Varun A.

UPI QR payment acceptance comes to UAE. Network International, the leading enabler of digital commerce across the Middle East and Africa (MEA) region, in partnership with NPCI International Payments Limited (NIPL), has enabled the acceptance of QR code-based Unified Payments Interface (UPI) payments across Network’s point-of-sale (POS) terminals in the UAE. The announcement was made at an event held in Dubai in the presence of His Excellency Satish Kumar Sivan, Consul General of India to the UAE along with senior representatives from Network International and NPCI International. The initiative will facilitate seamless transactions for Indian tourists across Network International’s vast merchant network in the UAE. Network has over 200,000 POS terminals across 60,000+ merchants in sectors including retail, hospitality, transport, and supermarkets among others. UPI acceptance will be rolled out progressively, covering a wide range of establishments from retail stores and dining outlets, as well as tourist and leisure attractions including Dubai Mall and Mall of the Emirates. Source: https://lnkd.in/eHwBnXZs Sign up for more news updates like this in our daily newsletter: https://lnkd.in/eskQx7Ym #payments #paymenservices #paytech #paymentindustry #digitalassets #fintech #financialtechnology #financialservices

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Visa launches flexible payments feature for customers hashtag #Payments #smallbusiness #creditcardprocessing #money #merchantservices #pos #payment #creditcard #cryptocurrency #creditcards #bitcoin #mobilepayments #pointofsale #technology #blockchain #digitalpayment #cash #crypto #upi #shopping #banks #bank #fintech #business #paymentsolutions #ecommerce #finance #banking #paymentprocessin

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Telr Partners with Samsung to Launch Samsung Pay in the UAE Read more: https://lnkd.in/dWHBA4qK #Telr #SamsungPay #UAE #MobilePayments #DigitalWallet #FintechPartnership #finance #fintech #FinancialIT

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In an era where digital transformation is reshaping consumer interactions, Totl, a pioneering fintech firm based in Dubai, United Arab Emirates, is redefining how businesses connect with customers. TOTL - Cashback, eVoucher, Payments & Discounts Uday Rathod Sulochana Betwala Expand North Star #fintech #expandnorthstar #startupnews #tech #startup #expandnorthstar2024 #innovation #cashback #apps #CRM #CX #news #media #mediainterview #newsmakers #cashlesspayment #epayment

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++ Network International Launches Business Payment Solutions in #UAE with Mastercard ++ Network International (Network), the leading enabler of digital commerce across the Middle East and Africa (MEA) region, has announced the introduction of new Business Payment Solutions for businesses, corporations, and travel industry companies in the UAE. "We are delighted to achieve yet another milestone in Network’s 30-year journey of creating world-class digital payments infrastructure and services for clients in the UAE and the wider region. By launching the new Business Payment Solutions for the first time, Network aims to unlock further growth opportunities for businesses and corporations in the UAE. By making progressive inroads into digitisation of commercial payments, Network continues to contribute towards the UAE’s aspirations for a cashless economy." - Nandan Mer, Group CEO, Network International "At Mastercard, we are committed to removing fragmentation and complexity from commercial payments, and we are delighted to strengthen our long-standing collaboration with Network to support commercial customers in the UAE. Building on our shared commitment to driving digitisation and innovation, we are embedding Mastercard’s digital payment expertise, expense management and card technologies into the new Commercial Card Program. By combining our capabilities and reach, more companies across UAE will be able to pay and get paid quickly and securely, boosting liquidity and removing friction from the system." - J.K. Khalil, Division President, East Arabia, Mastercard #techafricanews #middleeast #uae #business #payment #solutions #liquidity #card #technologies #collaboration

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Are you aware about #InstantPayment in #UAE? Let's deep dive, The UAE introduced its instant payments system Immediate Payment Instruction (#IPI) in mid-#2019, focusing mostly on #domestic #volume. Despite being supported by more than 70 #institutions, its usage has not gained significant traction due to limited use cases and traditional preference toward #paperbased payment #instruments. However, in #October #2023, the #CentralBank of the UAE launched #Aani, a new instant payments platform intended to bolster usage of #realtime payments in the country via new #features, such as #RequesttoPay, #payments to #mobilenumbers and #QRcode compatibility for payments at the physical #pointofsale. Currently, real-time payments account for only a 1.5% share of total payments transaction volume, but this is expected to #increase to 3.6% by 2028. The impact Aani will have in the market remains to be seen, but mobile-based payments have proven popular in the region, so this service has long-term potential.

