News

Digital Banking App Pyypl Is Now A Visa Principal Member

The fast-growing fintech is now officially able to issue prepaid Visa cards from its UAE base, paving the way for further international expansion.

Published

7 months ago

June 24, 2024

Nour Nasir

Pyypl

UAE-based personal finance app Pyypl (pronounced “people”) has announced a Principal License Membership and Strategic Framework Agreement with international card issuer Visa. The license enables the fintech company to directly issue prepaid Visa cards, paving the way for further expansion across the Middle East and Africa (MEA).

Pyypl is already one of the fastest-growing MEA fintechs and is on a mission to become the region’s leading “one-stop fintech ecosystem”. Powered by 100% in-house-built technology, the company’s app offers banking and payment services to hundreds of thousands of financially underserved users across Africa and the Middle East.

Pyypl’s Strategic Framework Agreement with Visa is significant, as it recognizes the license approval process in other markets that the fintech company plans to enter. With support from local regulators, Pyypl can now offer internationally accepted virtual and physical prepaid cards, as well as instant user-to-user transfers and remittances to 80 countries.

Also Read: A Guide To Digital Payment Methods In The Middle East

Antti Arponen, CEO and co-founder of Pyypl commented: “We are excited to announce our partnership with Visa. Our payments ecosystem has multiple benefits for Visa and will accelerate the provision of financial services to the vast population of underserved digital natives in the region. Working closely with Visa and local regulators in new markets, we are focused on growing Pyypl’s presence and contributing to advancing financial inclusion across the region”.

“We are delighted to welcome Pyypl to our mission of advancing financial inclusion,” says Hasan Kazmi, VP, head of strategic partnerships and ventures – CEMEA, Visa. “We believe in empowering underbanked consumers by providing them with innovative, secure payment solutions. This not only gives them access to the digital economy but also helps them thrive in this increasingly digital age”.

News

“AI Seal” Certification Now Required For Dubai Gov Partnerships

The new mandatory certification is designed to build trust in AI companies and create a reliable network of providers for government and public collaboration.

Published

11 hours ago

January 21, 2025

Nour Nasir

ai seal certification now required for dubai gov partnerships

Dubai Media Office

Dubai has introduced the Dubai AI Seal, a certification designed to establish trust in artificial intelligence (AI) companies and solutions. This initiative, directed by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister, aims to create a reliable network of AI providers which government entities and businesses can collaborate confidently.

Companies must now obtain the AI Seal to qualify for UAE or Dubai government contracts. The Dubai Centre for Artificial Intelligence (DCAI), which developed the certification, sees it as a competitive edge for companies looking to participate in key national projects. Once certified, businesses will be permitted to showcase the seal across their websites and marketing materials, signaling their credibility and dependability.

The evaluation process will consider six main criteria: the company’s services and operations, the number of employees specializing in AI, ongoing and future projects, as well as existing partnerships with public and private sector entities.

dubai ai seal certification

Khalfan Belhoul, CEO of the Dubai Future Foundation, which oversees the DCAI, commented on the initiative’s potential: “This initiative will help create powerful partnerships between the public and private sectors, locally, regionally, and globally. It will help drive new economic opportunities by leveraging AI to serve better the economy, society, and the future we aspire to”.

Also Read: Top Free AI Chatbots Available In The Middle East

The Dubai AI Seal’s goals include providing a clear framework for verifying AI providers, fostering business opportunities for AI companies, and acknowledging the industry’s strategic importance to Dubai’s economy. The initiative emphasizes AI’s role in driving economic growth, creating jobs, and strengthening collaboration between government bodies and technology firms.

All technology companies operating in Dubai and offering AI-related services or products are eligible to apply for the certification at no cost through the official website.