Noha Gad

Investment is a fundamental pillar of wealth building that enables people to grow their money far beyond the limits of standard savings. Amid today’s economic uncertainties, smart investors seek strategies that balance risk and reward. This approach not only preserves capital but also positions portfolios for sustainable long-term gains.

Hybrid funds emerge as a compelling solution within this landscape, combining the growth potential of equities with the stability of debt instruments. Unlike pure equity funds that ride market highs and lows or debt funds focused solely on steady income, hybrid funds offer a diversified mix of stocks, bonds, or other fixed-income assets. This combination aims to deliver moderate returns while cushioning against volatility.

Professionally managed within the mutual fund framework, these funds dynamically adjust allocations based on market conditions, such as shifting toward debt during downturns or equities in bull markets. 

What are hybrid funds?

A hybrid fund is an investment fund that diversifies among multiple asset classes, such as stocks and bonds, to provide a balanced risk and return profile. These funds aim to deliver a diversified portfolio through a single investment, making them accessible and appealing to many investors. They may also be known as asset allocation funds.

It often attracts investors who are interested in spreading risk across different asset types while maintaining efficiency. Common variants include balanced funds and target-date funds, each designed with specific investment goals and strategies.

Balanced funds are made up of both stocks and bonds, expressed as a fixed percentage. The investment objective is to achieve a mixture of growth and income. They usually attract investors with low risk tolerance who are looking for a mixture of safety, income, and modest capital appreciation.

Target-date funds, also known as lifecycle funds, invest in multiple asset classes for diversification. They differ from standard hybrid funds in that they start with riskier investments for growth potential and gradually shift to more conservative options. Portfolio managers use the set time frame to plan investments based on a long-term strategy. This strategy relies on riskier stocks in the early years, moving gradually toward fixed-income investments like bonds in later years.

Reasons to invest in hybrid mutual funds

Hybrid mutual funds offer a balanced approach by mixing equities and debt. Key benefits include:

       - Asset diversification: Spreading investments between volatile stocks and stable bonds minimizes overall portfolio risk. This built-in balance suits investors wary of pure equity swings, providing smoother performance over market cycles in some regions.

       - Professional management: Fund managers adjust allocations dynamically to market shifts. This expertise eliminates the need for individual asset selection, making it ideal for busy professionals focused on long-term goals

       - Accessibility for beginners: Low minimums via systematic investment plans (SIPs) allow easy entry without large upfront capital. This democratizes diversified investing, enabling young savers to build habits early through automated contributions tied to apps popular in the region's digital finance ecosystem.

Despite their appeal, hybrid funds can have different challenges, notably:

       - Market sensitivity: The equity component remains exposed to stock market downturns, pulling overall returns lower during broad sell-offs. Even balanced funds experience notable declines during equity corrections

       - Interest rate risk: Rising rates devalue debt holdings, as bond prices inversely correlate with yields, impacting conservative hybrid values.

       - Liquidity limitations: During market stress, funds may impose redemption gates or limits, trapping capital when investors need it most. This contrasts with more liquid individual savings options.

       - Expense ratios: Annual fees gradually reduce compounded returns over time. This highlights the need to compare costs against passive alternatives.

For those seeking a moderated path to long-term financial growth, hybrid funds stand out as a compelling, structured, and resilient option for any well-rounded portfolio. These funds present a strategic middle ground for investors seeking a single, professionally managed vehicle that balances growth and stability. By integrating asset diversification with dynamic management, they offer a pragmatic solution for building wealth over time, particularly for those with moderate risk tolerance and long-term financial goals. While they provide significant advantages, such as built-in asset allocation, accessibility through SIPs, and adaptive management in shifting markets, investors need to consider major challenges.

Noha Gad

The global financial ecosystem is undergoing a quiet yet profound transformation, driven by the rise of digital assets. At the forefront of this shift are stablecoins, digital currencies designed to maintain a stable value by being pegged to a reserve asset such as the US dollar, gold, or another fiat currency. Unlike other cryptocurrencies, such as Bitcoin or Ethereum, whose prices fluctuate sharply, stablecoins aim to combine the speed and efficiency of digital assets with the reliability of traditional money. 

Stablecoins promise the transparency and borderless nature of blockchain technology while mitigating the wild price swings that have hindered the everyday use of digital currencies. They are becoming a critical infrastructure layer for the new economy, enabling instant settlements, powering decentralized finance applications, and offering a digital haven of stability. Thanks to their potential to streamline payments, reduce transaction costs, and enhance financial inclusion, stablecoins are increasingly used for faster payments, remittances, and cross-border transactions.

Regulated rollout in Saudi Arabia

Saudi Arabia is taking steady moves toward launching stablecoins under national regulation, signaling a new phase in the Kingdom's digital asset strategy. Recently, Saudi Minister of Municipal, Rural Affairs, and Housing Majed Al-Hogail announced that the government plans to launch stablecoins soon in partnership with the Capital Market (CMA) and the Saudi Central Bank (SAMA), affirming that digital currencies could create a faster financial system if they were developed within Saudi values and regulations.

With 79% of retail transactions already cashless, Saudi Arabia is uniquely positioned to utilize stablecoins as part of its vision to become a global logistics and financial hub. 

Experts believe that the Kingdom’s exploration for regulated, utility-based stablecoins marks a turning point for the region’s digital asset landscape and reflects Saudi Arabia’s commitment to modernization, consumer protection, and financial stability. They emphasized that stablecoins could advance the Saudi financial ecosystem when embedded in rigorous regulatory frameworks and governed transparently, ultimately enhancing payments, trade, and innovation.

Impacts on key sectors

Utilizing regulated stablecoins could have transformative impacts across key sectors in the Kingdom, thanks to their stability, speed, and blockchain efficiency. They could revolutionize the fintech and payments landscape through a foundational shift towards a real-time, programmable, and seamlessly integrated financial infrastructure. The inherent transparency of blockchain transactions, when designed with privacy safeguards, can automate regulatory reporting and anti-money laundering checks, creating a more secure and efficient financial system. Additionally, stablecoins could enable instant, low-cost remittances vital for the Kingdom's large expatriate population, outpacing traditional systems by reducing fees and settlement times.

In logistics and e-commerce, stablecoins will play a pivotal role in streamlining cross-border settlements, cutting friction in supply chains, and reinforcing the Kingdom’s position as a global logistics hub. By eliminating the settlement delays and interbank fees inherent in current card and transfer systems, consumers will enjoy near-instant checkout, both online and in physical stores, using QR codes or device-to-device transfers. This will eventually create a more dynamic, cash-lite economy where small merchants benefit from immediate settlement, reducing their working capital burdens.

Integrating stablecoins into the real estate sector will also facilitate fractional ownership of tokenized assets and attract global capital inflows. In his speech at the World PropTech Summit 2025, Al-Hogail highlighted that stablecoins could expand the SAR 300 billion real estate funds market by enabling transparent, real-time investor access to commercial, residential, and land properties. Additionally, a regulated, Riyal-pegged stablecoin would enable atomic settlements, where payment and asset title transfer occur simultaneously in a single, irreversible transaction. This eliminates the need for lengthy escrow processes, reduces counterparty risk, and significantly cuts the administrative and legal fees associated with property transactions.

