Nawaf Abdullah

𝐋𝐈𝐍 𝟑𝟑𝟔 : 𝐁𝐔𝐍𝐀 (𝐀𝐫𝐚𝐛 𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐒𝐲𝐬𝐭𝐞𝐦) #Mastercard joins Buna, the Arab Regional Payment System The collaboration combines Mastercard Move’s money transfer capabilities and extensive network with Buna’s cross-border payment system to facilitate seamless cross-border payments into and out of the MENA region. The Arab Regional Payment System (Buna) is a centralized multi-currency platform that enables financial institutions (including commercial and central banks) to send and receive cross-border payments across the Arab region and beyond, in Arab and key international currencies. Buna is a cross-border and multi-currency payment system founded by the Arab Monetary Fund (AMF) in 2018. Buna was created in execution of the Council of Governors of the Arab Central Banks and Monetary Authorities decision, to mandate the AMF to establish a cross-border payment system that supports further economic and financial integration between Arab countries and expand trade and investment activities with the global trading partners. Currently, Buna facilitates payments across six currencies—US dollar (USD), euro (EUR), Saudi Riyal (SAR), Egyptian Pound (EGP), Jordanian Dinar (JOD), and Emirati Dirham (AED). Source : Buna.co

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B2B payments represent a niche segment within the payment industry, with potential for becoming a gateway to smoother B2B transactions. Despite advancements, there is considerable room for improvement to match the seamless nature of B2C transactions. #payments #B2Bpayments #fintech #GCC #paymentinnovations #visa #mashreq #emaar

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Talabat IPO Alert Big news for the UAE’s capital markets! Delivery Hero is set to list 15% of talabat in Dubai, aiming to raise over $1 billion, making this one of the region's standout IPOs in 2024. Why this matters: talabat’s growth story is impressive: 51% GMV CAGR (2015-2023) and a strong focus on scaling within a 71M population market. Its pivot to retail & grocery delivery, alongside AED 400M in 2025 dividends, signals a long-term strategy for profitability. Add in >90% cash conversion and AED 1.3B adjusted free cash flow (YTD 2024), and you see a business designed for resilience and investor appeal. But here’s what stands out to me: This IPO is not just about talabat—it’s a much-needed development for the regional tech and capital markets ecosystem. The Middle East, particularly the UAE, is positioning itself as a hub for innovation-driven public offerings, and I believe 2025 and beyond will bring even more transformative listings. 🚀 What are your thoughts? Is this the spark our ecosystem needs to reach the next level? What industries or companies do you think might follow Talabat’s lead? Let’s discuss below! 👇 #IPO #Talabat #TechEcosystem #MiddleEast #UAE #Innovation #Growth #CapitalMarkets #Investments

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Part 2 of one-fs.com x SCALABLE collab is out! Check out Egemen Eres post, featuring a B2B Fintech from Bahrain 🇧🇭 #fintech #fintechtrends #digitalbanking #startup #bahrain

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🎉 Big news alert! The Lebanese banking sector just got a major shakeup with the launch of WINK Pay, Lebanon's most disruptive payment experience! WINK Pay Pay partnered with Visa and Codebase Technologies to create a mobile banking app that addresses modern Lebanese needs like speed, convenience, and cost. By leveraging Codebase Technologies' Digibanc platform, Wink Pay integrated automated AML checking, passport and ID scanning with face recognition authentication, and fully digital omnichannel onboarding with an eKYC process. With innovative functionalities like instant virtual and physical card issuance, a wallet-based UI, and zero-deposit requirements during onboarding, Wink Pay is strategically positioned for growth in the Lebanese market. Over 5 million Lebanese now have access to a convenient solution to overcome the struggles of using debit and credit cards for purchases made abroad and online. Curious to learn more about how Wink Pay made this possible? Download and read the full case through the link provided in the comment section. #CodebaseTechnologies #Digibanc #WinkPay #DigitalInnovation #Fintech #Lebanon #Visa #Ekyc #InstantPrepaid

