Global technology company Mastercard, and Geidea, the largest fintech company in Saudi Arabia by market share, have announced a strategic partnership agreement to accept Mastercard payments on Tap-on-Phone solution in Saudi Arabia – the first such agreement to be signed in the Middle East and North Africa. Geidea is the first fintech company to roll out this contactless payment acceptance technology across the Kingdom, which will enable businesses to use smartphones as payment acceptance devices.
Finance and Policy ME
Central Bank of UAE granted license to Al Maryah Community Bank, making it the first specialized digital bank to serve the UAE community through using state-of-the-art new age banking technologies.
Digital Financial Services, a joint venture of Etisalat and Dubai Islamic Bank and the operator of eWallet services, has partnered with Al-Futtaim to roll out contactless payment options for eWallet users across the UAE.
As part of the continued efforts to provide seamless and secure payment methods and tools to pay government services fees in the Emirate, the Abu Dhabi government services ecosystem, TAMM has added PayBy to facilitate contactless payment through its strategic partner First Abu Dhabi Bank (FAB).
The Global Islamic Fintech Report (GIFT) 2021 presents that out of 64 key Islamic Fintech markets, the Organization of Islamic Cooperation (OIC) member countries dominate the top 10, particularly Malaysia, Saudi Arabia, United Arab Emirates (UAE), and Indonesia.
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