Jordan’s International Cards Company (ICC) has inked a deal to issue UnionPay cards next year. This is the first UnionPay card in Jordan.
Riyad Bank, one of Saudi Arabia’s top financial institutions, is migrating its entire portfolio to Gemalto’s Clarista Contactless EMV card, powered with the industry-standard MULTOS operating system. This is the country’s first contactless payment method.
After the implementation of the Kyrgyzstan bank card settlement project in central Asia, Globebill signed a bank card settlement cooperation agreement in Saudi Arabia.
Qatar’s Doha Bank and China UnionPay inked a deal for the issuance of the first UnionPay card. Doha Bank, holding one-fourth market share, is one of the top merchant acquirers in Qatar.
compareit4me Group, which operates finance comparison websites across the Middle East, has raised $3 million in VC funding.
New research reveals account takeover fraud, in which fraudsters steal an established account with personally identifiable information (PII) attached to it, continues to beat credit card fraud. Account creation fraud has increased by more than 100% since February 2015.
The Saudi Investment Bank (SAIB) has been awarded with ‘Best Loyalty Program of the Year in Financial Services’ at The Loyalty Awards, honoring special recognition of innovation and achievement in loyalty marketing.
Global discretionary spending intentions declined or remained steady in the first quarter across all lifestyle categories. While confidence across global regions remained relatively stable in the first quarter, there is considerable variation across different markets.
San Francisco-based Boku has buddied with MT2 to bring direct carrier billing to Google Play for Zain subscribers in Saudi Arabia. This benefit is particularly important in Saudi Arabia, where only 17% of consumers have a credit card and only 46% have any kind of bank account.
CardWeb.com’s CardPixes database of more than 7,000 images today features the Emirates NBD Titanium MasterCard.
While payment products are quickly penetrating African consumer markets they are primarily used for income dispensing by not for payments. South Africa, Nigeria, Tanzania, Uganda and Egypt have advanced in enabling access to and driving usage of different financial products including payments, lending, long-term savings or investments, and insurance.
The number of payment cards-in-force (CIF) in Eqypt hit 17.0 million in 2014, compared to 10.0 million five years ago, growing at a compound annual growth rate (CAGR) of 11.2%. The Egyptian economy is the second-largest in the Middle East after Saudi Arabia.