Propelled by a network of renowned industry partners, including DIFC Innovation Hub, Visa, Microsoft and Dell Technologies, the NDTI program provides Emirati Fintech founders with unparalleled opportunities to grow and thrive within the industry. The third cohort of the NDTI program received exclusive access to top industry leaders, decision-makers and high-profile engagements from mentoring sessions to exclusive events.

For the first time, the NDTI program gave its founders the opportunity to gain insights from His Excellency Essa Kazim, Governor of the Dubai International Financial Centre (DIFC). This was a powerful reminder of the program’s deep-rooted connection to the UAE’s economic vision and its commitment to nurturing homegrown Fintech talent.

One of the standout features of the program, Discovery Day, allowed startups to shape the trajectory of their journey. By collaborating with key industry partners, Emirati founders had the chance to fine-tune the program to meet their specific needs, ensuring that every session and initiative was strategically aligned with their goals. Further, aligning with the UAE’s vision on sustainability for 2030, startups received an exceptional platform at the DIFC Future Sustainability Forum, to explore the intersection of sustainability and innovation.

Throughout the program, participating startups were mentored by the brightest minds in banking, technology, and innovation. They built meaningful relationships with industry leaders, received candid advice, and gained hands-on experience from some of the sector’s most successful figures.

One standout participant, Maryam Al Ansari, received the opportunity to participate in the Dell Technologies Forum—AI Edition 2025, showcase her innovations during a fireside chat, and engage in meaningful conversations with top AI experts. Exposure to such a high-level audience created new prospects for collaboration, partnerships, and growth within the rapidly evolving AI space.

The third cohort endured a transformative experience during their international trip. Receiving real-world networking opportunities with Emirates NBD’s Egypt team, venture capitalists, and prominent startups, the trip allowed participants to tap into a vibrant ecosystem, learn from Egypt’s growing Fintech landscape and build connections. This exposure gave them a broader understanding of regional markets and potential expansion opportunities, giving them the confidence to scale their businesses internationally.

The program’s finale was a defining moment for all participants, where startups presented their progress, achievements and business plans to a distinguished panel of Emirates NBD and partner board members. Engaging with top decision-makers in the region, the feedback and guidance they received during this session were pivotal, not just for business development, but for long-term strategic direction.

Eman Abdulrazzaq, Group Chief Operating Officer at Emirates NBD, said: “At Emirates NBD, we are pleased to conclude our third cohort of NDTI. This program is a transformative experience for high-potential startups, providing them with a critical avenue for potential funding discussions and partnerships. Given Fintech is one of the UAE’s prime sectors of investment, we are confident that the solutions discovered today will foster UAE economic growth and contribute to our national strategic objectives.”

Mohammad Alblooshi, CEO of DIFC Innovation Hub, said: “We recognise that empowering the next generation of Fintech leaders is pivotal to sustaining the UAE’s status as the region’s leading global financial hub. Our partnership with Emirates NBD’s NDTI program underscores our dedication to cultivating homegrown talent and driving innovation, aligning seamlessly with the UAE’s ambitious vision to foster a competitive, diversified, and digitally advanced economy.”

The program has already had two successful editions of creating transformative opportunities for the UAE’s next generation of Fintech innovators. This initiative not only empowers the next generation of digital talent but also demonstrates DIFC’s commitment to fostering innovation and excellence in the financial sector. View the complete NDTI report here.

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Salima Gutieva, Vice President and Country Manager for UAE, Visa, stated, “We are thrilled to celebrate International Women’s Day by highlighting the significant strides women entrepreneurs have made in embracing AI and digital technologies. Our collaboration with Meta for the Marketplace for Good event exemplifies our commitment to supporting women-owned businesses and fostering a community of innovation and empowerment. We believe that by providing these platforms and resources, we can help women entrepreneurs continue to thrive and make a positive impact on their communities.”