Furthermore, High-value properties can be divided into digital tokens representing shares, traded on regulated platforms, thereby unlocking immense liquidity in a traditionally illiquid market and opening the sector to a broader base of investors.

Launching and integrating regulated stablecoins into major sectors in Saudi Arabia will not merely digitize cash but also deploy a programmable monetary platform that reshapes economic interactions. The transformation across retail, real estate, and finance sectors will be characterized by the near-elimination of settlement risk, a substantial reduction in transaction costs and time, the unlocking of new asset classes and liquidity, and the creation of a more inclusive, transparent, and globally competitive digital economy for the Kingdom.

Major challenges 

Regulating stablecoins in Saudi Arabia presents different challenges that entwine technological innovation with core financial and national priorities. These challenges include:

• Regulatory classification and legal clarity. Determining whether a stablecoin is a payment instrument, a security, a commodity, or a new, unique asset class is pivotal to deciding which regulatory authority, either SAMA, the CMA, or both, has oversight. Creating a seamless, non-overlapping regulatory border for potentially hybrid instruments that blend payment and investment features requires unprecedented inter-agency coordination and potentially new legislative frameworks.
• Implementing rigorous Shariah-compliance frameworks. Stablecoins must comply with Shariah principles to gain mass acceptance in the Kingdom. Thus, regulators will need to establish clear and standardized guidelines, which may lead to a preference for asset-backed or gold-backed stablecoin models over algorithmic ones.
•  Operational and technological hurdles. Regulators may face the operational and tech hurdles of cross-border coordination and effective supervision. Domestically, Saudi regulators might need to build new supervisory capacities to monitor 24/7 blockchain-based systems, conduct real-time audits of reserve holdings, and oversee smart contract security to protect consumers from technical failures or hacks.

Finally, the emergence of stablecoins represents a pivotal evolution in the architecture of global finance, offering a fusion of blockchain innovation and monetary stability. In Saudi Arabia, the deliberate and regulated integration of this technology is a modern means to advance the strategic ambitions of Vision 2030, ultimately enhancing payments efficiency, revolutionizing capital markets through tokenization, and fortifying the Kingdom’s position as a cross-border trade connection.

The successful navigation of regulatory and technological challenges will eventually determine whether the Kingdom can transform these digital instruments into robust pillars of its future economy.

Noha Gad

In today’s dynamic global economy, startups and innovative businesses play a pivotal role in driving growth, job creation, and technological advancement. This vibrant startup environment thrives on agility, disruption, and the continuous pursuit of novel solutions. Parallel to this evolution is the rise of the gig economy, a labor market characterized by short-term, freelance, and project-based work enabled by digital platforms. 

The gig economy complements the startup and business ecosystem by offering flexible income opportunities and fostering entrepreneurial activity. The concept of gig work roots stretching back centuries to early human societies, where task-based labor was the norm.

The digital revolution in the late 20^th century transformed gig work by enabling online platforms to connect freelancers with clients globally, facilitating a wide range of short-term, project-based, and freelance work across industries, including ride-sharing, food delivery, high-skilled remote consulting, digital marketing, IT development, and healthcare services.

How does the gig economy work?

This economy operates on a fundamentally different business model from traditional employment, centered around flexibility, technology platforms, and task-based work. Gig workers typically take on short-term assignments, freelance projects, or on-demand jobs often sourced and managed via digital platforms, which act as intermediaries, connecting businesses or individuals needing services with independent contractors worldwide.

One of the key features of the gig economy is that it leverages AI-powered algorithms to match gig workers with assignments based on skills, location, and availability, optimizing efficiency for both parties. Companies can access diverse, scalable talent pools across geographies, benefiting from on-demand expertise without long-term commitments.

Additionally, many businesses integrate gig workers alongside traditional full-time staff, using gig labor to manage peak workloads or specialized tasks. Overall, the gig economy functions as an agile, technology-enabled labor market providing flexible opportunities for workers and cost-effective, scalable solutions for businesses, significantly reshaping the future of work.

Pros and Cons

The gig economy offers diverse benefits for both workers and businesses in today’s growing labor market. For workers, it provides:

-Flexibility and autonomy. It allows workers to choose when, where, and how much they work, enabling a better work-life balance.

-Diverse income opportunities. It paves the way for multiple income streams across various industries, including emerging fields like IT, finance, healthcare, and digital marketing.

-Skill development. By working on varied projects, freelancers can gain experience and build specialized skills and entrepreneurial capabilities.

Additionally, the gig economy helps businesses to:

-Reduce costs by saving on traditional employment expenses such as benefits, office space, onboarding, and long-term commitments.

-Expand teams. Startups can quickly scale teams up or down to meet demand and seize new opportunities without the rigid overhead of full-time staff. 

-Access specialized talent: the gig platform offers access to a global, diverse pool of flexible, highly skilled professionals, allowing startups to fill specific skill gaps.

-Bolster innovation and productivity. Flexible schedules for gig workers would help startups foster creativity and maintain productivity across different time zones.

Although gig economy jobs offer flexibility and independence, they also come with challenges, such as the lack of employee benefits, navigating taxes, securing health insurance, dealing with income fluctuations, and the lack of a workplace community.

How does the gig economy support startups?

The gig economy plays a pivotal role in reshaping entrepreneurship and business operations worldwide. Researches show that individuals participating in the gig economy are about twice as likely to start their own businesses compared to non-gig workers. This trend is most prominent among first-time entrepreneurs, younger workers, and those seeking flexible opportunities.

For many workers, gig work provides a low-risk environment to gain industry experience, test business ideas, and build capital before founding a startup, enabling experimentation, learning on the job, and gradual business development without the pressures of traditional employment.

In turn, the gig economy offers startups a scalable, cost-effective access to talent as they can flexibly engage freelance experts for specialized projects such as software development, creative design, and marketing campaigns without the overhead of full-time hires. This agility helps startups innovate rapidly, manage fluctuating workloads, and control expenses.

Thus, the gig economy offers a fertile ground for entrepreneurial talent and serves as a strategic resource for startups, creating a dynamic ecosystem fueling innovation and economic growth.

Future outlook

The gig economy is expected to witness a remarkable growth within the next five years, driven by technological advancement, regulatory changes, and shifting cultural attitudes toward work. This shift will require gig workers to continuously upskill, with personalized and AI-powered training platforms becoming essential for maintaining competitiveness.

Finally, the gig economy is a defining feature of the future of work, offering unprecedented flexibility, entrepreneurial potential, and access to global talent. understanding and strategically engaging with the gig economy will be essential for businesses, startups, and workers alike to thrive in this rapidly changing economic landscape.

Noha Gad

Emerging technologies, particularly artificial intelligence (AI), significantly transform the healthcare sector globally by improving diagnostics, treatment precision, patient monitoring, and healthcare delivery. Saudi Arabia is one of the leading countries that harnesses these technologies to modernize its healthcare system and increase accessibility. 

The Kingdom invests heavily in digital healthcare to improve efficiency and patient outcomes, potentially unlocking as much as $27 billion by 2030. This includes advancements in telemedicine, electronic health records, and other digital health technologies.

