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Quick Connections - w/c 20.03.2023

  • MENA Open Banking provider Lean Technologies announced partnerships with BNPL providers Tabby and Tamara this week. (Link)

  • is best known for payment processing, however this week it announced a major move into embedded finance with the launch of card issuing for its customers. (Link)

  • Tamara, the Saudi-based Buy Now Pay Later (BNPL) provider, announced a $150m debt financing round from Goldman Sachs to accelerate the adoption of their instalment-based payment option. (Link)

  • The popularity of BNPL in the GCC was clearly demonstrated in a case study released by Tabby about their deployment with Alternative Airlines who saw a 7.5% uplift in sales from the region and 41% in average order value following the launch of Tabby on their website. (Link)

  • The MENA FINTECH ASSOCIATION and Binance announced a partnership to drive innovation and growth in the fintech industry across the region. (Link)

  • The Central Bank of The UAE held a signing ceremony with G42 Cloud and R3 to mark the implementation of the CBUAE Central Bank Digital Currency (CBDC) strategy titled 'The Digital Dirham'. (Link)

  • announced that it has received its MVP Preparatory License from Dubai’s Virtual Assets Regulatory Authority (VARA). This follows the initial provisional approval secured from VARA in June 2022. (Link)

  • The open banking platform Tarabut Gateway is entering the region’s busy crypto market. The company announced a partnership with Rain, the first regulated cryptocurrency asset trading platform in MENA. (Link)

  • Tap Payments, the leading paytech company in MENA, is offering PayPal onboarding, operations, and payouts to businesses through its partnership with the worldwide leader in the payment industry. (Link)

  • Digital payments leader across the MENA, Amazon Payment Services, has launched a new thought leadership forum; ‘re:Imagine Payments’. The forum aims to support merchants and individuals to increase their knowledge in the digital payments space. (Link)

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