Bahaa Dawoud’s Post

Mastercard partners with Loop Saudi to launch innovative payment solutions in Saudi Arabia. Mastercard has partnered with Loop, a leading digital payments technology company licensed by SAMA, to empower businesses and consumers across the Kingdom with greater access to advanced credit card offerings and innovative payment solutions. The partnership will see Loop expand its portfolio, enhance its suite of products and services through leveraging Mastercard technology and expertise. Having signed an exclusive issuing agreement, Loop and Mastercard will partner to issue BIN ranges, enabling consumers, merchants and fintech’s across the Kingdom to benefit from innovative payment solutions. “We believe financial inclusion is vital to powering social and economic reform in Saudi Arabia. Our goal is to play a leading role in effecting this positive change by pioneering financial solutions that empower our customers to accomplish their goals. Partnering with Mastercard and leveraging the company’s technology will enable us to do that and more, contributing to the Kingdom’s prosperity,” said, Ali Alobaid CEO, Loop. “Technology and innovation are the bedrocks of sustained success; particularly with businesses and financial institutions around the world being confronted with new and unprecedented challenges. We work to empower our clients and partners with the tools to meet their targets and accomplish their goals. We aim to enable Loop to do just that, catering to the needs of Saudi businesses and consumers with an innovative range of payment solutions,” said Adam Jones, Country General Manager, MENA Central, Mastercard. Source: https://lnkd.in/edz27U_n #payments #paymentservices #paytech #paymentsolutions #partnership #financialtechnology #financialservices #fintechnews

LHV Bank’s commitment to innovation has been acknowledged as it is announced a finalist in the Best B2B/B2C Payments category of the prestigious Pay360 Awards. Erki Kilu, CEO of LHV Bank said: “Being shortlisted in the prestigious Pay 360 Awards is an important landmark for LHV Bank. Our continued goal is to create products and services that are simple and transparent, underpinned by market-leading tech and delivered by people who are well supported personally and professionally and therefore motivated to bring a fresh approach to banking.” The Pay360 Awards celebrates innovation and collaboration by recognising companies that have made significant advances in how people and businesses pay today. Now in its 17th year, The Pay360 Awards is the most prestigious event of the year for the UK payments industry, attended by over 950 of the most senior executives from across the payments value chain. Winners will be announced on 4th October at the Grosvenor House Hotel, London. Read more below 👇 https://lnkd.in/deSg7DtN #LHVBank #bankingservices #pay360awards

Stitch is the first modern third-party issuer processor in Saudi Arabia — which means that issuers can work with us to do their issuing processing. As an issuer partner, we cater to innovators. Our comprehensive and innovative API-driven platform is seamlessly integrated into the global and local payments ecosystem. This enables corporates and #Fintechs aiming to develop payments solutions to concentrate on their core strengths — crafting exceptional products and acquiring customers. We also work with Fintechs and corporates that are not licensed by a financial regulator to issue payment devices independently. Instead, they work with us as their issuer processor and utilize our technological infrastructure. If you are building a payment product in Saudi Arabia or the wider Middle East, reach out to us to explore how we can help you focus on managing your back-end infrastructure so that you can focus on what really matters — innovating and enhancing your customer experience. #payments #paymentsinnovation #stitch

The BNPL wave is crashing across the globe, and these THREE 👌 recent moves prove it's not slowing down: ➀ Europe Goes Big with Episode Six ↳ Episode Six (E6) has been selected to join the Mastercard Engage program for its instalments solution in Europe, enabling traditional issuers to offer these new instalment solutions to banks, meeting the growing demand for BNPL and creating new revenue streams. ➁ Crédit Agricole Consumer Finance Solidifies BNPL Presence with Pledg ↳ Credit Agricole Consumer Finance acquired BNPL provider Pledg to consolidate its split payment activities both on e-commerce journeys and at points of sale, positioning Sofinco as the benchmark player in the French market. ➂ ila Bank Makes Payments Easier in Bahrain ↳ Bahrain-based ila Bank launched the Easy Payment Plan feature to allow clients to split their credit card purchases into instalments, enabling them to manage payments over time for items that may be financially challenging to settle all at once. Want more deets on these headlines and all the other latest fintech news? Dive into the latest edition of our weekly Future of Fintech newsletter! Packed with insights and the hottest fintech news for your weekend reading pleasure 👉: https://lnkd.in/gBNVFdjC #fintech #newsletter #embeddedfinance #BNPL #installments

According to a recent report by GlobalData, the card payments industry in the Philippines is set to experience substantial growth, with a projected value of $61.1 billion by 2024. This marks a 17.2% increase from the previous year and is fuelled by the rising trend towards cashless transactions, showcasing the country's increased embrace of digital payments. The implementation of government schemes like the Digital Payments Transformation Roadmap (2020-2023) has been instrumental in broadening financial inclusivity. The objective of this plan is to transition half of retail payments to digital platforms and incorporate 70% of Filipino adults into the formal financial sector by 2023. Credit and charge cards emerge as the primary players in the market, constituting 58.5% of the overall card payment value in 2023. These cards are favoured for their perks such as loyalty points and flexible payment schemes, which have played a role in their widespread adoption among consumers. Looking ahead, the industry is anticipated to sustain its growth trajectory, reflecting continuous consumer expenditure and persistent endeavours towards digital modernisation. Learn more in Electronic Payments International: https://buff.ly/3XzLGCR #DigitalPayments #FinancialInclusion