Moon Baz, Director of Global Partnerships, Middle East, Africa and Turkey, Meta, said, “We are excited to partner with Visa for the Marketplace for Good event, which aligns perfectly with our mission to support small businesses and creators. This event not only provides a platform for women entrepreneurs to showcase their products but also reinforces our collective commitment to giving back to the community during the holy month of Ramadan. Together, we aim to create opportunities for women-owned businesses to grow and succeed in the digital economy.”

Key findings from the Women SMB Digitalization Index:

Raising Capital. Access to funding remains a critical challenge for women entrepreneurs as they navigate financial constraints and investment priorities.

• Over half (57%) of women-owned businesses in the UAE rely on personal finances, while (43%) turn to family and friends to set up their businesses.
• Similar to the previous year’s results, most surveyed women entrepreneurs in the UAE continue to rely on personal savings (41%) or reinvesting profits (37%) to fund their business.
• Nearly 4 in 10 women plan to allocate additional funds toward developing new products or services and expanding into new markets.

Technology Adoption. Women entrepreneurs in the UAE are actively embracing digital advancements to enhance their businesses’ efficiency, security, and customer experience.

• Over 7 in 10 women recognize the impact of AI in business and apply it to HR function (71%), sales and marketing (68%), and data analysis and decision-making (68%).
• More than half of survey respondents reported a better payment experience with AI, citing increased accuracy in transactions and reconciliations (57%) and faster approvals and authorizations (50%) in daily operations.
• Women-owned businesses in the UAE actively use business social media accounts (67%) and their company websites (43%) to sell products and services online.
• Women entrepreneurs in the UAE prioritize employee awareness and training (59%) as well as advanced security measure (51%) to safeguard their digital transactions.

Growth Priorities. Growth and skill development remain key priorities for women entrepreneurs in the UAE, with many looking to expand into new markets.

• More than half of respondents (51%) in the UAE aim to expand into new markets or industries to grow their businesses.
• Nearly half of surveyed women-owned businesses (46%) seek to broaden their range of products.
• Many women entrepreneurs are interested in learning more about payment security and eCommerce setup (38%), financial and budget management (30%), and business fundraising (28%).

As women entrepreneurs focus on digital growth and business expansion, Visa remains committed to supporting them with tools, resources, and platforms they need to thrive in the digital economy.

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In the UAE alone, SMEs account for over 63.5% of the country’s non-oil GDP, making them a central element of the nation’s economic strategy. The UAE has been ranked first globally for fostering entrepreneurship in the Global Entrepreneurship Monitor (GEM) report for 2023-2024, highlighting the country’s focus on creating an environment where small businesses can succeed.

“This partnership represents a critical milestone in SC Ventures’ mission to strengthen the SME ecosystem in MENA region. Through this partnership, we are committed to equipping SMEs with the tools and resources to thrive, expand, and drive sustainable growth in the increasingly digital and interconnected global economy,” said Gautam Jain, Operating Member SC Ventures said.

The MoU sets the foundation for a proof of concept that will focus on developing a joint offering to promote SME growth. The partnership will include regular workshops and meetings to share knowledge, exchange best practices, and ensure the relevance of the solutions being developed.

“Visa is focused on supporting economic growth in the region. This collaboration with SC Ventures will help provide SMEs with the tools and knowledge they need to accelerate their digital transformation as well as to expand their business, improve efficiency, and explore new growth avenues,” said Salima Gutieva, Visa’s Vice President and Country Manager for UAE.

As the SME sector in the MENA region continues to grow, such collaboration are essential in providing SMEs with the necessary resources and support to navigate a rapidly changing business environment. It is estimated that UAE’s SME sector alone will reach 1 million by 2030.

The partnership between SC Ventures and Visa represents a significant step in the development of the SME ecosystem in MENA. By combining Visa’s global payment technology with SC Ventures’ expertise in fintech, this collaboration aims to provide SMEs with the solutions needed to support their long-term growth.

