Eliminating Technology Debt in Digital Payments: Why SaaS is the Future

As digital payments evolve, financial institutions face a major challenge: balancing innovation with maintaining existing IT assets. However, as Dr. John Wamai, Director at Equity Bank, warns in his recent LinkedIn post: “The pressure and urge to ‘sweat’ and maximize IT assets often lead to outdated and inefficient systems, temporary fixes, and poor integration—ultimately misaligning

MoneyHash Raises $5.2 Million Pre-A Funding

MoneyHash

MoneyHash, the first and leading payment orchestration platform operating in the Middle East and Africa (MEA), has secured $5.2M in pre-A funding. The round was led by Flourish Ventures, a global fintech investor known for backing industry leaders such as Chime and FlutterWave. New investors include Saudi’s Vision Ventures, Arab Bank Venture Capital, and Emurgo

Cairo Amman Bank Taps Mastercard Move to Facilitate Cross-Border Payments

Cairo Amman Bank

Cairo Amman Bank will leverage Mastercard Move’s money movement capabilities to facilitate the movement of funds from Jordan to 37 countries. The bank will also incorporate Mastercard value-added services like fraud analytics and risk control, the companies said in a Thursday (Jan. 16) press release. “We aim to address existing challenges in cross-border payments and

Paymob Secures UAE Central Bank License, Cementing Its Role as a Regional Fintech Leader

Paymob

Paymob, the leading financial services enabler in MENA-P, announces it has been granted the Retail Payment Services License by the Central Bank of the UAE (CBUAE) after successfully meeting all regulatory conditions and requirements through a rigorous approval process. The license authorizes Paymob to offer merchant acquiring, payment aggregation services, and domestic fund transfers within

Apaya and Telr Join Forces to Boost E-commerce Ecosystem in MENA

Apaya

Apaya, a commerce automation platform, entered into a strategic partnership with MENA’s online payment gateway Telr to accelerate digital commerce growth in the region. The collaboration will allow merchants to instantly access Telr’s payment services through Apaya’s no-code platform, according to a press release. They will also leverage Telr’s anti-fraud engine alongside Apaya’s intelligent routing

PayMint Fintech Gains Central Bank of Egypt Nod for Meeza Cards

PayMint

PayMint, a leading financial technology company, has announced that it has obtained final approval from the Central Bank of Egypt to launch its first Meeza prepaid cards in partnership with Abu Dhabi Islamic Bank – Egypt (ADIB-Egypt). This milestone aligns with the bank’s continuous efforts to collaborate with FinTech companies to provide flexible solutions that

eFinance Investment Group and Cassava Technologies Partner to Expand Business in Egypt and Africa

eFinance Investment Group

eFinance Investment Group and Cassava Technologies have signed an agreement to explore and identify opportunities for collaboration and joint expansion across Africa. The signing ceremony took place during the 28th Cairo ICT Exhibition and Conference, which President Abdel Fattah El-Sisi hosted. eFinance Investment Group and Cassava Technologies plan to leverage each other’s respective strengths and

Arrabet Morocco and Skaleet Partner for a New Neo-Bank Offering in Africa

Arrabet

Arrabet, a major player in digital transformation in Morocco, has partnered with Skaleet, a leader in next-generation core banking solutions in Europe and Africa, to launch a new neo-banking offering dedicated to the African market. Arrabet announced the deal in a press release Wednesday. This partnership aims to transform access to digital financial services and

TerraPay and Africa’s enza Form Cross-Border Payments Partnership

TerraPay

TerraPay, a leading money movement company, has partnered with enza, an Africa-focused payments technology firm. The collaboration, announced Wednesday (July 10), is designed to promote financial inclusion in Africa, the companies said in a news release provided to PYMNTS. That means Enza—with offices in South Africa and Egypt—can harness TerraPay’s connectivity to more than 2.1

African Development Bank Appoints Dr. Emmanuel Pinto Moreira as Director of Special Operations in the President’s Cabinet

African Development Bank

African Development Bank Group has appointed Dr. Emmanuel Pinto Moreira as Director of Special Operations in the President’s Cabinet Office, effective 1 July 2024. Dr. Pinto Moreira, a Beninise economist, brings over three decades of experience in macro-fiscal, growth, poverty, economic governance, trade, and competitiveness-related work. His career spans middle-income and low-income countries in the