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Key Cross-Border Initiatives Around The World 🔹 Middle East and North Africa (MENA) and the GCC There are two cross-border initiatives under development in the region: the Arab Regional Payment System (Buna) by the Arab Monetary Fund, which has over 100 participants from 14 markets in MENA; and AFAQ by the Gulf Payments Company, led by the central bank of Saudi Arabia, has onboarded over 50 participants from GCC markets. Given the nascent nature of RTP systems in the region, both initiatives are currently focused on developing a faster and more efficient clearing and settlement infrastructure for wholesale payments, by linking the region’s RTGS systems. However, Buna does have the ambition to target a large set of use-cases, including P2M payments, and to develop links with markets beyond MENA. In contrast, AFAQ has not expressed any plans to go beyond wholesale payments within the GCC. 🔹 India's NPCI International Strategy The National Payments Corporation of India (NPCI) has outlined an ambitious international strategy, concentrating on enhancing the interoperability of the Unified Payments Interface (UPI) with QR payment platforms across various markets, alongside expanding the global acceptance of the RuPay card. The primary objectives of the NPCI are to facilitate easier payment solutions for Indians traveling or residing abroad and to make the remittance process more efficient for non-resident Indians. To this end, UPI has successfully established interoperability with QR-based payment systems in Singapore, the UAE, and Bhutan. The initiative is progressing through different stages of development in four markets within the Middle East and Asia. Moreover, through collaborations with partners such as Buna, Liquid Group, Worldline, Lyra, Payxpert, and Terrapay, NPCI is aiming to extend UPI's acceptance to at least 30 additional markets. 🔹 US and Europe The Clearing House (TCH), EBA CLEARING, and SWIFT are collaborating on the Immediate Cross-Border Payments (IXB) pilot service, aimed at facilitating cross-border payments in USD and EUR. Drawing upon a similar framework to Project Nexus, the IXB initiative seeks to establish a connection between the Real-Time Payment (RTP) system in the United States, operated by TCH, and the RT1 system in Europe, managed by EBA CLEARING. Additionally, discussions are ongoing with other countries about potentially joining this initiative. This effort is in line with the G20's goals for creating payment systems that are fast, cost-effective, transparent, and widely accessible. The technical proof of concept has been completed, and efforts to align with regulatory requirements are progressing, setting the stage for a commercial launch slated for 2024. 👉 Subscribe for more insights https://lnkd.in/d94JgWBU Source Kore Fusion #fintech #payments #crossborder

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Saudi fintech Tabby acquires digital wallet startup Tweeq in regional consolidation #Tabby, a leading buy now pay later #fintech founded in 2019 in the UAE by Hosam Arab, has announced the acquisition of Saudi fintech #Tweeq, a digital wallet licensed by the Saudi Central Bank – SAMA Bank (SAMA). This strategic move allows Tabby to expand its financial product offerings by integrating Tweeq’s digital wallet services, including spending accounts, cards, and money management tools. Tweeq, founded in 2020 by Saeed Albuhairi and Abdulaziz AlMalki, provides an alternative to traditional banking in Saudi Arabia. The acquisition aligns with Saudi Vision 2030’s goals to boost digital financial services and supports Tabby’s mission to promote a cashless society. Backed by investors like Wellington Management, Bluepool Capital, STV, Mubadala Capital, PayPal Ventures, and Arbor Ventures, Tabby continues to solidify its position in the MENA region’s fintech landscape, marking a significant step in the evolution of the Middle Eastern financial ecosystem. The article on Wamda ومضة in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://lnkd.in/d4h8zqKA  - Substack: https://lnkd.in/dzfGJzmW

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FlapKap Secures $34M Pre-Series A to Scale SME-Financing Across MENA Speaking on the round, Ahmad Coucha, FlapKap CEO and Co-founder said, “The growth in data has made it easier than ever to support SMEs, and at FlapKap, we're rising to the occasion. By leveraging data and technology, we're breaking down the barriers that SMEs face in accessing financial services. We're now able to assess risk more accurately and reduce underwriting costs, addressing the two biggest obstacles faced by incumbent financial institutions. This investment will support our continued growth in the UAE and Egypt and further our expansion into the rest of the GCC, and help us gain valuable insights from our high-calibre investment partners.” https://lnkd.in/enpyxyDn Yemi Kuti Wimbart Walter Gontarek Channel Karim Abadir BECO Capital Reem Wyndham Pact Khaled Nassef #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Mastercard has joined forces with Buna (The Arab Regional Payments Clearing and Settlement Organization), to transform cross-border payments into and out of the MENA region. By integrating Mastercard Move’s extensive network and money transfer capabilities with Buna’s real-time payment systems, this partnership aims to offer faster, cheaper, and more transparent payment solutions. Businesses and consumers in MENA will benefit from this collaboration, eliminating many of the existing barriers such as high costs, long wait times, and lack of transparency. The partnership allows financial institutions around the world to send cost-efficient payments to Buna participants via a single connection to Mastercard Move. In return, Buna participants can leverage their existing infrastructure to access Mastercard’s global network, extending the reach of cross-border payments beyond MENA. This integration also provides an efficient way for financial institutions to serve both their corporate and consumer clients with enhanced connectivity and speed. One of the key advantages of this partnership is its ability to offer real-time monitoring and due diligence through Buna’s rigorous compliance program, which includes Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) protocols. The system ensures that all financial transactions are safeguarded, adding an extra layer of security for both financial institutions and their clients. According to Mastercard’s Alan Marquard and Buna’s CEO Mehdi Manaa, this collaboration is a major step toward financial inclusion and economic growth in the region. By avoiding the need for major infrastructure changes, banks can quickly adopt this seamless solution to provide more effective services to their clients, boosting trade and investment across borders. #CrossBorderPayments #FinancialInclusion #GlobalPayments #Buna #MastercardMove #MENA #PaymentInnovation #EconomicGrowth #DigitalFinance