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The travel solution will allow travel companies to obtain Qashio cards and transact in different currencies, including AED, SAR, USD, EUR and GBP issued from UAE, enabling payments & settlements in multiple currencies.

Qashio and Visa’s specialised solution will enable travel companies to digitize and automate their payments within the travel sector, optimizing their reconciliation and enhancing liquidity. The solution is seamlessly integrated with global travel management companies and their booking tools including Global Distribution Systems (GDS), making travel booking and payments seamless and secure.

Since launching in the UAE in 2022, Qashio has quickly established itself as one of MENA’s top providers of business finance solutions, meeting the evolving financial needs of today’s businesses with a commitment to innovation. Utilising the Visa Commercial Choice Travel program, Qashio Corporate Travel offering aims to streamline operational complexities, reduce expenses, and support companies of all sizes to manage their travel payments.

Leveraging Visa’s secure payment infrastructure, this partnership ensures high standards of protection for all B2B travel-related transactions.

Beyond payment security and control, Qashio’s Visa Commercial Choice Travel solution will provide real-time data insights and analytics to make cashflow tracking and budgeting more precise. With an unlimited pool of customizable Qashio cards companies will gain full control and visibility over payments. Qashio’s direct-to-ERP integrations will enable travel companies to reconcile their booking transactions efficiently, reducing costs and maximising revenue.

“We are committed to continue our joint growth with Visa, a global leader in payments innovation, to management,” said Armin Moradi, CEO and Co-Founder of Qashio. “We recognise that the Travel & Tourism industry is key in the region however the travel companies are underserved with strong technical payment solutions that work in their favour, we are creating a one-stop platform that simplifies the corporate travel experience for our clients, allowing them to focus on what truly matters – growing their businesses.”

Salima Gutieva, Visa’s VP and Country Manager for UAE, “Travel and tourism are key sectors driving growth and diversification of UAE and the region’s economies. Visa is delighted to partner with Qashio in bringing this innovative solution that leverages Visa’s technology, extensive network, and data analytics. This partnership reflects our commitment to providing secure and seamless payment solutions that enable the digital transformation and improve efficiencies of travel and tourism companies.”

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A jury evaluated entries based on the following criteria: progression of applicants’ entrepreneurial journey; robustness of their business metrics; digital presence; and demonstrated ability to problem-solve confidently. The members of the jury included: Ali Bailoun, Regional General Manager at Visa, Suzy Al Zeerah, COO of Bahrain FinTech Bay, Fatema AlAlawi, Acting CEO of Bahrain Islamic Bank, Marwa Al-Eskafi, Director of Partnerships at Tamkeen, and an Award-Winning Businesswoman, HE Huda Janahi.

By participating in the program, all women entrepreneurs gained access to practical insights from female leaders in Bahrain, as well as valuable tools and educational resources. These include Visa’s Practical Business Skills Program, designed to help them grow and develop their businesses.

Fatema AlAlawi, Acting CEO of BisB, commented, “It was an honor to participate in this incredible initiative for the second consecutive year, as part of our ongoing efforts to support female entrepreneurs in the Kingdom. We extend our heartfelt congratulations to the remarkable winners for their impactful business ideas and entrepreneurial spirit. At BisB, we are dedicated to investing in women-owned businesses, providing them with a platform to thrive within their communities. We remain steadfast in our commitment to empowering women across various fields, contributing to the realization of Bahrain’s Vision 2030 goals.”

Mohamed Al-Subaiee, Director of Innovate for Bahrain, commented, “As Innovate for Bahrain, we are immensely proud to facilitate & host the She’s Next program and awards at our new hub in Riyadat Mall. This program highlights the incredible talent and innovation of women entrepreneurs in Bahrain, who are breaking barriers and redefining what it means to innovate and lead in today’s dynamic entrepreneurial challenges. Mabrook to Haya Al Jassim and Areej Matooq on their well-deserved wins, and we’re excited to engage all the program applicants and alumni through a series of initiatives planned in 2025 in partnership with Visa.”

