Mashreq and i2c partner to help FinTechs in the UAE

Mashrek and 2c Already partnered in the United Arab Emirates (UAE) to provide digital payment solutions.

The two companies on Tuesday (March 7) Press release.

“The UAE sees significant growth and opportunities in the fintech space, making the country a key fintech hub,” said Head of Payments, Mashreq Kartik Taneha said in the release. “Our partnership with i2c will allow us to support the fintech ecosystem with speed and agility as we continue to focus on driving growth and innovation in the region.”

The UAE has been strengthening its role as Regional FinTech Hub.

As PYMNTS reported in July 2022, the UAE is home to two thriving international financial centers — Abu Dhabi and Dubai — and is the third-largest economy in the Arab League.

As is the case elsewhere, digital transformation in the UAE and the wider Middle East and North Africa (MENA) region is not just a game for start-ups. Traditional banks and payment networks also have a role to play.

On the consumer front, PYMNTS research finds UAE tops list Global Digital Shopping Index 2023which was produced in collaboration with Internet resources and measure the deployment of 34 digital capabilities Merchants can offer consumers.

For the second year in a row, the UAE scored the highest among countries in the report, surpassing the US, UK, Brazil, Mexico and India in terms of consumers experiencing the least amount of friction when shopping and paying for groceries and payments. retail products.

According to the press release, through the new partnership, Mashreq and i2c aim to empower fintech companies in the UAE, allowing them to add new functionalities in a plug-and-play manner.

“We are delighted to partner with Mashreq to enable digital payment innovation in the UAE,” said i2c General Manager at CEMEA Amir Yazdampana said in the release. “Our scalable and agile platform, combined with their expertise, will deliver cutting-edge payment solutions to consumers and businesses in the region.”