Recent innovations in advanced information and communication technologies have enabled the digital transformation of financial services. As one of the fastest growing mobile network markets in the world, the Middle East represents an attractive opportunity for mobile-backed financial services solutions. The Gulf Cooperation Council (GCC) region has an adult population of more than 40 million, 65% of whom operate an account at a financial institution in 2016. This makes the region a massive opportunity for mobile payment services. Technology providers and financial institutions are leveraging rising connectivity and the converged mobile experience to deliver improved efficiency, transparency and security through mobile wallets.

Author: Lehlohonolo Mokenela