According to Visa’s SMB Women Digitization Index in Bahrain, women-owned businesses rely on personal finances (43%) and angel investors (44%) to set up their companies. This underscores the importance of programs like She’s Next in providing essential financial support and resources for women-owned business to grow and succeed.

Ali Bailoun, Visa’s Regional General Manager for KSA, Bahrain, and Oman, commented, “At Visa, we believe in the potential of women to drive innovation and economic growth.  She’s Next program in Bahrain reflects our commitment to supporting women entrepreneurs by providing the resources, mentorship, and funding they need to thrive. We would like to extend our congratulations to this year’s winners and finalists for their remarkable contributions to Bahrain’s entrepreneurial landscape and look forward to supporting them through this program as they can continue to grow their businesses.”

Since its launch, the She’s Next program has provided over $3 million in grants and coaching to women entrepreneurs across the globe, empowering them to scale their businesses and contribute to economic growth.

The program also recognized outstanding finalists who showcased exceptional entrepreneurial vision and innovation. These included Muna Rabieh, Founder of A Wonder Within; Aqeela Abbas, Founder of Arabiquest; and Co-Founders Reem Al Jamea and Samar Eshaq of Campinya.

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This groundbreaking initiative connects Africa’s brightest minds with experienced mentors, cutting-edge technology, and unparalleled investment opportunities.

Supporting the entrepreneurial drive of women across the continent, 85% of the startups feature female leadership, rising from less than 50% in the inaugural edition.

The Accelerator program, launched in June 2023, is reflective of Visa’s ongoing efforts to help uplift the digital economy in Africa, including a pledge to invest $1 billion in the continent by 2027 to help revolutionize the payments ecosystem.

Here are the selected startups:

• Kenya — Credable Group, Melanin Kapital, Umba, and Zendawa
• Nigeria — Bumpa, Kredete, and Nearpays
• South Africa — Block Markets Africa, Ordev.io, and Sticitt
• Egypt — enza and MoneyHash
• Algeria — Moneco (YC S22)
• Cameroon — PaySika
• Ethiopia — Kacha | ካቻ
• Ghana — WeWire
• Morocco — WafR
• Namibia — JABU
• Rwanda — Fixa

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Handpicked from a pool of over 50 applicants from across the UAE, the winning woman-owned small business received a $50,000 grant along with a three-month online mentorship from PublisHer as well as a one-year license from Sharjah Publishing City. The winner was selected from a pool of applicants from the UAE publishing industry.

A jury evaluated entries based on the following criteria: the progression of applicant’s entrepreneurial journey; robustness of their business metrics; digital presence; and demonstrated ability to problem-solve confidently. The members of the jury included: Salima Gutieva, Visa’s Vice President and Country Manager for the UAE, Koula Al Mujaini, Director of Activities and Marketing at Sharjah Book Authority, Rashid Al Kous, Executive Director of Emirates Publishers Association, and Zhora Qureshi, from PublisHer.

PublisHer Founder Sheikha Bodour Al Qasimi said: “Supporting women-led businesses in publishing is a vital part of building an inclusive, truly innovative industry. The She’s Next program highlights the strength and creativity of women entrepreneurs in the UAE, empowering them to bring fresh perspectives to publishing. I am thrilled by this partnership, which provides talented women with recognition and resources to grow and thrive, contributing to a vibrant, diverse future for our industry.”

According to Visa’s SMB Women Digitization Index in the UAE, women-owned businesses rely on personal finances (57%) and family and friends (43%) to set up their businesses. This underscores the importance of programs like She’s Next in providing essential financial support and resources for women-owned business to grow and succeed.

