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Fintech News ME
23-05-2025
- Business
- Fintech News ME
Digital Commerce Surges in MENA as Region Embraces Fintech and AI
Emerging technologies are playing a significant role in MENA's economic transformation, with the region frequently cited as one of the most proactive globally in adopting and exploring new digital solutions, according to 's fifth annual MENA report, The State of Digital Commerce in MENA 2025 – Trends that matter: Insights into changing consumer behaviour. The report examines how efforts from central banks, regulators, fintech firms, and merchants, alongside a predominantly digital-native population, have accelerated digital adoption. It provides data-driven insights intended for merchants, regulators, and other stakeholders looking to understand and engage with MENA's shifting commerce landscape. Online shopping in the region has increased substantially over the past five years, with daily transaction volumes rising by 139% since 2020. own processing volumes in the region have grown by 626% over the same period, with a 78% year-on-year increase, reflecting broader shifts in consumer behaviour and the growing reliance on digital platforms. Among online spending categories, food delivery accounts for the largest share at 47%, followed by clothing and fashion at 38%. Beauty products and electronics each represent 34% of online spending. This suggests that consumers are becoming more comfortable purchasing a wide range of products online. In the UAE, the use of Account Funding Transactions (AFTs) has grown by 388% year-on-year. This rise indicates a shift towards real-time, digital payment infrastructure not just for shopping, but also for salary payments, freelance earnings, and peer-to-peer transactions. According to the report, 61% of consumers in the region plan to increase their online shopping in the coming year. Sectors expected to benefit include travel, food delivery, retail commerce, and public services. Meanwhile, the use of cash-on-delivery has declined by 60% since 2020. 'Across every innovation shaping the future of ecommerce, MENA markets consistently rank among the most forward-looking. This isn't a region catching up, it's a region leading the world.' The report also highlights increasing consumer engagement with fintech and artificial intelligence. 43% of respondents use apps or digital wallets weekly to send money, and 62% are engaging with investment and wealth management platforms. AI tools are also playing a larger role in online shopping, with 45% of consumers having used generative chat platforms and 53% having used visual search technology. Shopping habits are also changing in physical stores. 37% of consumers report searching for alternatives online while browsing in-store, prompting retailers to incorporate digital tools such as QR codes and augmented reality previews into physical retail environments. Trust in brands is increasingly influenced by online reviews and social feedback, with peer input often carrying as much weight as traditional brand familiarity. This shift in consumer trust dynamics is accompanied by rising concerns about online fraud. Reports of fraud have grown from 33% in 2023 to 49% in the latest data. In response, businesses are adopting machine learning, behavioural biometrics, and real-time detection systems to address security concerns. 'Fast, secure, and intelligent payments are foundational to commercial success, not just at the point of transaction, but across the entire customer experience,' said Abbondandolo. report is based on five years of data and offers a retrospective view of the region's digital commerce trends, underscoring the pace and scale of change in MENA's economic landscape.
