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Khaleej Times
20-07-2025
- Business
- Khaleej Times
Middle East emerging as a major global fintech hub
The Middle East is fast becoming one of the world's most exciting fintech frontiers. Digital banking adoption in the UAE is soaring, 89 per cent of consumers now use digital-first bank accounts, and digital payments now account for just 17 per cent cash usage in everyday transactions. Real-time payments are also growing rapidly, with the region expected to exceed 3 billion transactions by 2028. Across Mena, over 1,000 fintechs are now operating, with the sector expected to grow 35 per cent annually through 2028, more than double the global average. 'We're seeing a profound shift in how financial services are being built, delivered, and adopted in the UAE. Over the past few years, fintech adoption has widened beyond early movers into a broad, vibrant ecosystem, now home to over 300 active fintech firms. Crucially, we're seeing fintech's role expanding. While payments remains a key entry point, the growth of virtual cards, cross-border capabilities, and smarter credit solutions is opening up new opportunities across sectors, from SME lending to wealthtech,' Nauman Hassan, Regional Director Mena, Paymentology, leading global issuer-processor, told Khaleej Times. With initiatives like the Central Bank's FIT Programme and Dubai's push to become a digital-first economy (which is near completion), the architecture of the future is being built. 'High smartphone penetration at 96 per cent, growing comfort with digital payments, and the rise of digital-native banks like Wio and Zand are accelerating this momentum,' Hassan said. The UAE's push toward a cashless society is well underway. Dubai, for example, has digitised over 97 per cent of government payments, and in 2025, DIFC and Dubai Finance launched workshops to help businesses make the switch. 'We're proud to play a foundational role in this shift. Our cloud-first platform enables banks and fintechs to launch digital-first card programmes at speed, whether physical, virtual or tokenised. Our work with partners like Mamo in the UAE illustrates this impact clearly: together, we're helping small businesses access fast, secure, multi-currency payment options - moving them away from cash-based transactions toward streamlined digital flows. And because we support real-time data and multi-currency settlement, we empower fintechs to launch smarter, more accessible financial products from day one. To support this momentum on the ground, Paymentology recently expanded its regional presence with a new office in Dubai. 'This hub strengthens our ability to serve clients across Mena with specialised support, faster implementation, and deep local expertise, accelerating the shift to digital payments across the region,' Hassan said. In a country as digitally advanced as the UAE, trust in payment systems is the currency of continued innovation. Every day, over Dh11 million is lost to fraud, studies show. And as adoption of digital payments accelerates, the potential attack surface for cyber threats expands with it. 'We believe security must evolve just as quickly as the technologies it's designed to protect. Tokenisation is one of the most powerful tools in our arsenal. By replacing card numbers with unique digital tokens, we remove sensitive data from the threat landscape entirely, a move that can reduce fraud by up to 60 per cent. We've invested heavily in tokenisation because we believe cards are just one way to pay; the mechanism behind the card will remain, but we'll increasingly see payments shift to mobile devices and digital wallets, whether through global platforms like Apple Pay or proprietary solutions from banks, fintechs, and super apps,' Hassan said. AI is fast becoming the engine driving the industry forward. From real-time fraud detection to intelligent credit scoring, AI is transforming how financial services are delivered, and who can access them. A few years ago the UAE government partnered with Mastercard to accelerate the adoption or AI. More recently we had the announcement granting nationwide access to ChatGPT Plus, giving every student, entrepreneur, and professional free use of GPT-4o is a world first. As well as development of 'Stargate', one of the world's largest AI supercomputing clusters. 'At Paymentology, we're seeing the value of AI unfold across our organisation. Our teams are increasingly leveraging AI in their day-to-day operations from improving internal workflows to enhancing client support. Our API sandbox already incorporates AI to help fintechs experiment and innovate more efficiently, and we're actively exploring new opportunities to integrate AI across our platform. Ultimately, fintech thrives when it's built on real-time data, intelligence, and speed. AI supercharges all three, and the UAE is building the infrastructure to scale it across borders,' Hassan said.