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Now, paying bills in one go is easier than agreeing on the ideal temperature. Download the EI + Mobile Banking App today and experience simplicity & convenience. #EmiratesIslamic #MobileBanking #Payments #UAE

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🇮🇳 In Action ➔ Here's the top 10 #IndianTech developments Tahseen Consulting is following today 🏦 OYO withdraws #IPO plans for second time ⚖️ Paytm sees merchant payments, consumer lending biz slowing 🤖 Electronics manufacturers seek #PLI scheme 📈 Ericsson India, Vodafone Idea Limited plan potential #5G agreement 📡 The Walt Disney Company sells stake in Tata Play Ltd at $1B valuation 📱 #Smartphones emerge as India's fourth largest export item 💰 Govt asks Tower Semiconductor to rework fab proposal 🏢 Meta, Google accused of failing to enforce election content moderation 🤝 Exports ▲ in May as PMI ▲ to 61.7 🌐 Banks may seek MSME provisions under Reserve Bank of India (RBI) draft rules 👋 With the #India and #MENA tech ecosystems converging, you can follow Tahseen Consulting and click below to get our extended coverage of the top tech developments you need to know about to start your day. https://lnkd.in/g3rCbad4

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As real-time payment platforms revolutionize financial transactions in the UAE, they also open new doors for fraudsters. ACI Worldwide’s Scamscope report highlights a 43% YoY surge in authorized push payment (APP) scam losses for 2024 in the UAE, with projections reaching $30.3 million by 2028. #Finance #FraudPrevention #DigitalEconomy #RealTimePayments #UAE

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SMEs in the GCC are increasingly embracing the digital era, recognizing that tech-savvy customers and efficient operations are the keys to growth. By adopting digital solutions, these businesses are optimizing everything from inventory management to customer service, making them more agile and competitive. The shift isn't just about staying relevant—it's about thriving in a market that demands innovation. As more SMEs integrate tech into their core strategies, they're setting new benchmarks for success in the region. Have a read through 👇🤓 and don’t hesitate to reach out our team at CREALOGIX 🚀 #SMEs #DigitalTransformation #GCC #Innovation

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Following JoPACC's recent launch of the eCommerce payment through Jordan’s Instant Payment System (CliQ and JoMoPay), we are proud to be the first bank that supports this seamless shopping experience and enabling IATA Pay.   IATA Pay is a transformative payment solution in the airline industry under EU’s Payment Services Directive 2 (PSD2), helping airlines reduce payment processing fees by up to 99% while providing a secure and popular payment option for travelers. In 2023 alone, 27 airlines adopted IATA Pay, with 41 more currently implementing it, and 145 airlines representing over 70% of all tickets sold worldwide are part of the IATA Pay community.   Airlines in Jordan are now adapting IATA Pay, and it will be live very soon. This will allow customers to purchase their airline tickets directly from airline websites using IATA Pay and CliQ QR Code or Request-To-Pay (RtP). The pre-authorized RtP service enhances user experience by eliminating the need for customers to switch between multiple apps, ensuring a smooth and efficient checkout process.   We extend our gratitude to the dedicated implementation teams at JKB, A2A, and IATA Pay for their hard work and collaboration to make this a reality.   #JKB #IATA #IATAPay #JoPACC #CliQ #A2A #OpenFinance #DigitalPayments Javier Orejas Nabil Halaseh Maram Nweiran Zuhair AlSalkhadi

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🔥Benefits of ABG Crypto ATMs ✅Convenience: Easy and quick access to cryptocurrencies. ✅Cash Transactions: Ability to convert cash to crypto and vice versa. ✅Accessibility: Useful for people without access to traditional banking services. ✅ 50 ATMs will be first installed in Dubai 🥳 Great things are coming, stay tuned!! #abg #abitcoingold #abgcryptoatm #abgcryptoatmcard #abgmobileapp #instantswap #arbitrumone

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Commercial Bank's launch of Fawran is set to change Qatar's payments ecosystem - and it's about more than just speeding up transactions. It's about revolutionising the way businesses interact with financial services in real time. Fawran offers instant local payments, 24/7 accessibility and a seamless user experience. It's not just another feature; it's a view into the future of business banking. With faster payments, businesses can free up working capital, optimise cash flow and stay ahead in an increasingly competitive market. Here's the key takeaway: Payments are no longer a back-office function - they have become a strategic asset for growth. The companies that win in this new landscape will be those that prioritise speed and convenience as part of their financial strategy. Agility and adaptability are now essential to setting new industry standards. The future of B2B fintech isn't just about transactions - it's about experiences. Are we ready to embrace this future? (Image by CommercialBank) #PaymentsInnovation #Fintech #DigitalBanking #BusinessTransformation #DigitalPayments #Qatar

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“We send manual emails to 1,000+ merchants every day with settlement files,” said the CEO of a licensed PSP in the GCC. Continuing my series on SME challenges and solutions in Qatar, Saudi, Kuwait & Oman, here is an example from a payment gateway: Challenge Step 1: Download Mastercard, Visa, and local scheme files daily and use mail merge to create a single settlement file — manual, so prone to errors. Step 2: Calculate merchant settlement based on individual rates (MDR) using Excel — again, manual. Step 3: Send individual emails manually to merchants. Step 4: Manage exceptions (voids, reversals, chargebacks) through VLOOKUPs across multiple Excel sheets. Step 5: Reconcile bank settlements with agreed rates — a time consuming task. 4 accounts/finance guys doing above task. Solution Step 1: Automate scheme file downloads. Step 2: Upload merchant rates and auto-generate settlement files. Step 3: Automate email to all merchants on T or T+1 as agreed. Step 4: Handle exceptions through a case management system. Step 5: Automate bank reconciliation. Step 6 (the most insightful): Introduced an AI-based dashboard for merchant insights and transaction forecasting. ChatGPT kind of prompt to run queries on their data ; revenue by merchant etc I loved seeing this transformation in action — from challenge to solution.

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