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#Fintech news: BKN301 Launches 301 Retail Account, a Payment Solution for MENA Fintechs 🚀 🇬🇧 BKN301, a UK-based leader in digital payments and Banking-as-a-Service (BaaS), has introduced its latest innovation—the 301 Retail Account, designed to meet the evolving needs of MENA's fintechs, traditional banks, and neobanks. 🌐 This new payment solution offers a range of features including customizable debit cards, personalized spending limits, and euro-based accounts, all managed through a user-friendly dashboard. It incorporates e-signature capabilities and robust KYC/AML protocols to ensure compliance and security from day one. 🖥 With flexible integration options, BKN301's partners can seamlessly embed this solution into their own platforms through white-label solutions for desktop, mobile, and API environments—allowing fintechs to enhance their services without major infrastructure changes. 💸 As digital payments continue to rise in the MENA region, driven by a young, tech-savvy population, BKN301's solution aims to promote financial inclusion and fuel economic growth. The 301 Retail Account is part of BKN301's broader BaaS platform, empowering businesses to streamline financial operations through customizable APIs. 🌍 BKN301, with a presence across key global markets like South Africa, Australia, the UAE, and the U.S., continues to lead the way in secure, scalable fintech solutions since its founding in 2001. #DigitalPayments #BaaS #PaymentSolutions #DigitalTransformation #FintechInnovation

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Delivery Hero, the Germany-based food delivery platform, plans to list 15 per cent of its UAE subsidiary Talabat on the Dubai bourse in the fourth quarter, as it looks to capitalise on the listing boom in the Emirates. A total of 3,493,236,093 shares, each with a nominal value of Dh0.04, will be made available in the offering, on-demand food and quick-commerce company Talabat said in its prospectus on Monday. The subscription period will open on November 19 and end on November 27 for UAE retail investors, including eligible employees of Talabat, and on November 28 for institutional investors. The retail tranche will be 5 per cent of the total shares on offer, with the remaining allocation reserved for qualified institutional investors. The offer price will be determined through a book building process during the subscription period, the company said. The company expects to start trading on the Dubai Financial Market on or around December 10. #business https://lnkd.in/dj9R9F-v

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Saudi Arabia is solidifying its position as a global fintech hub, driven by Vision 2030 and massive investment inflows. In 2024 alone, the fintech sector saw over $186 million raised across 50 deals, a 360% year-on-year growth. With over 224 active fintech companies in the Kingdom, Saudi Arabia is pushing the boundaries of digital transformation. Key highlights include: 1. Strong Fintech Investment: Saudi Arabia aims to increase the number of fintech firms to 525 by 2030, creating over 18,000 jobs and contributing $3.5 billion to the economy. 2. Growth in Cashless Payments: The Kingdom's cashless transactions accounted for 70% of total retail payments in 2023, surpassing the 2025 target two years ahead of schedule. Saudi Arabia’s commitment to fintech is not just about numbers; it’s about creating an environment that fosters innovation, supports startups, and builds a digitally empowered economy. #SaudiArabia #Fintech #Vision2030 #DigitalTransformation #CashlessSociety #FintechInnovation #SaudiArabia

