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Visa has launched the "Tap-to-Add Card" feature in Egypt, allowing users to easily add Visa contactless cards to digital wallets with a simple tap on their mobile devices. This innovation enhances security by using a unique one-time code, reducing the risks associated with manual card entry. The feature aims to streamline the digital payment process, benefiting consumers and issuers alike by improving transaction efficiency and mitigating fraud risks.
Visa has launched the "Tap-to-Add Card" feature in Egypt, allowing users to easily add Visa contactless cards to digital wallets with a simple tap on their mobile devices. This innovation enhances security by using a unique one-time code, reducing the risks associated with manual card entry. The feature aims to streamline the digital payment process, benefiting consumers and issuers alike by improving transaction efficiency and mitigating fraud risks.
Careem Pay has launched its remittance service to Egypt, allowing UAE residents to transfer money directly to Egyptian bank accounts at competitive rates. With a market size of around US$10 billion, Egypt is a key destination for remittances from the UAE, particularly among the large Egyptian expatriate community. The service promises near-instant transfers and rates that are significantly lower than traditional banks, especially for Careem Plus members, coinciding with the increased remittance activity during Ramadan.
Careem Pay has launched its remittance service to Egypt, allowing UAE residents to transfer money directly to Egyptian bank accounts at competitive rates. With Egypt being a top recipient of remittances from the UAE, the service offers near-instant transfers and rates significantly lower than traditional banks, especially for Careem Plus members. The launch coincides with Ramadan, a peak time for remittances as expatriates support their families.
Ajras secures funding to enhance its position in Saudi Arabia's rapidly growing proptech sector, projected to reach $109 billion by 2030. Meanwhile, ORA Technologies raises $1.9 million to expand its digital payment and food delivery services in Morocco, aiming to drive financial inclusion. Talabat acquires InstaShop for $32 million, strengthening its grocery and retail presence across MENA.
Startup Bahrain has partnered with Reboot Coding Institute to enhance technical skills among entrepreneurs, aiming to strengthen Bahrain's digital economy. This collaboration will provide workshops and mentorship, equipping startup teams with essential coding expertise to foster innovation and competitiveness in the tech sector.
Elsewedy Electric has signed a USD 500 million agreement to establish a subsea cable factory in the Damietta Industrial Zone, covering 500,000 square meters and featuring a 180-meter manufacturing tower. This facility, the first of its kind in the Middle East, aims to produce 100% of its output for export, enhancing Egypt's role in global connectivity and supporting various industries, including renewable energy and petrochemicals. The project aligns with Egypt’s Vision 2030, promoting economic diversification and attracting investment.
LoftyInc Capital Management has raised $43 million for its LoftyInc Alpha Fund, targeting late-seed investments in promising African tech startups, particularly in Nigeria, Egypt, Kenya, and Francophone Africa. The fund attracted diverse backers, including sovereign wealth funds and development finance institutions, reflecting strong regional confidence in LoftyInc's investment capabilities. With a focus on helping startups scale, the fund leverages LoftyInc's extensive network and expertise to support founders in overcoming operational challenges and expanding their market reach.
Egypt is revitalizing its real estate sector to boost economic growth and housing availability, as stated by Minister Sherif El-Sherbiny. The strategy includes easing regulations for real estate funds, attracting foreign investments, and collaborating with Saudi Arabia and the UAE. With a projected growth in 2024 driven by demand from expatriates and Gulf citizens, the sector aims to meet the annual need for two million housing units, supported by major infrastructure projects and a focus on sustainable development.
Comera Financial Holdings, a subsidiary of Abu Dhabi's Royal Group, is transforming digital communication and fintech in the MENA and South Asia regions. The platform focuses on secure, localized solutions that integrate messaging, payments, and e-commerce, aiming to enhance user experience through AI-driven features and compliance with regional regulations. With plans to expand into Southeast Asia and Africa, Comera seeks to become a leading digital hub, promoting financial inclusion and seamless interactions.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
visa introduces tap to add card feature for digital wallets in egypt
04:04 11.03.2025
visa introduces tap to add card feature for digital wallets in egypt
04:04 11.03.2025
careem pay launches remittance service to egypt for uae residents
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03:54 11.03.2025
Careem Pay launches remittance service to Egypt for UAE residents
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moroccan superapp ora technologies secures funding to enhance digital services
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Elsewedy Electric to Build 500 Million Dollar Submarine Cable Factory in Egypt
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loftyinc alpha fund raises 43 million to boost african tech startups
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Egypt boosts real estate sector to attract foreign investment and drive growth
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comera redefines digital connectivity with secure communication and fintech solutions
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