The Saudi Vision 2030 emphasizes the importance of privatization and Public-Private Partnerships (PPPs) in driving healthcare transformation. By fostering collaboration, these approaches contribute to achieving the digital health goals outlined in Saudi Arabia's ambitious vision for the future.

The Saudi healthcare sector is witnessing unprecedented privatization, with over 290 hospitals and 2,300 health institutions transitioning into private operations. By 2030, private sector involvement is expected to grow from 25% to 35%, unlocking fresh capital inflows and efficiency improvements, according to recent insights into the Saudi healthcare market by Eurogroup Consulting.

Digital transformation continues to accelerate in Saudi Arabia, with $1.5 billion invested in telemedicine, AI-driven diagnostics, and electronic health records (EHR). These innovations are reshaping healthcare accessibility, allowing remote consultations to flourish and minimizing hospital congestion. AI-powered automation also optimizes treatment plans, improving patient outcomes and reducing administrative burdens. 

Additionally, the mental health market in the Kingdom is undergoing a remarkable transformation, triggered by a mix of government reforms, social awareness, and growing private investment. According to Eurogroup Consulting, the mental health market in Saudi Arabia is projected to reach $8.9 billion by 2033, with a compound annual growth rate (CAGR) of 5.23% from 2025 to 2033. This growth reflects a broader shift in the Kingdom’s healthcare priorities, where mental wellness is increasingly seen as fundamental to social stability and productivity.

Telemedicine innovations in Saudi Arabia

Telemedicine emerged as a vital component in transforming healthcare delivery across Saudi Arabia, enabling patients to access medical care remotely through digital platforms. This technology breaks down geographical barriers, bringing expert consultations and continuous care to rural and underserved regions, which traditionally struggled with limited healthcare infrastructure.

The COVID-19 pandemic accelerated telemedicine adoption by mandating remote care solutions to reduce infection risks while maintaining healthcare access. This surge highlighted telemedicine’s potential to alleviate hospital overcrowding, enhance patient convenience, and reduce healthcare costs.

A recent report released by Ken Research showed that the Saudi telemedicine market is valued at $1.2 billion, driven by the increasing adoption of digital health solutions, rising healthcare costs, and the need for accessible medical services, especially in remote areas. It highlighted that Riyadh, Jeddah, and Dammam dominate the telemedicine market due to their advanced healthcare infrastructure, high population density, and significant investment in health technology. 

Another report by Grand View Horizon anticipated the telemedicine market in the Kingdom to reach a projected revenue of $ 2.3 million by 2030, showing a CAGR of 18.4% between 2025 to 2030.

AI-driven telemedicine platforms in Saudi Arabia integrate AI into telehealth to enable proactive health management, optimize clinical workflows, and support early disease detection. Seha Virtual Hospital, launched by the Ministry of Health (MoH) as part of the Health Sector Transformation Program (HSTP), is a notable example. Being the first virtual hospital in the Middle East, Seha offers a full spectrum of telehealth services, including emergency and critical consultations, specialized clinics, multidisciplinary committees, supportive medical services, and home care services, empowering the best health consultants and practitioners in micro and rare specialties using the latest medical technologies.

Another example is Sanar, an MoH-licensed medical platform that offers comprehensive medical services including telemedicine consultations and home medical services. Other key players in the Saudi telemedicine sector include Cura, Vezeeta, MedIQ, Altibbi, Labayh, and more.

Overall, telemedicine innovations in Saudi Arabia focus on combining AI capabilities with digital platforms to offer accessible, efficient, and patient-centric healthcare, ultimately cementing the Kingdom’s position as a regional leader in AI-powered telemedicine and digital health solutions.

AI-driven diagnostics

In recent years, AI has redefined various sectors, notably healthcare. One of the most promising applications of AI is in diagnostics, where it enhances the accuracy and speed of identifying health conditions. In Saudi Arabia, AI diagnostics contribute to advancing the medical field, becoming a cornerstone of Vision 2030’s goals of diversifying the economy and improving public well-being through high-tech healthcare solutions.

With Saudi Arabia pledging massive investments in AI to improve its healthcare services, the AI diagnostics market in the Kingdom is projected to reach $204.9 million by 2030, marking a CAGR of 36.5%.

A recent study by Research and Markets indicated a favorable view of AI in healthcare among respondents in Saudi Arabia, with many disagreeing that AI diminishes the value of the medical profession. Half of the respondents either agreed or strongly agreed that AI contributes to reducing errors in medical practice.   

AI diagnostics analyze medical data more consistently and accurately to address human errors in diagnosis, which may lead to misdiagnosis, delayed treatment, or even unnecessary procedures. 

AI systems can operate tirelessly and remain unaffected by fatigue or cognitive biases, which can affect even the most skilled healthcare professionals.

AI and robotics are expected to contribute over $135 billion to the national economy by 2030. AI diagnostics are vital to this transformation, aligning with the Kingdom’s strategic goals to diversify away from oil dependence and develop knowledge-based industries. 

Although AI diagnostics offers many advantages, they come with several challenges. One of the major challenges is that implementing these technologies requires substantial investments in infrastructure, including high-performance computing systems and secure data networks.

Specialized training is also required to help health care professionals work effectively alongside AI systems, while patients and providers alike must adapt to this new approach to medical care. 

Key players in the AI diagnostics sector in Saudi Arabia include SDM, a health tech startup specializing in AI-driven diagnostics for various and chronic diseases, and Nuxera AI, a Saudi-headquartered AI company that empowers doctors and healthcare providers by streamlining workflows, reducing administrative burdens, and enhancing patient care.  Another example is the Amplify AI company, which integrates AI into thermal imaging to enable fast, accessible, and objective diabetic foot screening. 

Mental health solutions and digital well-being tools

The Saudi mental health market is witnessing a remarkable transformation, driven by a mix of government reforms, social awareness, and growing private investment. With mental health services being considered as a vital part of national well-being, the market is anticipated to hit $8.9 billion by 2033, showing a CAGR of 5.23% from 2025 to 2033. This growth reflects the shift in the Saudi healthcare priorities, where mental wellness is increasingly seen as fundamental to social stability and productivity.

The Saudi government made significant reforms to drive this transformation and modernize the healthcare sector by integrating mental health into primary care systems, ensuring accessibility and reducing stigma. This approach promoted new regulations, awareness campaigns, and funding programs aimed at promoting mental well-being as part of the country’s holistic health agenda.

The MoH launched the ‘Innovate for your health’ initiative, in partnership with the Digital Government Authority, to raise community awareness about the importance of mental health and to improve the quality of life among youth and society as a whole.

Additionally, digital well-being tools, such as applications and interactive platforms, were designed to monitor and improve mental health by reducing digital addiction and associated risks such as anxiety and loneliness.

O7 Therapy is another notable example of mental health platforms in Saudi Arabia. it offers a network of over 180 qualified Arabic-speaking therapists, benefitting people across 110 countries. Since its inception, the platform has provided more than 60,000 therapy hours. It helps users to find the right therapist whose approach aligns with the user’s needs and preferences.