Hi Dubai
18-07-2025
- Business
- Hi Dubai
Paymentology Scales Up in Dubai to Support Regional Expansion
Paymentology, the leading global issuer-processor, has announced the opening of its new and expanded office in Dubai, marking a significant milestone in its continued investment across the Middle East. The relocation reflects Paymentology's expanding regional footprint, driven by a fast-growing client base and rising demand for advanced, scalable payment infrastructure. With clients and partners including organisations such as Wio, Mamo, Mawarid Finance, and Zand, the new office will serve as a strategic hub for delivery, collaboration, and innovation, supporting digital banks and fintechs across the region with next-generation payment experiences. Jeff Parker, CEO, Paymentology commented, 'The Middle East has reached an inflection point. We're seeing governments prioritise financial innovation, regulatory frameworks that support experimentation, and a new generation of digital banks gaining real traction. Our investment in this new space reflects that shift. It's designed to act as a regional engine for client success, efficient execution, and long-term scale.' The announcement comes at a time of significant momentum for the region. The Middle East is fast becoming one of the world's most exciting fintech frontiers. Digital banking adoption in the UAE is soaring, 89% of consumers now use digital-first bank accounts, and digital payments now account for just 17% cash usage in everyday transactions. Real-time payments are also growing rapidly, with the region expected to exceed 3 billion transactions by 2028. Across MENA, over 1,000 fintechs are now operating, with the sector expected to grow 35% annually through 2028, more than double the global average. Nauman Hassan, Regional Director for MENA said: 'Dubai has been home to our regional team for a decade, but this move is symbolic of the momentum we're seeing here. In just a few years, we've gone from early-stage digitisation to fully cloud-first banks, instant payments, and embedded finance becoming mainstream. As that complexity grows, our clients need partners who understand the regulatory nuance, user behaviour, and infrastructure demands of each market.' The Dubai office will serve as a base for client delivery, partner engagement, and operations, housing an expanded team of local experts. As part of a global network spanning 50 countries and 14 time zones, Paymentology combines leading technology with deep local market knowledge, ensuring its clients receive tailored, responsive support wherever they operate. To further highlight its commitment to the region, Paymentology has also been awarded the Excellence Award at the Mawarid Fintech & Innovation Summit 2025. This recognition celebrates the company's strong partnerships and outstanding contributions to advancing financial innovation across the Middle East. News Source: Novellus PR & Comms
Mid East Info
16-07-2025
- Business
- Mid East Info
Paymentology Expands Dubai Presence with New Office to Support Growth Across the Middle East - Middle East Business News and Information
Dubai, UAE – 16 July 2025: Paymentology, the leading global issuer-processor, has announced the opening of its new and expanded office in Dubai, marking a significant milestone in its continued investment across the Middle East. The relocation reflects Paymentology's expanding regional footprint, driven by a fast-growing client base and rising demand for advanced, scalable payment infrastructure. With clients and partners including organisations such as Wio, Mamo, Mawarid Finance, and Zand, the new office will serve as a strategic hub for delivery, collaboration, and innovation, supporting digital banks and fintechs across the region with next-generation payment experiences. Jeff Parker, CEO, Paymentology commented: 'The Middle East has reached an inflection point. We're seeing governments prioritise financial innovation, regulatory frameworks that support experimentation, and a new generation of digital banks gaining real traction. Our investment in this new space reflects that shift. It's designed to act as a regional engine for client success, efficient execution, and long-term scale.' The announcement comes at a time of significant momentum for the region. The Middle East is fast becoming one of the world's most exciting fintech frontiers. Digital banking adoption in the UAE is soaring, 89% of consumers now use digital-first bank accounts, and digital payments now account for just 17% cash usage in everyday transactions. Real-time payments are also growing rapidly, with the region expected to exceed 3 billion transactions by 2028. Across MENA, over 1,000 fintechs are now operating, with the sector expected to grow 35% annually through 2028, more than double the global average. Nauman Hassan, Regional Director for MENA: 'Dubai has been home to our regional team for a decade, but this move is symbolic of the momentum we're seeing here. In just a few years, we've gone from early-stage digitisation to fully cloud-first banks, instant payments, and embedded finance becoming mainstream. As that complexity grows, our clients need partners who understand the regulatory nuance, user behaviour, and infrastructure demands of each market.' The Dubai office will serve as a base for client delivery, partner engagement, and operations, housing an expanded team of local experts. As part of a global network spanning 50 countries and 14 time zones, Paymentology combines leading technology with deep local market knowledge, ensuring its clients receive tailored, responsive support wherever they operate. To further highlight its commitment to the region, Paymentology has also been awarded the Excellence Award at the Mawarid Fintech & Innovation Summit 2025. This recognition celebrates the company's strong partnerships and outstanding contributions to advancing financial innovation across the Middle East.