“At Visa, we believe in the power of women to drive innovation and transform industries. This year’s She’s Next in Publishing program has showcased the exceptional talent and entrepreneurial spirit of women in the UAE. We are thrilled to support their journey and can’t wait to see the incredible impact they will make,”  said Dr. Saeeda Jaffar, Visa’s SVP and Group Country Manager for GCC.

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From today until November 9, 2024, women entrepreneurs from all industries and sectors in Bahrain can apply to She’s Next. Two winners will receive a grant pool of $55,000 USD, and 15 finalists will receive a tailored training workshop. All applicants will have access to webinar training, She’s Next Club resources, such as the Practical Skills Business Program, and a community of entrepreneurs. This initiative is dedicated to propelling the growth of women entrepreneurs by offering funding, mentorship, bespoke training, and ample networking opportunities.

In 2023, the International Trade Centre (ITC) and Visa GCC’s collaborative SheTrades and She’s Next initiatives trained 340 women from six countries, supporting over 12,000 women employees. With 96% of participants reporting improved skills and 97% increased self-confidence, the partnership is set to expand. The extended collaboration aims to enhance women entrepreneurs’ business and digital skills, improve their export competitiveness, market access, and financial inclusion.

Ali Bailoun, Visa’s Regional General Manager for KSA, Bahrain and Oman, said, “We are excited bring back the She’s Next global advocacy program for women-owned businesses to Bahrain, in partnership with Bahrain Islamic Bank (BisB). According to our study, access to capital remains a challenge for women-owned businesses in Bahrain, with close to a third (28%) of women entrepreneurs citing it as a significant hindrance to business growth, this is why Visa is proud to empower more women-owned businesses in the country with much-needed funding, mentorship and resources that will successfully support expansion plans and allow them to thrive.”

Fatema AlAlawi, Acting Chief Executive Officer at Bahrain Islamic Bank (BisB), stated: “We are thrilled to partner with Visa for the She’s Next initiative, which empowers women entrepreneurs in Bahrain. This program not only provides essential funding and mentorship but also fosters a supportive community where women can thrive and innovate. At BisB, we are committed to supporting the digital transformation and growth of women-owned businesses, ensuring they have the tools and resources needed to succeed in today’s competitive market.

The She’s Next initiative aligns perfectly with our mission to promote financial inclusion and economic empowerment for women. By offering tailored training programs, networking opportunities, and access to valuable resources, we aim to help women entrepreneurs overcome challenges and achieve their business goals. We believe that by investing in women, we are investing in the future of Bahrain’s economy. We look forward to seeing the positive impact this initiative will have on the lives of women entrepreneurs and their communities.”

Mohamed Al-Subaiee, Director of Innovate for Bahrain, stated: “This program embodies our commitment to helping women unlock new opportunities, scale their businesses, and contribute to the vibrant entrepreneurial ecosystem in Bahrain. We are excited to partner with Visa & BisB to facilitate and run the program in this second edition, localizing the initiative to ensure a greater reach and impact across the country.”

She’s Next is part of Visa’s efforts to support digitalization of women-owned businesses and features the first edition of Visa’s Women SMB Digitalization Index in Bahrain. The Index scores businesses based on 5 indicators: online presence, digital payments acceptance, payment security awareness, customer engagement, and customer retention. For Bahrain, the index reveals that women-owned businesses scored highest in online presence, digital payments, and security awareness.

Key findings of the Women SMB Digitalization Index study include:

Raising capital

• The Survey finds that women-owned businesses rely on angel investors (44%) and personal finances (43%) to set up their businesses.
• Most women depend on strategi partnerships (35%) or venture capital (34%) to inject additional funds into their business. Twenty-four per cent women would deploy additional funds into creating new products/services and entering new markets.

Using technology

• Over 6 in 10 women understand the impact of AI in business, using the technology in sales and marketing (61%), customer service (59%), human resources (58%), payment and billing (57%), and data analysis and decision making (55%)
• Over half of survey respondents believe they had a better payment experience using AI, with faster payment processing through increased automation (52%) and enhanced fraud detection and prevention (47%) in daily operations.
• Women-owned businesses in Bahrain actively use business social media accounts (46%) or their business website (41%) to sell products and services online.
• Women entrepreneurs in Bahrain prioritize employee awareness and training (43%) and advanced security (33%) in securing their digital transactions.