In conclusion, Saudi Arabia’s healthcare sector is witnessing a significant transformation, backed by emerging technologies and strategic reforms under Vision 2030. The Kingdom’s heavy investments in AI, telemedicine, and digital health platforms are revolutionizing healthcare delivery by enhancing diagnostics, improving treatment precision, enabling remote access, and optimizing patient outcomes. Privatization and PPPs are pivotal in this transformation, attracting fresh capital and fostering innovation that aligns with the Kingdom’s goal of becoming a regional leader in advanced healthcare. 

Ghada Ismail 

Open banking is emerging as a key force in reshaping financial services across the Middle East, moving beyond regulation to become an enabler of innovation. At the forefront of this shift is Spare, a Saudi-headquartered fintech, offering account-to-account payments that are faster, more secure, and more cost-efficient than traditional card networks.

With a mission to democratize access to financial infrastructure, Spare is building seamless rails for enterprises, SMEs, and fintechs, unlocking new use cases powered by instant settlements and real-time data. By working closely with regulators and businesses, the company is helping to address adoption challenges while setting the foundation for open banking to transform industries across the region.

In this interview, we explore how Spare is driving this change, what sets its model apart, and where open banking in the Middle East is headed next.

Can you walk us through Spare’s mission and how you’re redefining open banking payments in the GCC and MENA?

Spare’s mission is to democratise access to financial infrastructure to enable growth for innovative companies that want to build world-class products for their customers using a secure, seamless, and transparent connectivity that is compliant with regulatory guidelines. We’re redefining Open Banking by making payments more accessible for businesses of all sizes, giving them access to rails that are cheaper, more secure, and above all, faster. Open Banking payments will be a game changer, as they allow businesses to access liquidity far quicker than traditional legacy systems, enabling them to grow and operate more efficiently.

How does Spare differentiate itself from traditional payment gateways, and what value does your open banking model bring to fintech and enterprise customers?

At Spare, we connect directly to banks. When it comes to payments, we move money directly from account to account, avoiding intermediaries such as card networks, which means faster settlement and lower fees. For fintechs and enterprises, we unlock real-time payments, better margins, and new customer experiences with use cases such as easy-to-set-up recurring payments and refunds. This marks a significant improvement for many businesses, particularly SMEs. Lower transaction fees combined with instant settlement not only reduce costs but also enhance financial transparency and cash flow visibility.

How does Spare ensure regulatory compliance and data security in different markets, including Saudi Arabia?

At Spare, we work closely with regulators in each market and follow local licensing frameworks. On security, all customer data is encrypted, and we meet banking-grade standards for authentication and access. In Saudi Arabia, we comply with SAMA regulations, and all our data centers are based in the kingdom. In addition, in the UAE, we received an In Principle Approval, allowing us to conduct Open Finance activities under CBUAE’s regulated framework.
 

Which fields—like SME payments, lending platforms, or BNPL—are responding most to your open banking tools in the region?

We see strong pull from SMEs who need cheaper, faster collections, and from BNPL and lending players who rely on instant account verification and payouts.  There is also significant interest from lenders and microfinance companies in the rich banking data and credit risk assessment tools we provide.
 

What have been some of the biggest friction points businesses face when adopting open banking payments, and how does Spare help overcome them?

 Many businesses are concerned about customer adoption and the complexity of bank integrations. We solve this with a simple API and a user flow that feels as easy as card checkout.  We also support our partners with creating simple bank integration journeys and with educational material and content that they can equip their teams to educate customers and build trust.  Moreover, we believe the first wave of Open Banking payments adoption will come from the B2B space. Open banking offers powerful capabilities that directly address B2B needs, such as invoice payments, bulk disbursements, and recurring transactions. As with any new payment scheme introduced to consumers, widespread adoption will take time, but the foundation being built today will unlock significant efficiencies for businesses tomorrow.

What’s your roadmap for geographic expansion?
We’re focused on deepening our footprint in the region first - we’re headquartered in KSA, licensed in Bahrain, and recently received our IPA in the UAE. We’re also working on Kuwait and Oman, as they have recently released their open banking frameworks.
 

As open banking matures in the Middle East, what additional services or products is Spare exploring next?

Open banking in the region is still at its starting stages, so there’s much more to come. We’re looking at value-added services on top of payments: smarter payouts, recurring billing, data-driven credit, and insights that help with underwriting and personalized offers. Open finance is also on the horizon, and that’s an exciting next step.
 

What do you believe is the biggest misconception about open banking in the MENA region, and how is Spare helping shift that perception?

A big misconception is that open banking is only for banks and fintechs. In reality, it can transform many industries. E-commerce, healthcare, and real estate can all benefit from instant access to financial data and customer insights. At Spare, we show businesses that open banking is a foundation for innovation across the economy, not just financial services.

Noha Gad 

The e-payments have become the backbone of modern commerce as they enable everything from online shopping and bill payments to peer-to-peer money transfers and business-to-business transactions. The adoption of e-payments has surged in recent years thanks to their convenience, speed, and security features, such as tokenization and biometric authentication. Both businesses and consumers benefit from the ability to make instant or near-instant payments anytime and anywhere with minimal friction, setting the foundation for a cashless economy. 

Voice payments emerged as one of the latest innovations in the broader e-payments ecosystem. They allow users to perform financial transactions simply by speaking commands to voice-enabled devices like smartphones, smart speakers, or virtual assistants such as Amazon Alexa, Google Assistant, and Apple Siri. 

Voice payments leverage artificial intelligence (AI), natural language processing (NLP), and voice recognition to interpret spoken instructions, authenticate users, and process payments seamlessly without the need for physical interaction with devices. By saying commands, users can enjoy a faster, more convenient, and hands-free transaction experience.

This type of payment integrates with payment gateways and banks behind the scenes to complete these transactions securely, often using voice biometrics and multi-factor authentication to ensure safety.

How do voice payments work?

To conduct financial transactions via voice, users must follow few steps:

       *Activation: users activate their voice assistant by saying a wake word or opening a voice payment app and tapping the microphone button.  

       *Instruction: the user clearly states their payment command, specifying the action, the recipient, and the amount to be paid or transferred.

       *Voice recognition and processing: The voice assistant captures the spoken command and converts it into text using voice recognition technology. NLP algorithms then interpret the intent and details of the transaction.

       *Authorization: The assistant securely communicates with the user’s linked financial accounts to authorize the transaction. 

       *Authentication: Security steps, such as voice biometrics, passcodes, or multi-factor authentication, may be required.

       *Transaction processing: Once authorized, the payment instructions are transmitted to the payment service provider, which verifies the details and transfers the funds between accounts.

       *Confirmation: The user receives confirmation via voice feedback or on-screen notification.

Although voice payments offer great convenience and innovation in the digital payment space, they also come with several significant challenges and concerns that must be addressed for widespread adoption and trust. This includes:

       *Security risks. The risk of unauthorized transactions grows, as voice commands can be accidentally or maliciously triggered on voice-enabled devices.

       *Privacy. Voice payment systems collect sensitive data, including voice recordings and biometric profiles. Thus, protecting user privacy through secure storage, encryption, and adherence to data protection regulations is critical.

       *Accuracy. Voice recognition still faces challenges regarding accuracy, especially in noisy environments or with diverse linguistic accents and speech patterns.

       *Integration and standardization. The lack of universal standards makes it difficult to integrate voice payments across different devices and platforms. 

