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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.

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digital banking app pyypl is now a visa principle member
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”.

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Initial Trials Of Dubai’s Driverless Evocargo Trucks Completed

Testing was announced on July 17, and the completion is a major milestone towards upgrading the region’s logistics infrastructure.

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initial trials of dubai's driverless evocargo trucks completed
Dubai Media Office

A Dubai-based company has completed the initial trials for the UAE’s first driverless trucks. The groundbreaking achievement by Evocargo, partnering with Dubai South, took place at Dubai South Logistics District, and marked a significant step towards incorporating autonomous technologies into the region’s wider logistics infrastructure.

Announced on Wednesday, July 17th, the trials featured the Evocargo N1 unmanned electric truck navigating a predetermined route within a controlled setting. The test involved interactions with common road obstacles such as cars, trucks, and pedestrians, aiming to evaluate the vehicle’s hardware and software reliability, accident prevention systems, and overall readiness for public road use.

Officials were keen to highlight that this accomplishment aligns with the UAE’s ambitious strategy to position itself as a global leader in innovation and technology adoption. The country aims to have 25% of all transportation in Dubai autonomous by 2030, underscoring its commitment to revolutionizing the logistics sector using advanced technologies.

Mohsen Ahmad, CEO of the Logistics District at Dubai South, emphasized the importance of the collaboration with Evocargo in enhancing the region’s logistics capabilities. He noted that autonomous vehicles are set to increase efficiency, reduce carbon emissions, and establish a sustainable logistics infrastructure that will benefit both Dubai and the wider UAE.

Also Read: Riyadh Developers Reveal New 45,000-Seat Murabba Stadium

Ahmed Al-Ansi, CEO of Evocargo Autonomous Logistic Services, also expressed optimism that the trials will draw new customers and investments across the Gulf Cooperation Council (GCC) countries. The partnership aims to lead in innovative tech solutions, further establishing the UAE as a pioneer in autonomous transportation.

The successful completion of the trials marks a crucial step towards realizing the UAE’s vision for a technologically advanced and sustainable future in which autonomous vehicles are expected to play a pivotal role in global logistics.

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