Saudi Arabia

STC Pay Clinches One of the Two Digital Bank Licenses in Saudi

The Saudi cabinet has granted a digital bank license to STC Pay, a digital payments company which is a fully owned subsidiary of Saudi Telecom. STC Pay will be converted into a local digital bank, with a capital of SAR

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Saudi Fintech Tweeq Raises an Undisclosed Seven-Figure Funding

Tweeq, a Saudi-based provider of spending accounts for individuals and SMEs, announced the closure of an undisclosed seven-figure investment round, co-led by STV and Raed Ventures. The funding round, which follows on the heels of the company’s exclusive partnership with

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Amazon’s Alexa to Roll Out Skills Kit in Saudi and UAE by End of 2021

Developers can start building voice experiences, called “skills” for customers in the Kingdom of Saudi Arabia and the United Arab Emirates (UAE) using Amazon‘s Alexa Skills Kit (ASK). Skills that developers create which is certified for publication, will be available

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Dubai’s P2P Payments Firm Ziina Raises US$7.5 Million Ahead of Saudi Expansion Plans

Ziina, the UAE’s Peer-to-Peer (P2P) payment application backed by Y-Combinator (YC), announced its latest funding round of US$7.5 million. The round will help the company launch its new wallet service and fuel its expansion into Saudi Arabia. Ziina plans on

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Dutch Fintech Recharge.com Rolls Out Services in Saudi and the UAE

Dutch payments company Recharge.com announced the launch of its services in the Kingdom of Saudi Arabia and the United Arab Emirates (UAE). Recharge.com will provide a one-stop-shop marketplace for various categories of branded payments, including call credit, data bundles, shopping,

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Dubai’s P2P Payment App Mamo Raises $8 Million in Pre-Series A Funding

Mamo, a Dubai-based digital wallet and peer-to-peer payments platform, announced that it has raised US$8 million in its latest Pre-Series A funding round. The round was led by Global Ventures, along with the participation of 4DX Ventures, AlRajhi Partners, Olive

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Saudi Payments Unveils Instant Payments System Sarie With IBM and Mastercard

Saudi Payments, under the supervision of the Saudi Central Bank (SAMA) announced the launch of Saudi Arabia’s instant payments system ‘sarie’ in cooperation with IBM and Mastercard. ‘sarie’ now supports all Saudi banks across the Kingdom and is available for

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Saudi’s Buy Now Pay Later Platform Raises US$ 110 Million Led by Checkout.com

Tamara, a Saudi Buy Now, Pay Later (BNPL) platform announced the closing of its Series A funding round by raising US$ 110 million led by Checkout.com. The cash injection will be used by the company to scale its team, expand

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SABB and Geida Launches Tap-on-Phone Payment Option in Saudi

SABB and Geidea launched a partnership to launch an app-based tap-on-phone (SoftPoS) solution under the enablement and guidance of Saudi Payments. The payment acceptance process via smartphones combines SABB’s digital banking services with Geidea’s payments acceptance technology expertise. The initiative

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Saudi Central Bank Grants 2 More Licenses to Payment Companies

The Saudi Central Bank (SAMA) has granted two licenses to International Digital Solutions Co and Azm Fintech Co to provide payment services. This brings the total number of payments companies licensed by SAMA to 13 companies. This step comes from

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