Future outlook

The future of voice payments is promising, driven by the rapid growth and transformative innovations that are expected to reshape the way consumers and businesses make financial transactions.  The voice payments market is expected to grow significantly, driven by key trends, including advanced biometric authentication, AI-powered personalization, and the integration of blockchain technology.

With the rising popularity of voice assistants and smart devices, along with consumers’ increasing comfort with voice commands, voice payments are expected to become an integral part of daily financial activities. This shift reflects a broader trend toward more natural, seamless, and user-friendly interactions in digital commerce. 

As voice payment technology matures, it will offer unprecedented convenience, enabling users to conduct transactions with simple spoken commands anytime and anywhere. Businesses and financial institutions are poised to leverage these technologies to streamline payment processes, reduce friction, and engage consumers more effectively.

Finally, voice payments are set to become a mainstream, trusted method of payment, fundamentally changing the way society conducts financial exchanges in the upcoming years.

Noha Gad 

E-wallets have transformed the way people handle financial transactions as they provide a seamless and safe digital alternative to cash and physical cards. These wallets consolidate various payment methods, such as credit cards, debit cards, and bank accounts, into a single, user-friendly interface, offering users a convenient experience and enabling them to make purchases, transfer money, and manage finances swiftly through their smartphones or any other connected devices. This simplification of payments has significantly boosted consumer adoption worldwide, particularly in urban communities and developing economies where mobile connectivity is widespread.

The rise of e-wallets considerably contributed to reducing dependency on cash and traditional banking infrastructure, ultimately promoting financial inclusion, especially in regions with a large unbanked population. 

There are several types of e-wallets, each catering to different user needs and technological ecosystems. In this blog, we will dive deep into the five main types of e-wallets and how they meet the evolving needs of both businesses and end-users.

Types of e-wallets

Closed wallet

Closed wallets, also known as a power wallet, operate as a preloaded account used for specific products or services within a particular transaction, often linked to the issuer’s payment gateway. Businesses and organizations often issue closed wallets to their customers for making payments exclusively within their ecosystem. Users of a closed wallet can only use the stored funds to make transactions with the wallet’s issuer.

Semi-closed wallet

This type of wallet has a limited coverage area as it is accepted only within a specific network of merchants or service providers. Merchants must agree to partner with the issuer to accept payments from a semi-closed wallet.

The semi-closed wallets allow users to make transactions at various merchant outlets and enable peer-to-peer transfers; however, they cannot be used to withdraw cash or make payments outside the specified network.

Open wallet

Open wallets are offered by banks to be used for any type of transaction. Unlike closed and semi-closed wallets, this versatile digital payment tool allows users to store funds and transact across various merchants and platforms. Both sender and receiver must have the same application installed on their devices.

Open wallets offer convenience and flexibility, enabling users to make payments at any merchant accepting digital payments via that wallet.

Crypto wallet

Crypto wallets facilitate secure transactions using cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. They store public and private keys required for initiating transactions on the blockchain network. The public key serves as an address where others can send cryptocurrency, while the private key is used to securely access and manage the stored funds.

Crypto wallets can be software-based (online or offline by using a USB stick) or hardware wallets that store the keys offline for enhanced security. Hardware wallets, also known as cold wallets, provide an extra layer of security and safety.

Internet of Things (IoT) wallets

The IoT wallets enable transactions between interconnected devices within the IoT ecosystem, allowing devices to exchange value and authenticate transactions seamlessly and securely.

This type is pivotal for various use cases, such as smart meters that facilitate automated utility payments, connected vehicles that enable in-vehicle payments, and supply chain tracking where devices interact to validate and record transactions.

Integration of emerging technologies into e-wallets

In recent years, the integration of emerging technologies, such as virtual reality (VR) and artificial intelligence (AI), has further reshaped the capabilities and user experience of e-wallets. 

AI has played a pivotal role in transforming the capabilities and user experience of e-wallets. Integrating AI tools can enhance e-wallets' security, personalization, and operational efficiency.

AI can contribute to enhancing fraud detection and prevention, providing personalized offerings, and helping users identify saving opportunities by analyzing their expenses. AI agents, virtual assistants, and chatbots are instrumental in elevating customer experience by providing 24/7 support, instantly answering queries, troubleshooting common issues, and guiding users through payment processes.

VR emerged as an innovative trend that enriches the retail and payment experience through an immersive digital environment. These technologies enable users to visualize products in virtual space and make instant purchases through their e-wallets without leaving the experience. 

VR can transform traditional e-wallet interfaces into interactive and visually rich experiences, making money management, bill payments, or fund transfers more engaging and less transactional.

Finally, e-wallets have revolutionized how consumers manage their financial transactions, offering a convenient and secure alternative to traditional cash and cards. By consolidating multiple payment methods into a single digital platform, e-wallets simplify payments and enable seamless money transfers, purchases, and financial management across diverse devices.

The integration of AI and VR into e-wallets can revolutionize social commerce and peer-to-peer payments within virtual worlds and redefine how consumers interact with e-wallets, blending convenience, security, and immersive experiences in the digital economy.

Ghada Ismail

CellSave Arabia is a leading provider of advanced stem cell preservation services in the Gulf region, offering families the opportunity to safeguard their future health through secure, high-quality cord blood and tissue banking. Known for its cutting-edge proprietary technology, internationally accredited standards, and patient-centered care model, CellSave Arabia has built a reputation for excellence in regenerative medicine. The company’s mission is rooted in making stem cell preservation accessible, reliable, and scientifically robust, empowering families with potentially life-saving options for generations to come.

In this exclusive interview, Sarah Al-Hajali, CEO of CellSave Arabia, discusses the company’s pioneering journey, its upcoming expansion into Saudi Arabia, and how the company is aligning with Vision 2030 to make stem cell preservation more accessible to Saudi families. She also opens up about navigating cultural sensitivities, forging research partnerships, and how AI is shaping the future of stem cell logistics in the region.

CellSave Arabia was the first private stem cell lab in the GCC back in 2005. What were the earliest challenges you faced pioneering this space, and how did you build trust in such a novel field?

CellSave Arabia was established in 2005 as the first and largest private stem cell laboratory in the GCC. At the time, stem cell preservation was a new and unfamiliar concept in the region, and we faced several key challenges in introducing it.

One major challenge was raising awareness among both healthcare professionals and the public. Many expecting parents had never heard of cord blood and tissue banking and were uncertain about its benefits, safety, and scientific validity. Educating families—especially mothers—about how stem cells could potentially treat conditions like cancer or autoimmune diseases required dedicated outreach and communication. Also, there was a common misconception that it was too expensive. 

At CellSave, our goal has always been to make this valuable service accessible to everyone. That’s why we introduced flexible payment plans to make it more affordable for all families.

As pioneers in the field, establishing credibility was critical. With no regional benchmarks to follow, we set high standards from the start, investing in international accreditations such as AABB and FDA accreditations, world-class facilities, and clinical partnerships. This, combined with transparent communication and strong collaboration with hospitals and OBGYNs, helped us earn the trust of families across the region.

Our journey has always been guided by a commitment to care, quality, and ethical responsibility, which remain at the heart of everything we do.

