News
Step Conference Opens Its Doors On February 21, 2024
The event is now the largest tech festival in Dubai, attracting hundreds of global startups, investors, and over 8,000 attendees.
Dubai’s premier tech expo, Step Conference, is gearing up for its 12th event on February 21st and 22nd at Dubai Internet City, welcoming over 400 startups and 8,000 attendees. The annual conference has become known as a place to forge connections with like-minded individuals, as well as a platform for potential investment opportunities.
Step Conference hosts 4 stages of tech-related content, workshops, entertainment, and more. This year’s event will explore the latest trends and innovations across the startup, fintech, AI, and wellness sectors. Industry leaders, including Faraz Khalid, CEO of noon, Zuby, Amjad Masad of Replit, Dr. Jonathan Doerr of Antler MENAP, and GV Ravishankar of Peak XV Partners, will be on hand to share insights and lead discussion panels.
This year, Step Conference will also unveil several exciting new additions. The AI Track will immerse event goers in captivating discussions, embracing topics including Large Language Models (LLMs), Co-pilot systems, and advanced neural networks. Meanwhile, the Founder’s Circle will host exclusive discussions for startup founders seeking expert guidance. The new features promise to enrich the Step Conference experience, helping to promote innovation and reshape the tech landscape.
Also Read: Saudi Arabia Unveils World’s First Gaming And eSport District
If you’re a startup founder, industry expert, or simply interested in tech and innovation, Step Conference promises to be a standout event for early 2024.
To unlock early bird pricing and buy tickets, head over to the official website. If you’re a startup and interested in attending, you can submit an application here.
News
Saudi Digital Payments Reach 80% As Cash Use Shrinks
Visa data shows cards and mobile wallets dominate spending, with smartphones now driving a growing share of daily transactions.
Digital payments now account for 80% of all transactions in Saudi Arabia, according to Visa’s latest Where Cash Hides report, another marker of how quickly the Kingdom is moving away from cash.
The share is up four percentage points from a year ago. Around 67% of consumers are now largely non-cash users, paying mainly with cards or mobile wallets. Smartphones are taking a bigger role, with mobile payments making up 16% of transactions.
Cash is retreating in routine spending. Eating out dropped 9%. Bill payments fell 8%, as shoppers opt for faster checkouts and app-based payments.
“The data shows a steady move toward digital payments in Saudi Arabia. Such progress is possible only because banks, fintechs, merchants, and technology partners are moving together in the same direction, in line with the Kingdom’s Vision 2030,” said Ali Bailoun, Visa’s Senior Vice President and Group Country Manager for Saudi Arabia, Bahrain, and Oman.
Also Read: UAE Users Sleep Less, But More Efficiently, ŌURA Data Reveals
Despite the recent findings, it’s important to note that cash hasn’t yet disappeared. It still shows up for tips (39%), peer-to-peer transfers (28%) and rent (14%).
Visa points to security features such as tokenization, along with rewards and cashback, as factors nudging more spending onto cards and phones — a shift that tracks with Saudi Arabia’s wider Vision 2030 push to digitize commerce.
Saudi Digital Payments Reach 80% As Cash Use Shrinks
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