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Mastercard and MyFatoorah Join Forces to Redefine E-Commerce Payments in the Middle East MyFatoorah, a leading payments platform and the only payment service provider (PSP) licensed in all GCC countries offering payment solutions across the Middle East, has announced its strategic collaboration with Mastercard to introduce new digital payment gateway platform, powered by Mastercard Gateway. Through this partnership, MyFatoorah will deploy state-of-the-art payment solutions to enhance the customer experience for its 75,000+ merchants in the region. The integration of the solution will enable merchants to offer fast, seamless, and secure transactions as well as convenient payment choices to customers. The new partnership between MyFatoorah and Mastercard aims to evolve the region’s e-commerce landscape, enabling seamless shopping experiences, higher conversion rates, and helping to reduce fraud. Abdullah Al Dabbous, Founder & Managing Partner of MyFatoorah, said: “The shifting demands of consumers and the fast pace of change in e-commerce are fuelling innovation in payments. Our collaboration with Mastercard to introduce Mastercard Gateway reflects our dedication to improving the online shopping experience and making e-commerce more seamless.” Gina Petersen-Skyrme, Country Manager, UAE & Oman at Mastercard, said: “Mastercard is dedicated to broadening the spectrum of innovative payment solutions across the region. We are excited to collaborate with MyFatoorah to introduce Mastercard Gateway. This partnership not only strengthens our digital payment acceptance network but also aligns with our mission to enhance everyday experiences for consumers.” Read more: https://lnkd.in/dm8h2pme #Partnership #Mastercard #MyFatoorah #MiddleEast #Payments #Digitalpayment #IBMag

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Tabby, the buy now pay later platform based in Riyadh, has made its first acquisition by purchasing Saudi mobile wallet Tweeq. This strategic move aims to enhance Tabby's offerings beyond BNPL services, a sign of the evolving fintech landscape in the region. With a recent valuation of $1.5 billion, Tabby’s acquisition speaks volumes about the growth opportunities in Middle Eastern digital finance. - Expect more such partnerships as companies focus on integrated financial solutions. - The trend towards consolidation will likely redefine customer engagement strategies across the sector. As we witness this shift, it's crucial for tech talent to keep pace with the demands of an increasingly integrated financial ecosystem in the region. #Fintech #Acquisition #MiddleEast #DigitalFinance

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Fintech Funding in MENA Sees a 650% Increase From 2020 to 2023, Remaining the Top Investor Choice in H1'24 🚀 Get to know the latest FinTech trends in MENA from our latest report: https://lnkd.in/dSCtgwm3 #MENA #Fintech #Trends #Startups #VentureCapital

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Apple’s Tap-to-Pay Expansion: What It Means for UAE Payments ? Apple's decision to open up its Tap-to-Pay feature to third-party apps with the iOS 18.1 update is a significant leap forward. By ending Apple Pay’s exclusivity, businesses and financial apps in the UAE can now integrate this feature, bringing more convenience and choice to consumers. Imagine apps like Emirates NBD’s Liv. or Etisalat’s Smiles enabling secure, contactless payments directly through iPhones without relying solely on Apple Pay. This move could accelerate the adoption of digital wallets and loyalty programs across the UAE, boosting the nation’s drive toward a cashless economy. With Apple embracing openness, we’re likely to see a surge in payment innovations, offering both businesses and consumers new ways to engage and transact. #Apple #Fintech #UAE #DigitalPayments #Innovation #CashlessEconomy #iOSUpdate

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Surge in Digital Payments, Shift from Cash on Delivery, and Security Concerns Shape the Landscape, Signaling Opportunities for Businesses. Remo Giovanni Abbondandolo - Checkout.com Click here to read the complete story: https://shorturl.at/01VqK #sme10x #digitalpayments #financeindustry

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Picture this: a whole new era in MENA’s payment scene, and Geidea, a heavy hitter in fintech, teams up with tpay, the payment connector kingpin. They’re pulling out all the stops to bring an integrated payment solution to the Middle East. We’re talking about KSA, Egypt, the UAE—big markets, big dreams. And with digital payments growing at 17.7% a year in this region, their timing? Couldn’t be better. Read the full story here: https://lnkd.in/dzPv2fqw geidea tpay Mobile

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Instant payments are alive and thriving in the Middle East, and so is instant fraud and money laundering 🧺. For more traditional payment companies, this is tough to deal with 😖 - old systems built on paper and files find it really hard to adapt to modern anti-fraud and AML measures. Something James Smith and I have preached since the beginning of Fuse Finance is the importance of building products compliance first. Years of building payments products across multiple companies has helped us see how vital it is to design systems around both customer need AND customer safety 💪🏻. Adding anti-fraud and AML mechanisms later on in the product life cycle is not only more difficult, but leaves greater vulnerabilities whilst simultaneously creating tension with your own compliance team. One of our earliest hires to the team was our Chief Compliance Officer, Kathryn W. 🕺🏻. Typically this role doesn’t come in the pre-product stage but for us it was really important to collaborate with a solution driven compliance leader from day one. We’ve spent a tonne of time working out what the best solutions are for Fuse Finance, with a mix of both building and buying. Here are some tools we think are really cool: 🚀 Unit21 🚀 SEON 🚀 Sardine 🚀 Secureframe 🚀 Veriff #payments #fraud #aml #compliance #mena

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