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Qatar’s Capital Aims To Become A Regional Technology Hub
With next year’s Web Summit, Doha hopes to energize its budding startup ecosystem.
On May 4-7, 2024, Qatar will become the first Middle Eastern country to host one of the world’s largest technology conferences. Web Summit, founded in 2009, is among the most popular expos on emerging digital technology and venture capitalism and is expected to draw 7,500 participants, as well as legions of journalists and investors.
Hosting the Web Summit event is highly significant for Qatar, as digital transformation and technology are at the center of the country’s national and global ambitions, with the sector contributing over $3 billion annually to GDP. Officials and investors alike hope that the conference will help to cement Qatar’s position as an important Middle Eastern startup and tech hub.
“Qatar has proved during the World Cup that it can host world-class events. The world now sees Qatar as a sports and tech powerhouse that is not only interested in investing in technology externally but also to accelerate digitization locally,” says Jamal Bdeir, Small and Medium Business Lead, Middle East Cluster, at Microsoft.
The summit should open up an array of opportunities for local startups. At the same time, the Qatar Science & Technology Park will allow international tech firms to learn more about the country’s wide-ranging entrepreneurship ecosystem that supports new businesses using a mixture of tax reductions and modern legislation.
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Besides attracting big tech firms, the upcoming Web Summit has created a considerable buzz in Qatar’s local startup space. Many Doha-based startups that haven’t had the opportunity to showcase their solutions on the global stage will now gain a worldwide platform without having to worry about physical travel.
Ramzan Al Naimi, the founder of local startup hub the Innovation Café, is an enthusiastic supporter of the event, noting: “The conference provides Arab youth and local talent the opportunity to connect with global companies and experts in the technology field, learn from them, and access job and training opportunities”.
The widespread optimism surrounding the event seems to be well-founded. Lisbon has greatly benefited from being a host city and local technology hub, drawing several investors and upcoming startups to Portugal due to the buzz created by the Summit conference.
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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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