Zawya
16-07-2025
- Business
- Zawya
Paymentology expands Dubai presence with new office to support growth across the Middle East
Dubai, UAE – Paymentology, the leading global issuer-processor, has announced the opening of its new and expanded office in Dubai, marking a significant milestone in its continued investment across the Middle East. The relocation reflects Paymentology's expanding regional footprint, driven by a fast-growing client base and rising demand for advanced, scalable payment infrastructure. With clients and partners including organisations such as Wio, Mamo, Mawarid Finance, and Zand, the new office will serve as a strategic hub for delivery, collaboration, and innovation, supporting digital banks and fintechs across the region with next-generation payment experiences. Jeff Parker, CEO, Paymentology commented: 'The Middle East has reached an inflection point. We're seeing governments prioritise financial innovation, regulatory frameworks that support experimentation, and a new generation of digital banks gaining real traction. Our investment in this new space reflects that shift. It's designed to act as a regional engine for client success, efficient execution, and long-term scale.' The announcement comes at a time of significant momentum for the region. The Middle East is fast becoming one of the world's most exciting fintech frontiers. Digital banking adoption in the UAE is soaring, 89% of consumers now use digital-first bank accounts, and digital payments now account for just 17% cash usage in everyday transactions. Real-time payments are also growing rapidly, with the region expected to exceed 3 billion transactions by 2028. Across MENA, over 1,000 fintechs are now operating, with the sector expected to grow 35% annually through 2028, more than double the global average. Nauman Hassan, Regional Director for MENA: 'Dubai has been home to our regional team for a decade, but this move is symbolic of the momentum we're seeing here. In just a few years, we've gone from early-stage digitisation to fully cloud-first banks, instant payments, and embedded finance becoming mainstream. As that complexity grows, our clients need partners who understand the regulatory nuance, user behaviour, and infrastructure demands of each market.' The Dubai office will serve as a base for client delivery, partner engagement, and operations, housing an expanded team of local experts. As part of a global network spanning 50 countries and 14 time zones, Paymentology combines leading technology with deep local market knowledge, ensuring its clients receive tailored, responsive support wherever they operate. To further highlight its commitment to the region, Paymentology has also been awarded the Excellence Award at the Mawarid Fintech & Innovation Summit 2025. This recognition celebrates the company's strong partnerships and outstanding contributions to advancing financial innovation across the Middle East. About Paymentology Paymentology is the leading next-generation issuer processor, empowering fintechs, digital banks and retail banks to effortlessly launch and manage innovative payment solutions on a global scale. The company drives greater customer choice and value through easy-to-use, integrated platforms and services that help clients to disrupt the status quo, accelerate time to market, and achieve growth. With a superior multi-cloud platform offering a vast global footprint, and enhanced real-time data, Paymentology distinguishes itself as a leader in the payments industry. Its team of payments experts, with deep local market knowledge, operates across 60 countries and 14 time zones, providing 24/7 support. Paymentology is deeply committed to expanding financial inclusion globally, changing lives and positively impacting the communities in which it operates. For more information, visit Media contact Becky Sales, PR Manager
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Business Standard
01-05-2025
- Business
- Business Standard
Fuze raises $12.2 mn from Galaxy, e& Capital to power digital assets infra
Company will use investment to expand business, product innovation and hiring Fuze, which provides digital assets infrastructure in finance, has raised $12.2 million to expand in India and abroad, said the company on Thursday. The Series A funding round was led by Galaxy, a global leader in digital assets and data centre infrastructure, and e& (etisalat and), a telecommunications company based in the United Arab Emirates (UAE). Founded in 2023 by Arpit Mehta, Srijan R Shetty and Mo Ali Yusuf, Fuze provides digital assets-as-a-service to financial institutions and businesses. Fuze has a suite of stablecoin (a cryptocurrency) infrastructure products and recently announced its expansion into payments. The company operates in the Middle East, North Africa (MENA) and Turkey and it has processed more than $2 billion in digital assets. Fuze said it plans to expand in India, where its founders have their roots, and is engaging with regulators and policymakers to 'navigate the evolving crypto regulatory landscape in the country'. The Series A investment will also be used for product innovation, compliance and hiring. 'We will fast track our mission to enable any bank, fintech or traditional business to seamlessly integrate digital assets and accelerate regional digital asset adoption,' said Mehta. 'We are seeing a huge surge in demand and we believe that in the near future, every financial institution and business will leverage some type of crypto or stablecoin capability.' Leon Marshall, chief executive officer of Galaxy Europe, said Fuze is strengthening its digital assets infrastructure as MENA becomes a hub for innovation and the UAE develops regulatory frameworks for digital assets. Fuze is backed by Further Ventures, an ADQ-backed venture builder and investment firm. Mohamed Hamdy, managing partner at Further Ventures, said: 'It's rare to see a fintech scale this quickly while maintaining a strong regulatory foundation. At Further Ventures, we back companies for the long term - and Fuze is exactly the kind of bold, unique business we believe in.' 'There's a natural synergy between Fuze and our fintech portfolio, from e& money to Wio and Careem Pay. And this investment is about backing bold companies who understand the long game, building digital assets infrastructure to supercharge the next wave of financial services innovation,' said Harrison Lung, group chief strategy officer of e&.