In 2015, we launched My Pregnancy Arabia, a non-profit initiative supporting pregnant women through education and community building. What started in the UAE has now expanded regionally, with our first successful event in Qatar held in April 2025, marking a new chapter in our mission to empower and support women throughout their pregnancy journey. Additionally, we’re excited to be expanding into Saudi Arabia soon. As part of this growth, we’ll be organizing educational events aimed at raising awareness about the benefits of stem cell banking. These events will help inform both healthcare professionals and expecting parents about the science, process, and long-term value of cord blood and tissue preservation.

Saudi Arabia is undergoing rapid healthcare transformation under Vision 2030. What makes the Kingdom a strategic priority for CellSave Arabia’s next phase of expansion?

Saudi Arabia’s healthcare transformation under Vision 2030 presents a tremendous opportunity for innovation, investment, and improved patient care. For CellSave Arabia, the Kingdom is a natural and strategic priority for our next phase of expansion.

The government’s commitment to enhancing healthcare infrastructure, embracing advanced medical technologies, and prioritizing preventive care aligns perfectly with our mission to offer life-saving, future-oriented solutions like stem cell preservation. As awareness continues to grow among healthcare professionals and families, and with an increasing focus on high-quality maternal and pediatric care, the Kingdom presents a strong opportunity and readiness for the services we provide.

Moreover, Vision 2030 emphasizes not only excellence in care but also health equity and accessibility, and that is at the heart of our next step. As we expand into Saudi Arabia, our goal is to make stem cell preservation more accessible to all families, especially those with medical histories that include conditions like cardiovascular disease, diabetes, and other inherited or chronic health concerns. We are working on expanding our footprint beyond major cities, partnering with both public and private healthcare institutions, and tailoring our offerings to meet the unique needs of Saudi families.

In short, Saudi Arabia offers the perfect environment for growth, innovation, and meaningful impact—values that have always defined CellSave Arabia’s journey.

As a GCC-based company, how do local cultural, regulatory, or healthcare dynamics influence your operations compared to global peers?

Culturally, there's a strong emphasis on family, trust, and religious values, which means we must approach awareness and education with sensitivity and respect. Many families initially had concerns about whether cord blood banking might conflict with their beliefs. Through open dialogue with scholars, we’ve clarified that the practice is not only legal but also aligned with their ethics, as it involves preserving cells from the umbilical cord—something that would otherwise be discarded—and can potentially save lives in the future. This understanding has been essential in building trust and making families feel confident and comfortable with their decision. At CellSave Arabia, we’ve taken great care to ensure our services are fully in line with cultural and religious principles, and we continue to work closely with both the medical and community sectors to educate, build trust, and provide reassurance to the families we serve.

As part of our commitment to supporting families, CellSave also offers a transplant assistance cash-back service of around SAR 15,000 if the stored cord blood is released for therapy within the first five years. This added support reflects our mission to not only preserve potential but also to stand by our clients during critical moments, reinforcing the long-term value and impact of stem cell banking.

On the regulatory side, we must comply with strict local healthcare laws and licensing requirements, which can vary from country to country within the GCC. This requires close collaboration with health authorities to ensure our processes meet all standards—especially in areas like data privacy, biological material handling, and clinical safety.

Additionally, the healthcare landscape in the GCC is unique, with a strong mix of public and private sector involvement, and a growing focus on preventive care and medical innovation. This dynamic environment allows us to work closely with both government and private hospitals, tailoring our services to meet local needs while still maintaining international standards.

Are you currently working with, or planning to partner with, any Saudi hospitals, universities, or health institutions to expand stem cell services or research efforts?

Yes, we are currently working on expanding our presence into Saudi Arabia and actively exploring partnerships with leading hospitals, universities, and healthcare institutions across the Kingdom. Our goal is to bring world-class stem cell preservation services closer to Saudi families, while also contributing to the country’s broader goals for healthcare innovation under Vision 2030.

We are in discussions with several public and private sector hospitals to integrate our services into their maternity and pediatric care offerings. At the same time, we’re looking to collaborate with universities and research centers to support stem cell research, clinical applications, and medical education in this field.

These partnerships will play a key role in ensuring that stem cell services are not only available, but also trusted, regulated, and aligned with the local medical and ethical landscape. Our expansion into Saudi Arabia is not just about business growth—it's about contributing meaningfully to a healthier future for families across the Kingdom.

How is CellSave Arabia currently using AI in its operations, from logistics and lab automation to quality assurance, especially as it scales in Saudi Arabia?

As we prepare to expand into new markets like Saudi Arabia, we are focused on adopting technologies that can help optimize operations, improve accuracy, and support scalability.

Currently, AI is being utilized in several valuable ways within our operations. For example, an AI-driven monitoring system is used in the lab to assess sample quality inside cryo dewars. This system continuously checks key markers and provides alerts and recommended actions if any values fall outside the acceptable range.

Also, AI plays a critical role in evaluating the condition of the sample upon receiving it. It verifies all essential metrics to ensure the sample has been transported under optimal conditions. If any of these criteria are not met, automated notifications are immediately sent to both the lab and the parents to prompt timely action.

AI offers exciting potential in enhancing sample tracking, environmental monitoring, and data-driven decision-making—all critical elements in stem cell preservation. We also see opportunities in using AI to support personalized client communication and operational efficiency, allowing us to deliver even more reliable and responsive services.

As innovation continues to shape the future of healthcare in the region, our goal is to remain at the forefront by thoughtfully integrating the right technologies to support our mission of safety, trust, and long-term value for families.

As Saudi consumers become more digitally engaged and expect healthcare experiences that are fast, convenient, and tech-enabled, how is CellSave Arabia evolving its service model to meet these rising expectations?

At CellSave Arabia, we understand that today’s families value speed, convenience, and clarity—especially when making important decisions like stem cell preservation.

We have digital tools and systems in place that allow us to respond to client inquiries more efficiently, provide quicker consultations, and offer real-time guidance throughout the enrollment and collection process. CellSave Arabia utilizes AI agents that can respond to expectant families 24/7 without the need for human interaction—handling everything from education to clients’ requests for documentation or sample health checks. Because each family has unique needs, these AI agents can also recommend the best services tailored to individual circumstances by referring to patients’ medical histories and other relevant information.

Our goal is to ensure that every interaction—whether online or in person—is simple, informative, and timely, in line with the modern expectations of Saudi families and the Kingdom’s broader vision for digital health transformation.

Does CellSave Arabia see Saudi Arabia as a future R&D hub for stem cell therapies, particularly given the government's investment in biotech and innovation?

With the Kingdom’s strong commitment to biotechnology and innovation, Saudi Arabia is well positioned to become a center of excellence for research and development in stem cell therapies. At CellSave Arabia, we are actively exploring strategic partnerships with universities, hospitals, and biotech organizations to contribute to this growing scientific ecosystem. These collaborations enable us to support advancements in regenerative medicine. For instance, in osteoarthritis, they can aid in repairing damaged cartilage and alleviating joint pain, while in ovarian rejuvenation, they provide new hope for restoring fertility and hormonal health. Additionally, stem cells are being investigated for their potential to regenerate heart tissue after cardiac injury, support recovery from neurodegenerative diseases like Parkinson’s and Alzheimer’s, and improve immune system function. Their ability to promote healing and restore damaged tissues also holds promise for enhancing overall health and wellbeing, paving the way for more personalized and effective medical treatments.

