With demand for digital payments rapidly accelerating in the region, along with the shift towards cost-effective payment solutions, this strategic partnership will empower businesses to bring to market Mastercard-enabled payment products and services in record time.

SimpliFi empowers businesses to have financial ownership by enabling them to issue payment cards to streamline business operations and drive new revenue streams. They serve as a single API for fintech companies, telcos, retailers, SaaS platforms and merchants who can integrate with SimpliFi and launch and run a card payments program with ease. In addition to enablement of card products, SimpliFi is rapidly expanding its product suite into other payment services in line with its strategy to offer a wide spectrum of payment solutions.

“Mastercard has been at the forefront of innovation, actively supporting fintech companies and businesses in bringing new customer-centric payment solutions to market with speed and ease. We are delighted to partner with Mastercard, as this association will enable our clients across the region to leverage the company’s extensive suite of products and global infrastructure,” said Ali Amin Sattar, Founder and CEO of SimpliFi.

The collaboration will leverage SimpliFi’s innovative technology in a seamless manner, thereby significantly reducing time and costs associated with such initiatives. Through introducing market-leading solutions to this partnership, Mastercard will contribute to advancing the digitalization of the payments ecosystem in the region.

“Mastercard’s mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. SimpliFi’s mission to democratize payments aligns with our objectives and we look forward to working with the company on equipping businesses with innovative payment solutions that will allow them to participate in digital commerce while fostering financial inclusion across the region,” said Amnah Ajmal, Executive Vice President, Market Development, EEMEA, Mastercard.

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The program which is funded by the Impact-Linked Fund for Gender Inclusive Fintech (ILF for GIF), managed by the Impact-Linked Finance Fund  and supported by the Swiss Agency for Development and Cooperation, and the Austrian Development Agency, the operational unit of Austrian Development Cooperation, will work with the startups to further develop and refine their products and solutions to fit the needs of different migrant communities including migrant women and refugees.

The program will provide a combination of intensive in-person and virtual investment readiness training, and connect the 11 startups to 21 other companies from sub-Saharan Africa and South Asia who will also be taking part in the accelerator, and Village Capital’s wider investor and mentor community.

These startups were selected from an applicant pool of 51, and consist of startups from Egypt, Jordan, Lebanon, the United Arab Emirates, and Qatar. 54% of the cohort have one or more female founders.

Meet the 11 startups developing financial inclusion solutions for migrants within and beyond MENA.

• Aseel (US) is a platform delivering humanitarian aid with low overhead, providing market access for handmade artisans, and offering financial access.
• Balad (Egypt) is a NeoBank for migrants and their families.
• Cwallet Services (Qatar) is an award winning startup offering a digital platform to low-income and unbanked migrant workers, domestic helpers, and blue collar workers to receive salaries, send money home, pay bills, buy groceries from their local store, access metro tickets, purchase bus tickets, and transfer money to family and friends.
• Credify (Egypt) is an Open API and SDK allowing lending and BNPL partners to enrich and automate their credit scoring using alternative data sources and their customers’ digital footprint.
• Dinarak (Jordan) is a mobile payment service provider licensed by the Central Bank of Jordan and serving more than 400,000 customers and 2,000 businesses.
• Empowch (US/Lebanon) is a mobile payments and financial services platform empowering the unbanked by providing low-cost remittance and secure digital wallets.
• Monak E-Services (UAE) is a MENA-based migrant fintech company that provides financial inclusion and life services to migrants and underserved communities via partnered networks.
• Purpl (Lebanon) is the first remittance and cash-out aggregator for the Levant region allowing for ATM network integration and cardless withdrawal, combined with a digital wallet in Lebanon. Our mission is to enable financial inclusion by making banking infrastructure available to the unbanked.
• SAV Technologies (UAE) is a one-stop money management platform for migrant populations in the Middle East, focused on savings.
• Uqudo (UAE) is a digital onboarding, e-know-your-customer (e-KYC), anti-money laundering (AML), and know-your business (KYB) solutions provider with the widest verification capabilities in the region.
• XPay (Egypt) is a real time payments and lifestyle bank for youth and families.

For more information, reach out to Eva Waweru at Village Capital (eva.waweru@vilcap.com).

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Akshay brings over 16 years of experience across Asia-Pacific and CEMEA, with a focus on driving inclusive innovation and next-gen product development in payments and commerce. Akshay also holds 7 FinTech patents and is a serial venture investor in tech startups. In his role at Visa, he leads a team responsible for developing and executing the innovation strategy for the CEMEA region. Akshay has also been instrumental in driving adoption of new payment technologies such as tokenization, contactless payments, small merchant solutions and mobile wallets.

“We are thrilled to welcome Akshay to our advisory board,” said Nameer Khan, Chairman of Mena Fintech Association. “His extensive experience in fintech and innovation will be invaluable to the fintechs in MENA and the wider community, as we work to promote the growth and development of the fintech ecosystem in the MENA region.”

