November 6, 2024 – Tencent has announced a strategic partnership with Visa to bring its palm recognition technology to international markets, with an initial rollout in Singapore. The service, called “Pay by Palm,” enables Visa cardholders from participating banks—including DBS, OCBC, and UOB—to make secure, contactless payments by scanning their palms. The pilot launch was unveiled at the Singapore Fintech Festival […]
Karachi, November 6, 2024 – The State Bank of Pakistan (SBP) has granted in-principle approvals to Toko Lab Private Limited and Accept Technologies Private Limited (operating as PayMob) to operate as an Electronic Money Institution (EMI) and Payment System Operator (PSO)/Payment Service Provider (PSP), respectively. These entities are now expected to establish their operational infrastructure […]
Karachi, Pakistan — InfraZamin Pakistan and Sunridge Foods Limited, a subsidiary of Unity Foods Limited, have announced a strategic partnership to launch a PKR 2 billion Agri-Infrastructure Sukuk. This Shariah-compliant financing instrument, backed by InfraZamin’s AAA-rated guarantee, will support Sunridge Foods’ efforts to enhance production capacity and adopt sustainable energy solutions. The proceeds from this […]
Y Combinator-backed investment platform Elphinstone has announced its acquisition of Trikl, a Pakistan-based WealthTech startup supported by Orbit Startups. The financial terms of the deal remain undisclosed, but the acquisition marks a significant milestone as the first major consolidation in Pakistan’s WealthTech sector. Haseeb Siddiqui, Co-founder and CEO of Trikl, expressed his gratitude, stating, “I’m […]
October 28, 2024 – The State Bank of Pakistan (SBP) has granted Hubpay (Private) Limited approval to initiate pilot operations as an Electronic Money Institution (EMI) in Pakistan. This milestone marks a key step in Hubpay Pakistan’s plans to provide secure and accessible digital financial services, tailored for individuals and businesses in the country. Hubpay […]
Doha, Qatar: Dibsy, a prominent payment solutions provider, has partnered with QNB, the largest financial institution in the Middle East and Africa, to unveil an enhanced version of Visa Click to Pay for retailers in Qatar. This pioneering collaboration marks the first global implementation of Click to Pay with biometric authentication, establishing a new benchmark […]
Islamabad, Pakistan — In a landmark development for Pakistan’s AI landscape, Jazz has joined hands with the National University of Sciences and Technology (NUST) and the National Information Technology Board to pioneer the country’s first local Large Language Model (LLM). The initiative, announced at an event organized by the Ministry of IT and Telecom, marks […]
KARACHI: ABHI, a leading embedded finance platform, has partnered with FlowHCM, Pakistan’s fastest-growing HRM/HCM software, to offer employees of mutual clients a comprehensive suite of financial services. This includes real-time access to earned wages, payroll financing, and additional financial tools to enhance employees’ financial well-being. At the core of this partnership is a shared commitment […]
In a strategic move to advance its artificial intelligence capabilities, OpenAI has partnered with Taiwan Semiconductor Manufacturing Company (TSMC) and Broadcom to develop an in-house AI chip, according to sources reported by Reuters. While initially considering the establishment of dedicated chip manufacturing facilities, OpenAI has reportedly set aside those plans, choosing instead to concentrate on designing a proprietary AI chip internally. This […]
Golootlo, Pakistan’s largest Savings Platform, has formed a strategic partnership with Alliance Network, a global market leader of payment solutions and technology. This collaboration aims to introduce SoftPOS technology into Golootlo’s Merchant App, revolutionizing the way merchants accept payments and manage their operations. The signing ceremony for this landmark agreement took place on October 14, […]