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Paymob Announces New UAE Regional Hub

As the MENAP’s leading payment facilitator embarks on its next phase of expansion, it will open a new hub to serve the region’s growing number of micro businesses.

Published

2 years ago

November 2, 2022

Nour Nasir

Paymob has just announced that it will expand into the United Arab Emirates and open a regional hub in the country after a successful round of Series B funding overseen by PayPal.

The UAE expansion will be focused on “empowering (SMEs) and microbusinesses across the seven Emirates, with best-in-class digital payments solutions that drive growth in the digital economy”, Paymob said in a recent press release.

Paymob has already appointed veteran Emirati financial services guru Omar Haddad as its General Manager for the UAE expansion. He’ll be responsible for building a 150-strong team of payment professionals in this new market.

“The UAE is a dynamic ecosystem that fosters entrepreneurship and innovation, largely enabled by tremendous support from the public sector. There are currently over 400,000 businesses in the UAE, 61% of which are microbusinesses and 38% are SMEs. We see a massive opportunity to serve this market segment. Our goal over the next three years is to empower 15% of those merchants with the latest payment technologies to fuel their growth and further digitize the economy,” says Islam Shawky, Paymob CEO and Co-founder.

Also Read: 10 Best VPN Services For The Middle East In 2023 (Free & Paid)

As a market leader in the digital payment sector in the MENAP region, Paymob currently caters to over 16.5 million registered users on its mobile wallet infrastructure. The company offers one of the most comprehensive payment platforms for MENAP businesses, and includes over 40 online and physical payment methods via its point-of-sale systems, online gateway, and app.

Paymob currently holds an 87% share of all of the mobile wallet processing volumes in Egypt, and in 2021, it partnered with Mastercard to offer the country’s first “Tap-on-Phone” contactless solution. The payments giant hopes to roll out the same tech to UAE businesses and their customers in 2023 and aims to help companies of all sizes deliver a frictionless and seamless digital payment experience.

Related Topics:FinTech Paymob United Arab Emirates

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Samsung Smart Glasses Teased For January, Software Reveal Imminent

According to Korean sources, the new wearable will launch alongside the Galaxy S25, with the accompanying software platform unveiled this December.

Published

2 days ago

December 4, 2024

Nour Nasir

samsung smart glasses teased for january software reveal imminent

Samsung appears poised to introduce its highly anticipated smart glasses in January 2025, alongside the launch of the Galaxy S25. According to sources in Korea, the company will first reveal the accompanying software platform later this month.

As per a report from Yonhap News, Samsung’s unveiling strategy for the smart glasses echoes its approach with the Galaxy Ring earlier this year. The January showcase won’t constitute a full product launch but will likely feature teaser visuals at the Galaxy S25 event. A more detailed rollout could follow in subsequent months.

Just in: Samsung is set to unveil a prototype of its augmented reality (AR) glasses, currently in development, during the Galaxy S25 Unpacked event early next year, likely in the form of videos or images.

Additionally, prior to revealing the prototype, Samsung plans to introduce…

— Jukanlosreve (@Jukanlosreve) December 3, 2024

The Galaxy Ring, for example, debuted in January via a short presentation during Samsung’s Unpacked event. The full product unveiling came later at MWC in February, and the final release followed in July. Samsung seems to be adopting a similar phased approach with its smart glasses, which are expected to hit the market in the third quarter of 2025.

A Collaborative Software Effort

Samsung’s partnership with Google has played a key role in developing the smart glasses’ software. This collaboration was first announced in February 2023, with the device set to run on an Android-based platform. In July, the companies reiterated their plans to deliver an extended reality (XR) platform by the end of the year. The software specifics for the XR device are expected to be unveiled before the end of December.

Reports suggest that the smart glasses will resemble Ray-Ban Meta smart glasses in functionality. They won’t include a display but will weigh approximately 50 grams, emphasizing a lightweight, user-friendly design.

Feature Set And Compatibility

The glasses are rumored to integrate Google’s Gemini technology, alongside features like gesture recognition and potential payment capabilities. Samsung aims to create a seamless user experience by integrating the glasses with its broader Galaxy ecosystem, starting with the Galaxy S25, slated for release on January 22.