As a member of the advisory board, Akshay will provide strategic guidance and support to MFTA, as well as help drive dialog with industry leaders and stakeholders. He will also play a key role in shaping the future of fintech in the MENA region.

“MENA’s FinTechs are poised to transform real lives and businesses,” said Akshay. When these innovators act with ingenuity and an inclusive mindset, everybody wins. MFTA has played a key role in building the region’s preeminent FinTech community; I am honored to support its objectives and foster the ecosystem’s growth.”

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As part of this partnership, Wego’s popular and highly rated mobile apps and website will be heavily promoted across MBC GROUP’s various platforms throughout the year. In 2005, Wego was founded in Singapore and is now dual-headquartered in Dubai and Singapore after experiencing rapid growth across MENA.

Wego entered the region relatively early launching fully localized mobile apps and website just in time to meet the demand from a new generation of MENA based travelers wanting to shop and book flights and hotels using smartphones. Wego quickly grew to become the most popular and trusted travel comparison service in the region by collaborating with hundreds of local and global airlines, hotels and online travel agents.

MBC GROUP launched in 1991 in London as the first independent satellite-broadcasting group, and moved its headquarters to Dubai in 2002 from where it became the largest multimedia company in MENA. As a media pioneer, MBC now broadcasts to audiences of millions across MENA and beyond, and maintains an unrivaled leadership by developing innovative media platforms through which it delivers informative, educational and entertaining programming.

Commenting on the partnership, Ross Veitch, CEO & Co-Founder of Wego said: “We are thrilled to welcome MBC GROUP as a strategic partner and excited by the opportunities to grow and develop the Wego brand while leveraging MBC’s huge audiences as well as their considerable brand building expertise.” He further added: “As we incorporate more video based editorial content and product merchandising to Wego’s online travel marketplace there is obvious crossover potential between MBC’s programming and Wego’s online services. We look forward to exploring those opportunities together.”

On his side, Fadel Zahreddine, Group Director of Brand Management- Marketing, Branding, Digital Businesses- at MBC GROUP said: “We’re excited to be welcoming Wego to our family, and extend our portfolio of leading mobile and digital services.” Zahreddine added: “I believe that applying MBC’s brand amplification platforms to Wego’s fabulous product offering will benefit both brands and anybody who books their travel online.”

Dubai based investment bank Arqaam Capital facilitated this transaction. Other investors in Wego include Tiger Global Management, Crescent Point Group and SquarePeg Capital.

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As the Middle East partner for Blackbox Connect’s upcoming Silicon Valley immersion program, powered by Google for Entrepreneurs, AstroLabs will be nominating four startups from the Middle East and North Africa to attend a two-week program on March 17-28, 2014.

Of the four, one will be selected to attend, with all expenses paid, including airfare, room and board, and tuition for two founders. Over the two weeks, they’ll gain access not only to Blackbox Connect speakers (who in the past have included Dave McClure, Robert Scoble, Tim Draper, and others), but also, on a final Demo Day, they’ll get to pitch to a broader community of mentors and investors, and get connected to Blackbox’s global community.

Two nominations will be from the group of startups that have been through the AstroLabs Scaling Online Startups program, and two slots have also been reserved for any other promising startups in the Middle East.

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Past attendees have called the programs a “transformational experience.” This past summer Middle Eastern startup Instabug joined the Blackbox program. Instabug co-founder Omar Gabr shared his experience with Arabnet, saying that it gave the company “great momentum.”

Interested applicants can learn more, and apply before December 10th here.

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Founded by Pierre Azzam, Mohammed Johmani and Hussam Abu Zaalan, whose vision is to ‘democratize’ app development, Mobibus empowers users to create, manage and publish their own professional looking iOS and Android apps on smartphones and tablets, without the need for any technical or programming knowledge.

“The very concept of ‘Do-It-Yourself’ is going to be a game-changer for the region,” said Azzam. “Numerous studies have established the growing smartphone penetration in the Middle East and our increasing reliance on mobile technology in both our professional and personal lives.

“Mobile technology is undoubtedly changing the way companies communicate with their audiences and conduct business. This drive for mobility means that, no matter what size your business, a mobile gateway that links you to your audience is essential. However, according to a study by the International Finance Corporation, 63% of SMEs in the MENA region do not have access to finance and so may not always be able to allocate marketing budgets to drive their business.”

“Until now, companies and individuals had to spend time and money to create a mobile app to market their businesses and interests,” added Johmani. “The Mobibus ‘Do-It-Yourself’ app maker is particularly suited to SMEs, entrepreneurs and marketers who have no experience with application programming, yet are looking for a quick, easy and cost-effective way to mobilize a business or campaign without having to compromise on design or functionality. The user interface and user experience is solid and will ensure a positive user experience.”