These advances directly support Saudi Arabia’s Vision 2030 goal to raise the average life expectancy to 80 years by 2030. By integrating cutting-edge regenerative treatments into healthcare strategies, we can contribute to extending healthy, active years of life, improving quality of life for the population, and reducing the burden of age-related diseases.

Mohamed Ramzy

Amid Egypt’s rapid digital transformation in recent years, Swypex has emerged as a key player in the fintech sector, offering innovative solutions that empower businesses to manage their spending with greater efficiency and transparency.

Since its founding in 2022, Swypex has filled the gap in the Egyptian fintech market, capitalizing on robust partnerships that fueled the company’s growth and propelled its business model toward ongoing evolution and success.

Sharikat Mubasher had an interview with the Co-founder and CEO, Ahmad Mokhtar, to learn more about Swypex’s journey and future strategy.

First, what inspired you to found Swypex, and how has the company’s vision developed since day one?

We founded Swypex in 2022 to meet the growing needs of businesses in Egypt. Over the past years, Egypt has witnessed a significant push towards digitizing financial services, driven by the government’s support marked by the rollout of ‘InstaPay’ for consumers, widespread adoption of point-of-sale (PoS) terminals, and implementation of the e-invoice system, in addition to mandating government entities to accept digital payments. 

Yet, despite this progress, businesses remained without genuine solutions to digitize their internal spending while maintaining robust governance and control levels. Here came Swypex to offer an innovative, safe solution that enables businesses to track expenses efficiently and transparently. 

What are the key services or flagship products that Swypex offers in the fintech field?

We offer a wide spectrum of technology services, notably smart corporate cards that allow each employee or team to operate under flexible, personalized spending policies. These cards can be activated within minutes and delivered in only 24 hours.

Swypex also features a comprehensive platform to manage expenses and approvals, offering live tracking and direct integration with e-invoice systems, real-time financial reporting, and smart analytics to help teams make informed decisions. Additionally, the platform integrates directly with the Enterprise Resource Planning (ERP) systems to streamline accounting processes.   

What sets Swypex apart from its competitors in this dynamic market?

At Swypex, we deliver several financial solutions tailored to meet the specific needs of businesses, empowering them to digitize expenses while ensuring higher levels of transparency and control.

We also develop programs that align with actual operations and procedures that companies follow today, delivered through a seamless, easy-to-use digital platform that helps finance and management teams streamline spending management efficiently and in a more organized manner.

What are the biggest challenges you face in delivering innovative financial solutions, and how do you address them?

The biggest challenge we face is the long-standing lack of innovative financial solutions, which has forced companies to create their own complex internal processes to manage spending.

To address this, we work closely with finance teams to deeply understand their workflows and develop software that helps them solve problems automatically without requiring complicated training or drastic changes to their daily operations. Our goal is to ensure that technology acts as an enabler, simplifying workflows rather than creating additional challenges.

How does Swypex align itself with security and compliance standards?

Swypex adheres to the highest global standards for data and transaction security and implements top-level protections in compliance with Payment Card Industry Data Security Standard (PCI DSS). We also work closely with local banks to ensure full compliance with banking laws and regulations set by the Central Bank of Egypt (CBE). 

What are the company’s expansion plans in terms of exploring new markets and developing products?

We are developing additional features for our clients, such as broadening subscription packages to cater to medium and large businesses by offering flexible services, spending analysis tools, ERP system integration solutions, and tailored short-term financing services for corporates. All of this aligns with Swypex’s mission to establish an inclusive financial ecosystem that covers every aspect of corporate expense management.  

What are the key partnerships that Swypex forged in Egypt and the broader region?

We formed multiple partnerships in Egypt, including a strategic collaboration with Visa to offer smart, secure corporate cards and another partnership with Mashreq Bank. Additionally, we partnered with MDP to develop banking and technical infrastructure.

These partnerships enable us to deliver services that give companies greater control, transparency, and operational efficiency in managing their financial processes.

What is the current size and reach of Swypex’s business activities?

Swypex officially launched its operations in 2024, rapidly accelerating its business growth. Today, we partner with several key players in pivotal sectors, such as logistics, contracting, manufacturing, retail, technology, tourism, and more. These partnerships significantly contribute to the steady monthly increase in the volume of transactions processed through SwipeX.

What role does customer experience play in Swypex’s strategy, and how do you enhance it? 

Customer experience is at the core of our work. We design every product and service based on genuine feedback from customers. Our dedicated team works continuously to enhance the user experience by regularly measuring customer satisfaction and engaging directly with their feedback.  

Swypex’s goal is to provide a flexible, fast, and hassle-free financial experience.

Finally, Swypex has contributed to shaping the fintech landscape in Egypt since its launch in 2022 by providing innovative financial solutions to help startups manage their spending efficiently. During this short period, the company has forged strategic partnerships with leading entities and financial institutions in Egypt.

Translation: Noha Gad

Noha Gad

The loyalty program market in Saudi Arabia is poised for steady growth in the coming years, fueled by innovative product launches and businesses increasingly leveraging loyalty strategies to boost sales and revenue.

According to a recent report published on Research and Markets, one of the world’s largest research market stores, the Saudi loyalty market is projected to grow by 15.4% annually, reaching $842.5 million in 2025, with a CAGR of 13% from 2025–2029, propelling the market to $1.37 billion by 2029.

This growth reflects a transformative shift in the Kingdom’s loyalty landscape, driven by technological advancements, evolving consumer demands, and Vision 2030-aligned policies that incentivize digital innovation.

At the forefront of this evolution is Resal, a pioneer in redefining loyalty and rewards solutions. By offering cutting-edge digital platforms, Resal bridges merchants, businesses, and consumers through an expansive, seamless network.

To explore Resal’s role in shaping the future of the loyalty and rewards landscape in Saudi Arabia, Sharikat Mubasher held an interview with CEO Hatem Kameli to discuss industry trends, growth drivers, and the company’s vision for revolutionizing the sector.

How does Resal contribute to the growth of digital payments in Saudi Arabia, and what makes your services unique?

Resal plays a pivotal role in advancing digital payments in Saudi Arabia by offering innovative solutions in digital cards, rewards, and loyalty programs. Our platform empowers individuals, businesses, and merchants to maximize the benefits of digital value through seamless and exceptional experiences. 

What sets Resal apart is our commitment to providing effortless rewards, seamless payouts, and smarter loyalty solutions. By integrating cutting-edge technology, we ensure that our services are not only efficient but also tailored to meet the evolving needs of our users. 

What are the biggest challenges facing loyalty programs in the Kingdom, and how do you address them?

The current loyalty and rewards landscape is fragmented, causing inefficiencies for consumers, businesses, and merchants. Consumers struggle to manage and redeem scattered loyalty points; businesses lack efficient tools for rewards and payouts; and merchants face challenges in digitizing and monetizing programs.

Resal addresses these issues by offering a unified digital platform that:

● Empowers consumers to aggregate and use loyalty points across a broad network.

● Enables businesses to manage and distribute rewards and incentives seamlessly.

● Helps merchants issue and manage digital prepaid cards and loyalty programs, enhancing customer engagement.

