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GCC set for fintech surge, reveals Mastercard study
The GCC is set for a surge in the use of fintech apps during the current global health crisis as new figures from Mastercard reveal a 70 percent increase in the use of contactless payments in the MEA region.
Consumers are increasingly turning away from physical offerings during the ongoing COVID-19 outbreak, with startups and financial institutions continuing to offer services through digital channels.
According to research by Mastercard, 70 percent of respondents in the Middle East and Africa are now using contactless payments, with 81 percent confirming they will continue to do so once the pandemic is over.
David Parker, co-chief investment officer for the financial services sector at Bahrain Economic Development Board, said the GCC is set to see a trend toward fintech platforms in the coming months.
“At a time when few customers can access physical services, fintech platforms across the GCC are experiencing a surge in use — something we anticipate continuing well into the summer months.”
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CLS Appoints Six New Board Directors
CLS, a financial market infrastructure group delivering settlement, processing and data solutions, today announces the appointment of six new members to its Board of Directors at the CLS Annual General Meeting held on 9 June 2026.
Mobey Forum Calls for a Collaborative Approach to Fraud Prevention in Rethinking Fraud in a Connected World
Mobey Forum’s Fraud Expert Group has published a new report, Rethinking Fraud in a Connected World: Trust, Collaboration, and Resilience in the Digital Ecosystem, exploring how fraud is evolving beyond traditional banking threats and why stronger collaboration across industries is becoming essential.
SumUp Launches in Canada
SumUp, the global financial technology company, today announced its official launch in Canada. The milestone makes Canada SumUp's 38th market and its latest step in building out its presence across the Americas, as the company continues its mission to make commerce simpler and more accessible for all businesses worldwide.
European Fintech Association Elects New Board of Directors
The European FinTech Association (EFA) today announced the election of its new Board of Directors, bringing together senior leaders from across Europe's fintech ecosystem to guide the Association's work over the coming term.
G+D: Navigating the Future of Fintech Agility and Innovation
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Connect IFA Strengthens Leadership Team to Drive Growth and Enhance Adviser Support
Connect IFA Ltd is pleased to announce key leadership appointments designed to strengthen its commitment to growth and enhance the support it provides to advisers and network members.
FreeAgent Launches New AI Tool for Landlords to Capture Rental Statements
FreeAgent, the innovative accounting technology company, has launched a new feature into its landlord software, enabling landlords and accountants to harness artificial intelligence to input and reconcile data from letting agent rental statements.