Pricing is moderate, transparent and flexible with either an annual ($125 per month) or quarterly ($150 per month) package fee, and the option of selecting add-ons to enhance user experience.

Abu Zaalan explained the users’ experience and steps of creating apps through Mobibus app maker: The user-friendly platform, with dual English and Arabic interface, allows companies or individuals to create a customized mobile app to suit their business or personal needs in just four easy steps:

Step one: Register
Register via www.mobibus.com. Upon registration, users will receive a username and password via email, which provides access to the app maker platform.

Step two: Design
Users can now start building a customized mobile app by selecting layouts and colors from a suite of pre-defined design templates. To further customize individual elements within the app, users can upload images, logos and assets, select fonts and specific colors.

Step three: Manage
The next step is to start uploading content. Mobibus’ proprietary content management system is unique in that it allows users to upload content in as many languages as they wish, delivering a single mobile app in multiple languages. A ‘default’ language needs to be selected, however once the app is downloaded the language settings are then interchangeable. Users can continuously update content online, with no additional charges or costs.

Step four: Preview and publish
By downloading the Mobibus ‘mobilizer’ from the App Store or Google Play, users are able to preview the app in real time as they build, on their very own smartphones. There is also a 14-day trial period available before they are required to publish and pay for it.

“With the increasing smartphone penetration across the region, coupled with the increasing reliance on mobile devices, businesses need to seriously consider mobile as a key touch point, not only to deliver information but to engage with their audiences and influence their decisions,” said Azzam.

“This is just the beginning for Mobibus,” concluded Johmani. “We will continuously develop and improve the platform to ensure it evolves alongside evolving technology trends and software.”

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However, the region remains 3.7 points below where it was this time last year. The survey results were announced by YPO (Young Presidents’ Organization), a not-for-profit global network of 20,000 chief executive officers.

As usual, changes in business confidence at the country level were varied. Increased optimism amongst CEOs in the main oil-exporting nations, including Saudi Arabia, United Arab Emirates and Oman, contributed to the moderate uplift in regional sentiment. Nations where optimism eroded in the first quarter included Egypt and Libya.

Sales forecasts strengthen. The YPO Sales Confidence Index for MENA advanced 2.6 points to 67.8, which is firmly in optimistic territory and above the global sales confidence level of 66.3. Even with the increase, this reading is still 2.3 points below where it was this time last year.

Employment confidence edges higher. The employment component of the index gained 1.8 points to land at 58.8. Service organisations reported the most ambitious recruiting plans, with 51% planning to increase their workforces over the next 12 months compared with 29% in the production (manufacturing and construction) sectors. By company size, small companies indicated the most aggressive hiring plans, with 57% planning to increase headcounts, versus 33% of large companies and 45% of medium-sized companies.

Fixed investment plans remain robust. The fixed investment index increased from 57.3 to 60.8. Four in 10 (44%) MENA CEOs plan to boost capital spending over the next 12 months, compared with 40% of the global sample.

“Business sentiment in MENA remains optimistic, thanks to strong oil prices in the first quarter and ongoing economic diversification in key countries like Saudi Arabia,” said Suzy Kanoo, president of Manama-based Khalil Ebrahim Kanoo, chair of the YPO Middle East and North Africa Region, and a member of YPO’s Bahrain Chapter.

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Effective Measure Regional MD – MEA, Brendon Ogilvy said, “While there are existing reports on mobile that are US or UK based, there is a lack of qualitative research compiled within MENA to show what local mobile consumers like, want and have. Mobile Measure fills that gap to ensure that companies are getting the right information in their hands.”

Top-line trends from Mobile Measure:

• Unlimited data packages increased from Q1 to Q2, with two out of five consumers enjoying unlimited data plans.
• Telecommunications competition is heating up across prepaid and postpaid contracts as consumers become more savvy and demanding for the best value for data.
• Brands of mobile phones used are correlated to the income bracket of each country – with Nokia, Apple, Blackberry and Samsung being the main players in this region.

“Boasting some of the highest mobile penetration rates in the world, the rise of digital media consumption in the Middle East has highlighted the importance of local and cultural understanding. Content creators and global brands are starting to capitalize on peak engagement times such as Ramadan, when working hours are shorter but consumers are prolonging screen time on mobile devices,” Ogilvy said.

Effective Measure’s Insight Q2 report on Mobile Measure was compiled from data collected directly from over 6,000 respondents across Egypt, Jordan, Kuwait, Qatar, Saudi Arabia and United Arab Emirates from April to June 2012.

“With the mobile uptake in the region increasing steadily, there is an urgent need for local digital strategists to take notice of what key trends there are in their own backyard,” added Ogilvy.

The Mobile Measure Q2 Insight Report is complete and ready to be distributed to digital strategists and marketers interested in the region.

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