The Finance World Magazine| Edition: September 2023

Mastercard Collaborates
with One Global
to Bring Click to Pay to
Kuwait
One Global, operating under
its Payment Service Provider
(PSP) license, partners with
Mastercard to introduce Click
to Pay in Kuwait. This solution offers a
consistent, secure, and fast checkout
experience for consumers, eliminating
the need to enter card details with
every merchant. Once enrolled, users
can seamlessly check out with their
stored cards on any supporting merchant.
One Global enables Click to Pay
for digital gift cards, gaming vouchers
(Amazon, Apple Cards, PlayStation,
Nintendo), and bill payments through
their platform, Og Money. They plan to
expand the service to other countries
and support more use cases, reflecting
the growing adoption of this convenient
payment method. The collaboration
between Mastercard and One Global
began in 2007, with a recent focus on
tailored financial solutions and digital
mobile wallets in the Middle East and
North Africa.
noon.com Introduces noon Pay: A Peer-to-Peer
Payments Service
Saudi Arabian e-commerce platform
noon.com has unveiled “noon
Pay,” a peer-to-peer payments
service catering to users in Saudi
Arabia and the United Arab Emirates.
This innovative offering empowers
individuals to transfer money in the
form of noon credits to anyone using
just a mobile phone number or email
ID. To initiate the process, users grant
noon Pay access to their contacts list.
The service allows users to utilize
existing credits or add money to their
balance through debit or credit cards.
The noon Pay balance can be utilized
on the noon super app, encompassing
noon, noon Minutes, noon Grocery, and
noon Food, as well as the SIVVI app.
Additionally, users can send money
instantly to others through their mobile
number or email address at no cost.
Bahrain Unveils Digital Auction Platform for
Enhanced Trade Opportunities
Mazad, the national overseer
of public and electronic
auctions in Bahrain, has
unveiled a new digital auction
platform and an updated website.
The platform, accessible via Android
and iOS apps, is a key component of
Mazad’s innovative strategy, aiming to
enable the purchase of diverse assets
through cutting-edge digital technologies.
Noteworthy features include
asset location through Google Maps,
automated bidding, and expanding
auction categories to include unique
car plate ranges and real estate opportunities.
The accompanying website,
“Mazad.app,” offers comprehensive
access to asset information, allowing
bidders to complete all auction processes
electronically. Talal Al Araifi,
CEO of Mazad, emphasized their
commitment to seamless and convenient
service provision. As a portfolio
company of Bahrain’s sovereign wealth
fund Mumtalakat, Mazad is determined
to remain at the forefront of digital
innovation.
Saudi Central Bank
Allows New BNPL
Company
The Saudi Central Bank (SAMA)
has granted permission to “Tabby”
to offer Buy Now Pay Later
(BNPL) solutions in the country.
With Tabby’s inclusion, there are now five
authorized companies providing BNPL
services in Saudi Arabia, offering customers
the option to purchase products
and services without incurring financing
costs. This move demonstrates SAMA’s
commitment to bolstering the Finance
and FinTech sectors, fostering operational
efficiency, and promoting innovative
financial solutions to enhance financial
inclusion in Saudi Arabia. SAMA reiterates
the significance of conducting transactions
solely with authorized financial
institutions.
September 2023 www.thefinanceworld.com 19