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Stripe Enters The Middle East With Its UAE Launch
Stripe will initially only be available to UAE businesses, allowing them to accept online payments, make payouts, mitigate fraud, and attract customers from around the world.
Stripe, a provider of online payment processing for internet business, has finally expanded to the Middle East with its official launch in the United Arab Emirates. The Irish-American company also opened an office in Dubai Internet City, allowing it to be closer to its new customer base.
At first, Stripe will only be available to UAE businesses, allowing them to accept online payments, make payouts, mitigate fraud, and attract customers from around the world.
“The UAE is a thriving hub for technology, supported by strong investor appetite, internet-savvy consumers, and an open, innovative ecosystem of business leaders and entrepreneurs,” said Matt Henderson, EMEA Business Lead at Stripe. “Our launch today also means we can now connect our global user base to the Gulf, enabling them to seamlessly expand their operations in the region.”
Stripe Newsroom
Stripe’s entry into the Middle East market comes just weeks after its latest round of funding, which has resulted in the company’s value jumping up to $95 billion and making it one of the most valuable fintech companies in the world.
The UAE is the perfect entry point for the online payment processing provider because the total value of digital payment transactions in the gulf country has doubled in the last two years alone, reaching $18.5 billion in 2020. If the UAE remains on the current growth trajectory, its e-commerce sector is expected to add nearly another $10 billion over the next two years.
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Another factor that makes the UAE such an ideal expansion point is the fact that accepting online payments in the country has historically been incredibly challenging. Stripe provides a straightforward setup process and developer-friendly APIs, making it easy for companies of all sizes to improve their online presence.
Last year, Stripe launched in the Czech Republic, Hungary, Romania, Bulgaria, Cyprus, and Malta. The company also expanded into Africa via Nigeria technology startup Paystack. In total, Stripe currently processes hundreds of billions of dollars each year.
News
HUMAIN & NVIDIA Partner To Build Saudi AI Factories Of The Future
In a push to position the Kingdom as a global AI hub, the partnership will co-develop next-gen AI infrastructure, digital twins, and workforce training.
HUMAIN, the AI-focused subsidiary of Saudi Arabia’s Public Investment Fund, has announced a strategic partnership with NVIDIA to build the infrastructure powering Saudi Arabia’s next industrial revolution: AI factories capable of driving massive-scale innovation and digital transformation.
The partnership reflects HUMAIN’s plans to turn the Kingdom into a global AI powerhouse by building new infrastructure, real-world applications, and investing in talent. Through the alliance, HUMAIN and NVIDIA will construct hyperscale AI data centers, digital twins, and launch national upskilling programs.
At the heart of the partnership is HUMAIN’s plan to deploy AI factories with a capacity of up to 500 megawatts, fueled by hundreds of thousands of NVIDIA GPUs over the next five years. Phase one includes the installation of 18,000 NVIDIA GB300 Grace Blackwell superchips and InfiniBand networking, creating one of the world’s most powerful AI supercomputing environments.
These centers will provide the scale and security needed to support innovation across Saudi Arabia’s industries — from energy and logistics to healthcare and finance.
“AI, like electricity and the internet, is essential infrastructure for every nation,” said Jensen Huang, founder and CEO of NVIDIA. “Together with HUMAIN, we are building AI infrastructure for the people and companies of Saudi Arabia to realize the bold vision of the Kingdom”.
HUMAIN will also leverage NVIDIA Omniverse to drive the next phase of industrial transformation — physical AI. By simulating and optimizing complex environments in digital twin form, sectors like manufacturing, utilities, and logistics can operate more efficiently, safely, and sustainably.
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“Our partnership with NVIDIA is a bold step forward in realizing the Kingdom’s ambitions to lead in AI and advanced digital infrastructure,” said Tareq Amin, CEO of HUMAIN. “Together, we are building the capacity, capability, and a new globally enabled community to shape a future powered by intelligent technology and empowered people”.
In tandem with infrastructure development, HUMAIN and NVIDIA will also launch large-scale AI education and training initiatives, designed to upskill thousands of Saudi professionals in advanced AI, robotics, and digital twin technologies.
These efforts will contribute to building a self-sustaining AI ecosystem and support Saudi Arabia’s Vision 2030 ambitions for economic diversification and digital leadership.
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