Visa says fintech is crucial for the growth of digital economy in the GCC & MENA region
Dubai, UAE, 9th April 2023, ZEXPRWIRE, The Dubai FinTech Summit welcomes Visa as a co-host sponsor for the two-day event taking place on 8 and 9 May this year. Visa is a global leader in digital payments that is connecting the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive.
“FinTechs are propelling innovation in the payments industry which is helping expand access to quality, affordable financial services, and innovative payment solutions. At Visa, we are empowering FinTechs to help grow the digital economy for the benefit of consumers and businesses in the region. Our partnership with DIFC’s Dubai FinTech Summit provides us and our industry partners the platform to explore how we can continue to collectively bring innovations in digital commerce that uplift everyone, everywhere.” said Dr. Saeeda Jaffar, Visa’s Senior Vice President and Group Country Manager for GCC region.
According to Visa, 4 in 5 consumers surveyed in the UAE would switch merchants based on the payment methods offered, with most preferring digital payments over cash.
Dr. Jaffar added, “The unprecedented digitisation during the pandemic has changed consumer expectations. This shift is prompting businesses to respond quickly, and FinTechs are helping develop the solutions businesses need to be competitive in our digital-first world. At Visa, we remain committed to growing digital commerce by providing FinTechs with access to our experts and technology through initiatives such as the Fast Track program so they can more easily create solutions for businesses to offer their customers faster, more secure ways to pay and to manage their expenses and get working capital. We are also working with FinTech leaders to embed finance across key categories such as digital wallets and ‘Buy Now, Pay Later’, which are both increasingly popular with consumers.”
Currently home to 60 per cent of all FinTech companies based in the GCC, Dubai and DIFC is being recognised as a global centre for innovation, with its unique ecosystem and comprehensive approach to business, driving not only the future of finance but increasingly the future economy.
Mohammad Alblooshi, Head of DIFC Innovation Hub and FinTech Hive said: “Organised by DIFC, the leading international financial hub in the (MEASA) region, the Summit will bring together 5,000 global FinTech and technology experts and will provide the perfect environment for connecting start-ups, investors and industry leaders tapping into this opportunity as they advance in the region and beyond.”
The Dubai FinTech Summit will take place at Madinat Jumeirah in Dubai. Visitors can now purchase tickets for the Dubai FinTech Summit, with early bird prices available till 15 April 2023.
About Dubai International Financial Centre
Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and an estimated GDP of USD 8 trillion.
With a close to 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe and the Americas through Dubai.
DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of over 36,000 professionals working across over 4,300 active registered companies – making up the largest and most diverse pool of industry talent in the region.
The Centre’s vision is to drive the future of finance through cutting-edge technology, innovation, and partnerships. Today, it is the global future of finance and innovation hub offering one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups.
Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels and public spaces, DIFC continues to be one of Dubai’s most sought-after business and lifestyle destinations.
For further information, please visit our website: difc.ae, or follow us on LinkedIn and Twitter @DIFC.
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement.
Learn more at About Visa, visamiddleeast.com/blog and @Visamiddleeast.
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Funds Special journalist was involved in the writing and production of this article.