Trade Arabia
13-04-2025
- Business
- Trade Arabia
Checkout.com plans to expand card issuing in UAE
a leading global digital payments company, has announced its intention to expand its card issuing capabilities in the UAE. aims to roll out domestic card issuance in the region in 2026, pending regulatory approval. This will enable businesses to launch branded cards, whether physical or virtual, power customer rewards, streamline expenses, and simplify business-to-business payouts. Issuing will also help businesses extend the value they offer to consumers, bringing greater control of complex financial money flows. Speaking at Thrive Abu Dhabi, first conference in the UAE, CEO and Founder Guillaume Pousaz unveiled the upcoming launch alongside Mena General Manager, Remo Giovanni Abbondandolo. 'As a global business, we focus on bringing products to markets that our customers want and need. Today's announcement is proof of our commitment to the Mena region and its rising influence in the digital economy,' comments Remo Giovanni Abbondandolo, Mena General Manager at 'The appetite for innovation here is real, and we're proud to be building the infrastructure that powers it.' -TradeArabia News Service
Zawya
10-04-2025
- Business
- Zawya
Checkout.com gears up to become the first global digital PSP to launch card issuing in the UAE
aims to launch card issuing in 2026, pending regulatory approval. Experiential travel platform Headout is among the first merchants to show interest in domestic issuing with in the region. LONDON AND ABU DHABI — a leading global digital payments company, today announced its intention to expand its card issuing capabilities in the UAE, marking a first-of-its-kind investment by a global digital payment service provider in the region. aims to roll out domestic card issuance in the region in 2026, pending regulatory approval. This will enable businesses to launch branded cards, whether physical or virtual, power customer rewards, streamline expenses, and simplify business-to-business payouts. Issuing will also help businesses extend the value they offer to consumers, bringing greater control of complex financial money flows. Speaking at Thrive Abu Dhabi, first conference in the UAE, CEO and Founder Guillaume Pousaz unveiled the upcoming launch alongside MENA General Manager, Remo Giovanni Abbondandolo. The keynote, delivered to over 150 merchants and partners on Saadiyat Island earlier today, also welcomed H.E. Omar Sultan Al Olama, UAE Minister of State for AI, Digital Economy, and Remote Work Applications. 'As a global business, we focus on bringing products to markets that our customers want and need. Today's announcement is proof of our commitment to the MENA region and its rising influence in the digital economy,' comments Remo Giovanni Abbondandolo, MENA General Manager at 'The appetite for innovation here is real, and we're proud to be building the infrastructure that powers it.' Headout, a leading marketplace for experiential travel, recently appointed as its primary acquiring partner and launched card issuing for its European entities. The company has already expressed interest in expanding its domestic issuing capabilities across MENA when application is approved. was the first global payment service provider to obtain a Retail Payment Services license from the Central Bank of the United Arab Emirates and to bring Mada and Apple Pay to merchants across the UAE and KSA. The highly anticipated launch of issuing marks another milestone in MENA expansion. Most recently, the company launched Flow Remember Me, a product that lets shoppers save their card details once and then be immediately available for use across global network. Currently in beta with local merchants, early adopters are benefiting from reducing checkout time by up to 70%. In February, the company became the first to launch Visa Direct's Push-to-Card solution in the UAE, supporting domestic and cross-border payouts. longstanding relationship with Mastercard also grew in 2025 to enable merchants to send funds directly to third-party cards in a fast, convenient, and secure way. 'With bold moves like Saudi's Vision 2030 and the UAE's 2031 Agenda, MENA is fast becoming a global standard for digital transformation,' adds Abbondandolo. 'At we're here to support that momentum. Our mission is to help ambitious businesses navigate the complexity of payments, so they can move faster, go further, and make the most of every opportunity. In MENA, performance is personal. It's local. It's built on trust. And when payments perform, businesses thrive.' Press contact pr@ About processes payments for thousands of companies that shape the digital economy. Our global digital payments network supports over 145 currencies and delivers high-performance payment solutions across the world, processing billions of transactions annually. With flexible and scalable technology, we help enterprise merchants boost acceptance rates, reduce processing costs, combat fraud, and turn payments into a major revenue driver. Headquartered in London and with 16 offices worldwide, is trusted by leading brands, such as Alshaya Group, Botim, Dyson, Hunger Station, Instashop, Qlub, Majid Al Futtaim, Netflix, SHEIN, Sony, and Tamara. Where the world checks out.