🚀 Major Shifts in the BNPL Landscape in GCC: A New Era Dawns 🚀 🌐 Exciting Developments in UAE and Saudi Arabia: The Buy Now, Pay Later (BNPL) market in the GCC, particularly in UAE and Saudi Arabia, is poised for a transformative shift. The long-standing monopoly of major BNPL players (Tamara and Tabby) is set to be challenged, thanks to groundbreaking moves by global giants Mastercard and Visa. 💳 Mastercard and Visa's Game-Changing Strategy: These financial behemoths are gearing up to revolutionize the BNPL space. Their strategy? Enabling every cardholder to split transactions into four parts at any of their merchants - all without the need to download a separate BNPL app or link another card. This integration means consumers can enjoy their usual credit card rewards on these split transactions, adding a significant value proposition. 🔍 Regulatory Changes and Their Impact: Stringent regulations are making the operating environment increasingly challenging for traditional BNPL players in the GCC. However, this is not a sign of doom for the BNPL sector. 🎯 Focus on the Unbanked and Underbanked: The major target market for BNPL firms – the unbanked and underbanked population – remains largely untapped by credit card companies. This demographic offers a substantial opportunity for BNPL services to continue flourishing. 🌱 Growth Opportunities Ahead: The future looks bright for both banks and fintech companies in the BNPL arena. With the potential for BNPL-specific credit cards and continued fintech offerings, there's ample scope for growth and innovation. 🔥 Conclusion: The BNPL landscape in the GCC is evolving rapidly, driven by new players, regulatory changes, and shifting market dynamics. It's a thrilling time for consumers and businesses alike as they navigate this new era of financial flexibility and innovation. PS - Snapshot is from the update from Dubai First credit card on providing BNPL through their credit card. #BNPL #GCCFinance #FintechInnovation #Mastercard #Visa #FinancialInclusion #UAE #SaudiArabia #BankingTrends

Excited to participate in the upcoming The Payments Canada SUMMIT. Please join me and a panel of industry experts to discuss about advancements in cross-border payments. https://lnkd.in/gyVrvKWz #TD #payments #PaymentsCanadaSummit

Saudi Arabia is setting a new benchmark in the global financial landscape, with an astonishing leap in digital transactions! - 💳 Digital Transformation: The Kingdom has seen retail consumer electronic payments skyrocket to 70% of the total in 2023, marking a significant rise from 62% just a year earlier. - 📈 Volume Increase: A massive surge in the volume of transactions through national payment systems is noted, with figures jumping from 8.7 billion to a staggering 10.8 billion deals within a year. - 🚀 Vision 2030 Alignment: This pivotal shift is a strategic move towards achieving the objectives set under the ambitious Saudi Vision 2030, aimed at diversifying and efficiently scaling the financial services sector. - 🛠 SAMA’s Proactive Role: The Saudi Central Bank is making strides in promoting digital transactions by substantially enhancing the national payments infrastructure and services. - 🌐 Economic Facilitation: By embracing an array of digital payment options, the initiative not only simplifies transactions but also propels economic activities, steering the retail e-payment sector's explosive growth. What initiatives do you think are key to further accelerating digital payment adoption in your country? #SaudiArabia #vision2030 #digital #retailtrends

🚀 #GCC is reshaping the financial landscape with Buy Now, Pay Later (#BNPL) services, marking a significant shift in consumer payment behaviour. This transformative concept allows customers to make purchases and stagger payments over time, disrupting traditional payment models. The key catalysts behind this paradigm shift are seamless digital experiences and enhanced consumer flexibility, enabled by cutting-edge technology. Across the Gulf Cooperation Council (GCC) region, there has been a remarkable evolution in BNPL regulations, showcasing the commitment to fostering a modern and consumer-centric financial ecosystem. Delve into our insightful #infographic below to explore the regulatory frameworks implemented by GCC countries, reflecting their dedication to driving innovation in the BNPL sector. Gain valuable insights from industry thought leaders such as Ibtissam Ouassif (Co-founder of cashew), Mohamed El-Shabrawy El-Feky (Founder of Sympl) and @Ziyaad Ahmed (Co-founder of Spotii in a Box) as they share their perspectives on the dynamic GCC BNPL landscape. Uncover comprehensive information on BNPL service providers, emerging trends, and in-depth analysis shaping the future of #BNPL in the GCC. For a deeper understanding of the BNPL landscape in the GCC, check out our comprehensive white paper by following the link provided below 👇: Whitepaper link: https://lnkd.in/dD3baJaH

We are live at Payments Canada Summit! Stop by our booth and we'll be delighted to discuss integration with popular international e-wallets used by billions of consumers. And you won't want to miss our World of Payments breakout session on Thursday, May 30 at 11:45 where we'll take a deep dive into the use cases, benefits and how it all works. #payments #canada #tradeshow #worldofpayments #paymentsmatter