Future aspirations

• More than half of respondents (52%) aspire to explore new markets or industries to expand the business.
• Nearly half of surveyed women-owned businesses (35%) want to enhance the range of products they offer.
• Many women entrepreneurs would like to learn more about payment security and setting up eCommerce (15%), raising funds for the business (15%), and how to make business more inclusive (30%).

Since 2020, Visa has invested around $3M in over 250 grants and coaching for women SMB owners through the She’s Next grant program globally including in the US, Canada, India, Ireland, Ukraine, Kazakhstan, Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Egypt, Pakistan, Kenya, South Africa, Cote d’Ivoire and Morocco.

To learn more and apply for the Visa She’s Next Grant Program, applicants must submit a short application form with details about their business and digital presence on the dedicated website.

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Visa will continue to be a part of the jury of the JOIN Fincubator, for the second consecutive year, assessing fintechs for their startup ideas and business model canvases. The collaboration will also unlock opportunities by allowing startups to access the Visa Development Sandbox, a fully functional environment to test publicly available Visa-owned Application Program Interfaces (APIs) and incorporate these resources, learning, and assets into their solutions.

Visa has been a key partner for fintechs, bringing sophisticated technologies, security, and reliability to the sector. As part of this collaboration, Visa and JoPACC will further explore opportunities for cross-border remittance solutions on the Visa Direct platform.

Mario Makary, Visa Vice President, Levant Cluster Manager said: “At Visa, we believe access to the digital economy drives equitable, inclusive growth and we are excited to work with JoPACC to empower fintechs and promote innovation. By mentoring startups within the JOIN Fincubator and exploring further possibilities to accelerate their development, we are paving the way for economic development and value generation.

He added: “Visa’s many initiatives in Jordan and the wider Levant region aim to help startups take small but significant steps towards making an impact, we are helping them provide financial services to those who have traditionally been underserved. Visa collaborates with government and financial partners to serve underbanked individuals and enable digital payment transition. Visa is committed to creating a resilient and inclusive financial ecosystem.”

H.E. Maha Bahou, CEO at Jordan Payments & Clearing Company, said: “Our partnership with Visa extends beyond a mere collaboration; it is a dedication to driving meaningful change in Jordan’s fintech landscape. Together, we’re not only empowering fintech startups to thrive, but we’re also sparking a culture of innovation across the industry.”

The partnership aligns with the Central Bank of Jordan’s Fintech and Innovation Vision and Economic Modernization Vision, which recognizes the pivotal role that fintech and innovations play in shaping economies.

In addition to the partnership with JoPACC, Visa has many ongoing partnerships in place to foster fintech enablement and financial inclusion programs. In April, Visa partnered with the Central Bank of Jordan for Visa Everywhere Initiative, an open innovation program that helps startups unlock new opportunities and a global platform to demonstrate ground-breaking solutions to payment and commerce challenges.

Recently, Visa sponsored the launch of the Fintech Academy Jordan and renewed its partnership with the Institute of Banking Studies. This collaboration offers mentorship, expertise, and resources to fintechs, empowering them to thrive and unleash their creative potential. Additionally, Visa signed an MoU with the Jordan-based fintech Numa to further foster financial inclusion and support fintechs and freelancers in Jordan and the wider MENA region.

JoPACC is a domestic payment system operator that manages and develops several payment systems, introduces innovative digital financial solutions that directly benefit end-users, and produces and disseminates knowledge about digital financial services in Jordan. In 2022, JoPACC expanded its operations to enable fintech innovation by launching JOIN Fincubator, a fintech incubator that fosters the development, testing, and creation of fintech products and services.

