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Dubai To Further Virtual Strategies In Metaverse Assembly
The assembly is due to take place in Dubai’s Museum of the Future, where it will connect people with the latest Web3 technology.
Organized by the Dubai Future Foundation (DFF), The Dubai Metaverse Assembly is due to take place on the 28th and 29th of September 2022, launched by Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum.
The assembly will host Facebook parent company Meta and representatives from the World Economic Forum, Mastercard, Emirates, and Accenture. 300 world experts and 40 specialist organizations will also be in attendance at an event that will take place in the Museum of the Future, next to the famous Emirates Towers.
“This global assembly will facilitate synergies amongst the most pioneering and innovative private and government entities, building exciting use cases in web 3.0 and the Metaverse. [the assembly will] bring together policymakers, academia, startups, and corporations to explore these technologies and their impact in the Metaverse,” says Dubai Metaverse Assembly’s director, Hamad Al Shirawi.
The overarching theme is centered around connecting real and virtual worlds, and workshops will advise participants on how to benefit from, and gain capital in the Metaverse to achieve an improved quality of life in both spheres of existence.
The Dubai Metaverse Strategy was announced two months ago by Dubai’s Crown Prince to boost the Emirates virtual footprint and prepare the UAE government for the emergence of the Metaverse by providing an outlet and forum for discussion and collaboration.
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The event is set to host plenty of experienced speakers who will guide the audience through this emerging new technology, introducing them to a market tipped to be worth $30 trillion within the next decade and a half.
“The Metaverse is a promising digital world. We aim to harness this technology to enhance the quality of life in the UAE and across the globe […] We want Dubai to lead globally in adopting the technology of the future, understanding its developments, harnessing its potential, and driving change,” says His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai.
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Checkout.com Set To Launch Card Issuing In The UAE
The payment service provider’s expansion is a first-of-its-kind investment and could reshape digital transactions across the region.
Checkout.com is laying the groundwork to become the first global payments platform to introduce card issuing in the United Arab Emirates — a move that could reshape how businesses in the region manage financial transactions.
The company plans to roll out its domestic card issuance offering in the UAE by 2026, subject to regulatory approval. The launch would give businesses the tools to issue both physical and virtual branded cards. This, in turn, opens up new ways to reward customers, streamline expense processes, and handle B2B payouts efficiently.
Checkout.com’s CEO and Founder, Guillaume Pousaz, revealed the plans during Thrive Abu Dhabi, the firm’s debut conference in the Emirates. Joined on stage by Remo Giovanni Abbondandolo, General Manager for MENA, Pousaz presented to an audience of over 150 partners and merchants at Saadiyat Island. Also in attendance was H.E. Omar Sultan Al Olama, the UAE’s Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications.
Abbondandolo highlighted the strategic importance of the announcement: “As a global business, we focus on bringing products to markets that our customers want and need. Today’s announcement is proof of our commitment to the MENA region and its rising influence in the digital economy. The appetite for innovation here is real, and we’re proud to be building the infrastructure that powers it”.
One early adopter of Checkout.com’s UAE acquiring services is Headout, a travel experiences marketplace, which recently named the payment provider as its main partner in Europe. The company has already begun card issuing there and is keen to expand that offering into MENA once approval is granted.
The expansion of services in the UAE and beyond builds on Checkout.com’s track record in the region. It was the first global payments firm to secure a Retail Payment Services license from the UAE’s Central Bank and was instrumental in rolling out Mada and Apple Pay in both the UAE and Saudi Arabia.
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The firm has also been rolling out new products: One of the latest is Flow Remember Me, currently in beta testing. It allows shoppers to store their card information once and access it across Checkout.com’s entire network, potentially cutting checkout times by up to 70%.
Earlier this year, Checkout.com also introduced Visa Direct’s Push-to-Card solution in the UAE, enabling both domestic and international payouts. Its collaboration with Mastercard has grown as well, making it easier for businesses to send funds directly to third-party cards securely and quickly.
With regional tech ambitions on the rise — spurred by initiatives like Saudi Arabia’s Vision 2030 and the UAE’s 2031 Agenda — Checkout.com sees its role as one of a key enabler. “Our mission is to help ambitious businesses navigate the complexity of payments, so they can move faster, go further, and make the most of every opportunity,” said Abbondandolo. “In MENA, performance is personal. It’s local. It’s built on trust. And when payments perform, businesses thrive”.
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