Dubai FinTech Set To Offer Gold-Backed Digital Currency
On Tuesday, Dubai FinTech company OneGram announced it would offer a gold-backed digital currency called OneGramCoin with the hopes of raising over $500 million in capital. If reached, this target...
View ArticleVisa, Dubai Launch Second UAE Card Security Week To Promote Safe Shopping
The Department of Economic Development (DED) in Dubai and global payments technology company Visa launched the second annual UAE Card Security Week to promote safe online shopping habits and help...
View ArticleCardtek Teams With NXP To Enable Mobile Pay In Dubai And UAE
Cardtek, a provider of global payment technologies, announced Wednesday (June 7) that it is collaborating with NXP Semiconductors to deliver the first nationally sanctioned mobile pay solution for...
View ArticleNoon And The Race For Middle Eastern eCommerce
Until fairly recently the Middle East was a rather underdeveloped region from an eCommerce point of view. According to McKinsey, 50 million consumers are scattered across several countries in the...
View ArticleMiddle East Online Marketplace Slowly Taking Shape
eCommerce has become a natural part of life in many parts of the world, but that hasn’t been the case in the Middle East. Most of the region’s eCommerce traffic is coming from a single country: the...
View ArticleNew Global FinTech Deal Highlights Collaborative Trend
The latest global FinTech collaboration ties together Singapore and Dubai in a deal designed to encourage innovation in digital payments, online and mobile commerce, and related areas. According to a...
View ArticlePundi X CEO On Dialing Up Digital Payments, Calling Up Blockchain Phones In...
A small test market could be ground zero for seismic changes in commerce and payments — and now possibly for cryptos. Consider Dubai, a city in the United Arab Emirates (UAE), home to 3 million souls....
View ArticleDubai Launches Business-To-Gov’t Digital Wallet
Dubai is looking at digital wallet technology to ease the friction of paying government fees for both businesses and consumers. Reports on Monday (May 6) said Dubai’s Department of Finance (DOF) has...
View ArticleUber To Finance Careem Acquisition With $750M Of Debt
Uber said Thursday (Sept. 12) that it will tap $750 million in debt financing to help fund its $3.1 billion buy of Careem, a ride hailing company that is based in the Middle East. As reported by Yahoo...
View ArticleUber Buys Dubai Ride-Hailing Unicorn Careem For $3.1B
Uber coughed up over $3 billion to get its hands on Dubai’s ride-hailing startup Careem, the Financial Times reported on Wednesday (Oct. 2). Founded in 2012, the ride-hailing unicorn – which is valued...
View ArticleIs Paying Consumers For Their Time The Future Of Physical Retail?
Among the more famous aphorisms of Benjamin Franklin was his 1748 observation that “time is money” — a fancy way of saying that making money requires the input of time, thus wasting time is wasting...
View ArticleUber Shuts Eats In Middle East As Subsidiary Cut A Third Of Workforce In Dubai
Dubai-based Careem, a subsidiary of Uber which performs similar ride-hailing business, announced it would be laying off 31 percent of its workforce due to the coronavirus, or 536 jobs total. The...
View ArticleDubai Creating $870M Free Trading Zone For eCommerce
The government of Dubai is planning to create an $870 million free trade zone for eCommerce named Dubai CommerCity (DCC). The development project will be located next to Dubai International Airport....
View ArticleSurvey: Three Quarters Of Dubai SMBs May Shutter By October
In what could be among the most devastating economic impacts of COVID-19 overseas, a survey revealed 75 percent of Dubai businesses said they expect to close within the next six months, CNBC reported....
View ArticleToday In Payments: China Drops GDP Target; Dubai Creating Free Trading...
In today’s top news, China has opted not to set any economy growth forecast amid the uncertainty caused by the pandemic, and Dubai is creating a free trade zone for eCommerce. Plus, the Office of the...
View ArticleCareem CEO: Full Recovery Far Away, But ‘Super App’ Expands
The CEO of Careem, Uber’s Dubai ridesharing subsidiary, said he doesn’t expect a full recovery until next year, but predicted accelerated expansion for the company’s “super app.” “This crisis is, if...
View ArticleClik here to view.
How Digitalization Soothes Cross-Border Payment Pain Points
Few countries are more familiar with the challenges associated with cross-border payments than the United Arab Emirates, where the population of 9.2 million includes 7.8 million immigrants. Those...
View ArticleTradeling CEO Outlines Dubai’s B2B eCommerce Modernization Game Plan
Dubai is a city that has for centuries operated as a keystone of B2B trade across the Middle East, North Africa and Asia (MENA) region. While its rich commerce history has fostered an ecosystem of...
View ArticleStripe Heads To Dubai For UAE Launch
FinTech startup Stripe is heading to Dubai for its debut into the Middle East and North Africa (MENA), CNBC reported on Tuesday (April 6). Valued at $95 billion after its latest funding round in March,...
View ArticleDubai Debuts Own Cryptocurrency Valued At $0.17 Per Coin
Dubai is debuting a digital currency called DubaiCoin with an international starting price of $0.17 per coin, according to a press release. Consumers can use DubaiCoin to pay for goods and services,...
View Article
