf unwary  investors, FinTech author Paolo Sironi explained in a research interview with FinTech Global