News

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

1 year 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 Galaxy Ring Wearable Will Launch In Eight Sizes

A recent Korean report reveals the model numbers of the new health tracking device, as well as details of its key features.

Published

3 days ago

April 25, 2024

Nour Nasir

samsung galaxy ring wearable will launch in eight sizes

The global launch of the Samsung Galaxy Ring is hotly anticipated, with details about the next-gen wearable gradually emerging since the company’s teaser announcement back in January. Now, a report has also unveiled the model numbers for the device, suggesting it will be available in eight different sizes.

While Samsung has yet to divulge detailed specs and features of the Galaxy Ring, it’s likely to feature an array of health and sleep monitoring functionalities, while boasting a battery life of up to nine days on a single charge.

As per a Galaxy Club report, there are currently eight confirmed variants of the Galaxy Ring: SM-Q500, SM-Q501, SM-Q502, SM-Q505, SM-Q506, SM-Q507, SM-Q508, and SM-Q509.

However, the mystery shrouding two absent model numbers persists, leaving speculation as to whether they signify additional sizes or if Samsung plans to unveil a later ninth variant of the ring, as previously hinted. There’s conjecture that these models may correspond to US ring sizes 5 and above, commencing with the SMQ500, with subsequent numbers potentially indicating larger ring sizes, possibly reaching up to size 13, aligning with model number SM-Q509.

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Recent Korean reports have shed light on how Samsung’s Mobile eXperience division (MX) collaborated with the Home Appliance department to integrate Samsung Food with the Galaxy Ring: Tailored for daily activity tracking, the Galaxy Ring, when paired with Samsung Food and an intelligent Samsung refrigerator featuring AI vision, delivers personalized dietary guidance based on calorie intake and BMI.

Samsung is banking on the user-friendly interface and high durability of the ring to redefine the healthcare wearables landscape. Meanwhile, Apple is also making strides in the development of a smart ring, aimed at monitoring users’ health biometrics discreetly when worn on the finger. According to the Electronic Times report, Apple has been closely monitoring market interest in this more inconspicuous alternative to a traditional watch.