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The Levant edition of Visa Everywhere Initiative was open to fintechs in Jordan, Lebanon, Iraq, and Palestine. An in-person final event was held in Amman, Jordan, on June 2, 2024, where five finalist fintechs, shortlisted from over 100 entries from the four countries, competed for monetary prizes, mentorship, and access to Visa’s extensive network of partners in the banking, merchant, and government sectors. Key executives from Arab Bank, Bank Al Etihad, Investbank and Orange Money were also present as sponsors and supporters of the event.

The Levant edition of Visa Everywhere Initiative introduced a People’s Favorite Award voted by the audience at the event. Jordan-based GamerG, an esports tournament platform, won the People’s Favorite Award along with a cash prize of $10,000.

Ziad Asa’ad Ghanma, Deputy Governor, Central Bank of Jordan, commented: “We are delighted to see the culmination of the Visa Everywhere Initiative in the Levant region with the announcement of this year’s winners. The initiative has provided an exceptional platform for fintechs in our region to showcase their innovative solutions and address critical challenges in the financial sector. Visa’s commitment to fostering fintech innovation aligns seamlessly with our fintech vision to develop a dynamic and inclusive financial ecosystem. Congratulations to the winners, and we are confident that their contributions will further enrich the fintech landscape in the region.”

GamgerG will participate in the upcoming Central and Eastern Europe, Middle East and Africa (CEMEA) Regional Finals on 23 July 2024 (live streamed on TechCrunch).

Also honored at the Visa Everywhere Initiative Levant finale, eDamana from Jordan was first runner-up with prize money of $15,000. In third-place, Simma from Iraq, received a total of $10,000. Two fintechs from Lebanon – Purpl and Matensa also took part in the finals event.

Each of these finalists presented their solutions to the payment challenges of tomorrow to an expert panel of judges, which included Said Murad, Operating Partner at Global Ventures; Muntaser Dawwas, CEO of Invest Bank; Maha El Bahou, CEO of JoPACC;  Luma Fawaz, CEO of Oasis 500; and Hasan Kazmi, Head of Digital Partnerships and Ventures, CEMEA at Visa.

To understand the challenges and opportunities of fintechs in the Levant region better, Visa commissioned an independent study among thought leaders and fintechs in the region that identified themes for empowerment.

The key themes that emerged from the “Understanding the Fintech Landscape – Levant” study:

The Big Picture: Emerging Trends

• Digital wallets are emerging as key payment options with significant scope to improve financial inclusion, driven by the need for security and efficiency.
• Fintechs feel increasing digitization (83%) and market readiness (78%) are the key drivers of growth in the Levant region.
• Buy-Now-Pay-Later (BNPL) is expected to be poised for rapid growth, with current adoption averaging between 5% to 10% in Jordan, Lebanon, and Iraq.
• Technologies like Artificial Intelligence play a pivotal role in Levant but are at foundational stages.

Understanding the Gaps

• 70% of respondents claim regulatory requirements and support along with need for compliance is a key barrier to their growth. Some fintechs actively look to set up in other jurisdictions where the regulations are more supportive.
• Access to funding is a high priority, with bank credit remaining an important source of finance at 17% for Levant.
• One in three fintechs believe finding skilled talent and retention is a key challenge.
• Respondents believe the banking system operates in a silo in the Levant countries, and independent fintechs are still considered as competitors

International expansion

• 70% of Levant fintechs surveyed seek geographical expansion as part of their growth roadmap.
• A two-way dynamic of cross-border movement is evident across the broader GCC and Levant regions.
• Fintech companies in Iraq, Lebanon, and Jordan are increasingly seeking to expand beyond their domestic markets, primarily to the UAE and Saudi Arabia, where they can obtain licenses easily and secure funding.

Since launching in 2015, the Visa Everywhere Initiative has helped more than 15,000 startups from over 100 countries collectively secure more than $48 billion in funding.

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