Payments

Business Sustainability

90% of payment cards to use sustainable materials by 2029

Arnold Pinto 06/11/2024

Need grows for card recycling schemes A new study from Juniper Research reveals that by 2029, over 90% of all payment cards shipped globally will be made from sustainable materials, up from less than 40% in 2024. This rapid shift is driven by growing environmental concerns and the push for more

NEWS DESK

Visa Announces Pilot Launch of Visa Commercial Solutions Hub to Unify Its Commercial Payments Ecosystem

PR News Desk 03/10/2024

Visa (NYSE:V), a global leader in digital payments, announced a new commercial payments ecosystem, the Visa Commercial Solutions Hub. This strategic initiative will provide financial institutions and businesses efficient access to a wide range of commercial payment solutions, complementary capabilities and integrations into a range of fintech services, making it easier for

NEWS DESK

Foodics Streamlines Restaurant Payments with Foodics Pay, Allowing F&B Businesses to Thrive

PR News Desk 03/10/2024

Foodics, a leading restaurant operations and payment technology company in the MENA region, is revolutionizing payment solutions in the F&B industry with ‘Foodics Pay’, its payment solution designed to elevate operational efficiency, help businesses manage transactions effortlessly with its user-friendly interface and streamline the customer experience across the

NEWS DESK

Corpay Cross-Border Named the Official World Athletics Foreign Exchange Supplier

News Desk 25/07/2024

Corpay, Inc.*, (NYSE: CPAY) a global leader in corporate payments, is pleased to announce that Corpay’s Cross-Border business has entered into an agreement with World Athletics, the international governing body for the sport of athletics, covering track and field, cross country running, road running, race walking, mountain running, and ultra running, to become their

NEWS DESK

Ransomware Payments Increase 500% In the Last Year, Finds Sophos State of Ransomware Report

News Desk 01/05/2024

Sophos, a global leader of innovative security solutions that defeat cyberattacks, today released its annual “State of Ransomware 2024” survey report, which found that the average ransom payment has increased 500% in the last year. Organizations that paid the ransom reported an average payment of $2 million, up from $400,000 in 2023. However, ransoms are […]

NEWS DESK

Global Real-Time Payments Growth “Sustainable” As New Use Cases Push Transactions to Record Highs

News Desk 30/04/2024

Global real-time payments growth has reached sustainable levels with 266.2 billion real-time payments transactions recorded in 2023—a year-over-year (YoY) growth of 42.2%—according to the 2024 Prime Time for Real-Time report, published by ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software, in partnership

NEWS DESK

Three steps for merchants to drive ROI from cross-border payments in 2024

PR News Desk 18/01/2024

The digital economy in the GCC region is developing rapidly. UBS predicts that between 2022 and 2030, its value will surge more than fourfold to about $780 billion – double the forecast global growth rate. With digital transactions also rising, the payments industry in the UAE alone is projected to record a 55% jump in […]

NEWS DESK

Visa, YellowPepper and ABHI Partner to Provide Account-to-Account (A2A) Payments in the UAE

PR News Desk 27/09/2023

Pioneering Financial Inclusion and ESG-Driven Innovation Visa Inc. (NYSE:V) today announced a partnership agreement with ABHI, a leading fintech company, and YellowPepper to introduce Account-to-Account (A2A) payments in the UAE. This collaboration aims to revolutionize the financial landscape by driving innovation, promoting financial inclusion, and accelerating the

NEWS DESK

Innovation in payments supports global economic growth: UBF 

PR News Desk 27/09/2023

UAE Banks Federation, the sole representative and unified voice of UAE banks, affirmed its keenness to further efforts to advance the payments ecosystem in light of the unprecedented technological transformations taking place in the world. During its participation at the event, the Federation explained that innovation in the field of payments is reshaping the global […]

Business GCC UAE

Swipe2B processes $2 billion of B2B payments in the UAE

PR News Desk 25/09/2023

Swipe2B, a leading payment solutions provider headquartered in the UAE, has surpassed $2 billion of B2B supplier payments. The solution unlocks liquidity and facilitates early payments for both buyers and suppliers. As the economic hub of the Middle East, the UAE boasts a thriving business ecosystem and Swipe2B has emerged as a catalyst for growth […]

Tech Business

Mastercard and Qashio in new push to digitise business payments in the MENA region

Arnold Pinto 28/08/2023

Mastercard, a global payments provider, has partnered with Qashio, a UAE-based fintech company, to launch virtual credit cards for SMEs and other businesses in the Middle East and North Africa (MENA) region, beginning with the UAE. The partnership seeks to make expense management cashless, transparent, and flexible for SMEs and other businesses in the MENA […]

Business

UAE’s leading business payments startup, Mamo, selects Checkout.com to fuel startup growth across MENA

News Desk 01/05/2023

DUBAI, UAE — May 1, 2023: Global payments provider Checkout.com has entered an agreement withMamo, the fintech powering payments for SMEs across MENA, making  Checkout.com the payments provider of choice for their flagship product Mamo Business.This deal further supports Mamo’s mission to accelerate the growth of SMEs in the MENA region’s flourishing digital economy.

Business

Zone Adopts ThetaRay AI Solution to Monitor and Screen Payments in Nigeria

Middle East News 247 31/03/2023

LAGOS, Nigeria & NEW YORK & TEL AVIV, Israel — Zone (formerly Appzone), Africa’s first regulated layer-1 blockchain network for payments, and ThetaRay, a leading provider of AI-powered transaction monitoring technology, today announced they will collaborate to implement ThetaRay’s cloud-based SONAR solution to monitor and screen Zone’s transactions in

Business GCC UAE

SWIFT User Group in UAE confirms continuous improvement in payments

News Desk 09/03/2023

The SWIFT User Group Steering Committee and National SWIFT in the UAE Member Group held its first meeting of 2023 on the 6th of March under the chairmanship of Mr. Jamal Saleh, Director General of UAE Banks Federation and Chairman of the SWIFT Users Committee and the National Group in the UAE. At the meeting, […]