TECHx
24-03-2025
- Business
- TECHx
Checkout.com's AI Engine Drives $10 Billion Surge in Merchant Revenue - TECHx Media Checkout.com's AI Engine Boosts Merchant Revenue by $10 Billion
AI Engine Drives $10 Billion Surge in Merchant Revenue News Desk - Share a global digital payments company, announced that its AI-driven Intelligent Acceptance product has generated over $10 billion in additional merchant revenue. The engine optimizes payment performance for enterprise businesses. Powered by 20 billion+ data points, Intelligent Acceptance enhances payments through optimizations in messaging, routing, authentication, credential lifecycle, and retries. The AI engine learns in real time. Every successful optimization is instantly available to all merchants. This improves acceptance rates, reduces costs, and unlocks revenue. Launched in June 2023, Intelligent Acceptance reached $5 billion in additional revenue within 15 months. In six months, it doubled this figure. It now generates $1 billion every 35 days for global brands like Vinted, Papa Johns, and Delivery Hero. With over 60 million real-time optimizations daily, increased merchant acceptance rates by 3.8% last year. This reflects the platform's ability to improve payment outcomes consistently. Rapid Growth in MENA experienced rapid growth in MENA. Digital payment volumes surged by 658% between 2020 and 2023. This growth reflects the region's fast adoption of digital commerce and rising consumer preference for online shopping. 'Doubling merchant revenue at seven times last year's speed shows our network's growing power,' said Daniel Linder, Senior Product Director at 'Our algorithms learn from billions of data points. Every transaction strengthens the network and improves performance.' focus on product innovation earned it recognition as a Strong Performer in The Forrester Wave™: Merchant Payment Providers Q1 2024. The company scored 5 out of 5 in payment performance optimization. 'Building a global payments infrastructure is complex,' Linder added. 'We aim to close the acceptance rate gap and ensure no revenue is left on the table.' Enhancing Digital Experiences Brands partnering with benefit from Intelligent Acceptance. Modestas Tursa, VP of Payments at Vinted, highlighted its impact. 'Delivering exceptional digital experiences is our mission. Our partnership with helps us achieve that.' Intelligent Acceptance drives payment optimization and significant revenue growth for businesses worldwide.
Web Release
24-03-2025
- Business
- Web Release
Checkout.com surpasses $10 billion in revenue unlocked for enterprise merchants using AI-powered boost
a leading global digital payments company, has announced that its Intelligent Acceptance product, an AI-powered engine designed to help enterprise businesses boost their payment performance, has generated over $10 billion in additional merchant revenue. Powered by over 20 billion data points and insights from global network, Intelligent Acceptance applies numerous optimizations at every step of the payment process (e.g., messaging, routing, authentication, credential lifecycle, and retries). With AI-powered engine learning in real-time, every successful payment optimization is instantly available to all merchants using Intelligent Acceptance, meaning everyone benefits from the power of the network to improve acceptance rates, lower costs, and unlock revenue. The product generated $5 billion in additional merchant revenue just 15 months after launching in June 2023. Six months after achieving that milestone, Intelligent Acceptance has now surpassed $10 billion in merchant revenue, generating $1 billion every 35 days for global brands such as Vinted, Papa Johns, and Delivery Hero. With over 60 million real-time optimizations performed across the payment flow each day, increased merchant acceptance rates by an average of 3.8% last year. In MENA specifically, has seen unprecedented growth in the region's digital payment volumes. total processing value witnessed a staggering 658% surge between 2020 and 2023, serving as a testament to the region's accelerated adoption of digital commerce which continues to see a deepening consumer preference for online shopping. 'Doubling the amount of revenue generated for merchants at seven times the speed of last year shows the growing power of our network,' comments Daniel Linder, Senior Product Director at 'With algorithms trained on billions of data points from entire merchant portfolio, every transaction processed by our customers strengthens the network.' With the majority of company resources invested in product and technology to deliver the highest acceptance rates for merchants, was recognized as a Strong Performer in The Forrester Wave™: Merchant Payment Providers Q1 2024 report , receiving a 5 out of 5 score in the payment performance optimization criterion. 'Building a global payments infrastructure is increasingly complex, especially with rising regulatory demands and evolving fraud tactics,' adds Linder. 'For merchants, this complexity can widen the acceptance rate gap—sometimes by 10–15% compared to in-person transactions—costing businesses billions in lost revenue. Our focus is on closing that gap, optimizing every transaction to ensure no revenue is left on the table.' 'Delivering exceptional digital experiences is core to our mission of making second-hand first choice, and our partnership with has been instrumental in helping us achieve that,' comments Modestas Tursa, VP of Payments at Vinted.