With 1.5 million users, how does Resal plan to scale its alternative digital payment solutions?

Resal has successfully secured $9 million in Series A funding to expand our digital rewards in Saudi Arabia. This investment will be utilized to enhance our technological infrastructure, develop new products, and expand our services to a broader audience.

Our growth strategy includes targeting new sectors, launching various technological products for alternative payment solutions, and strengthening our partnerships to reach more users and businesses across the Kingdom.

How does Resal plan to maintain its lead in digital rewards and loyalty programs, both regionally and globally?

To maintain our leadership position, Resal focuses on continuous innovation and strategic partnerships. We are committed to developing scalable products and services that cater to the evolving needs of our users with different use cases.

Our vision includes expanding our presence in the Middle East and North Africa region, offering alternative payment solutions, and enhancing our loyalty programs to provide more value to our users.

How will Resal’s partnership with Grintafy revolutionize Saudi Arabia’s sports sector?

Resal's strategic partnership with Grintafy aims to empower players and the sports community by offering digital rewards and creating an interactive user experience that encourages continuous skill development. 

By integrating our digital rewards solutions with Grintafy's platform, we provide athletes with incentives that motivate them to improve their performance and engage more deeply with the sports community. This collaboration is set to transform the way athletes and sports enthusiasts interact with digital platforms in Saudi Arabia.

Beyond sports, what other sectors does Resal target for expansion?

Beyond sports, Resal is strategically expanding its presence across several high-growth sectors, notably entertainment and lifestyle. These industries are integral to everyday consumer engagement, and our solutions aim to elevate how users interact with brands through seamless digital rewards and gifting experiences.

Our goal is to become a leading platform in innovative payment and spend management across diverse lifestyle sectors, enriching how people connect with brands and services through intelligent, easy-to-use digital tools.

What trends do you see shaping the future of loyalty programs in Saudi Arabia?

The future of loyalty programs in Saudi Arabia is being shaped by several key trends:

● AI-Powered Personalization through Data Analytics: Leveraging artificial intelligence to deliver personalized rewards and experiences is becoming increasingly important in meeting consumer expectations.

● Rise of Coalition Loyalty Programs: There is an increasing trend towards coalition loyalty programs, where multiple brands collaborate to offer shared rewards. This approach provides customers with more versatile and valuable benefits, enhancing the overall appeal of loyalty programs.

● Experiential Rewards: Saudi consumers are increasingly valuing unique experiences over mere discounts. Loyalty programs are evolving to offer curated lifestyle experiences such as exclusive dining events, travel packages, and entertainment options, fostering deeper emotional connections with brands.

Resal is at the forefront of these trends, continuously innovating to provide loyalty solutions that align with the evolving preferences and values of consumers in Saudi Arabia.

Magdy Hassan, CEO of taly

The sounds of coins clinking and bills rustling are becoming increasingly rare as we shift toward a cashless future, where digital transactions take the lead. While some people still prefer the feel of physical money, the global transition to digital payments is already well underway, and there are compelling reasons for it. The advantages of going cashless are hard to ignore.

This change is not just a vision for the future—it’s already happening in many parts of the world, including Egypt. Over the past decade, initiatives by the government and the Central Bank of Egypt have spurred economic growth and expanded financial inclusion. As a result, more than 177+ fintech startups and payment service providers (PSPs) have emerged, offering innovative solutions across 14 different subsectors. Many of these companies are expanding their services beyond Egypt, reaching regional and even global markets. The recent launch of Tokenization in Egypt is another game changer that would enable consumer to make their payment directly from their mobiles without the need to use a plastic card, which will embrace the digital life style.

In line with Egypt’s Sustainable Development Strategy and the UN Sustainable Development Goals, Egyptian banks have significantly advanced financial inclusion and digital transformation. Today, around 52 million citizens actively use financial accounts across banks, post offices, mobile wallets, and prepaid cards. Financial inclusion rates soared to 74.8% by the end of 2024, up from 70.7% in 2023, representing a 204% growth since 2016. Digital transformation is further demonstrated by a 32% annual increase in mobile wallet accounts, reaching a total of 42.1 million accounts in March 2024.

With the increasing demand of non-face-to-face payment and transfer due to the significant increase of online ordering Egypt's e-commerce market projected to double from 2025 to 2030, with the increasing need of people convenience the digital payments are becoming even more crucial. Evidence of this shift is clear: 85% of mobile wallet usage is dedicated to peer-to-peer transfers, with over 18 million wallets and over 6 million Instapay users playing a vital role in the ongoing digital transformation.

While the potential benefits of digital payments are undeniable, at taly, we believe it’s important to ask: Are we truly ready to be Digital Enabler?

The clear answer that Taly born Digitally with the vision of providing comprehensive ecosystem offering unparalleled convenience. Imagine a world where you can pay for anything, anywhere, with just a few taps on your phone or a swipe of your card. No more fumbling for change or countless trips to the ATM. Whether in bustling city markets or remote rural shops, taly ecosystem connects consumers with their service providers, merchant with their suppliers, Corporates with their employees, making day-to-day transactions faster, easier, secured, trackable, and more efficient for all stakeholders. The first of its kind Corporate Portal just launched by taly is a great example of increased corporates efficiency, saves time, reduces overhead costs, ease reconciliation between the company and its employees, and promotes a smoother economic flow.

Digital transactions create traceable records, making it harder for criminals to operate, and helping to combat tax evasion and money laundering, leading to a fairer and more just economic system.

Moreover, digital payments offer easy tracking and management, giving individuals better control over their finances and supporting effective budgeting. Consumers are increasingly aware of solutions like digital cards, Buy Now Pay Later (BNPL) options, and open banking, and they are actively integrating these solutions into their daily lives. We are really proud to be on the heart of all those solutions as digital enabler not competitor.

Of course, the transition to a cashless society isn’t without challenges. Concerns around privacy, cybersecurity, and accessibility for underserved populations are critical subjects that must be addressed. Strong safeguards are necessary to protect personal data and prevent fraud. Ensuring universal access to digital tools is vital before fully embracing a cashless system. Education and support programs will be key to bridging the digital divide and promoting inclusivity.

At taly, we understand that the shift to a cashless future is not a matter of if, but when. While challenges remain, the benefits of a cashless world—convenience, security, transparency, and economic efficiency—are undeniable. By embracing innovation and inclusivity, we can unlock the full potential of this transformation, paving the way for a prosperous future in Egypt.

Building on the continuous efforts of the Central Bank of Egypt, our company plays a pivotal role in Egypt’s digital transformation by offering a full suite of services and tailored solutions. With a team of over 200 employees, comprehensive digital processing capability, local first Tokenization platform, and payment gateway those connected with all global and local payment schemes, taly ensures secure and seamless transactions having recently renewed its ISO and PCI certifications positioning it as one of the first to be certified PCI DSS V4.0, reaffirming our commitment to the highest security standards.

As a comprehensive digital payment ecosystem, taly facilitates digital transformation by providing a seamless payment experience for banks, enterprises, and merchants. We also empower startups with innovative infrastructure that enhances financial ecosystems and accelerates transactions, driven by our unwavering commitment to advancing Egypt’s fintech sector and supporting Egypt’s Vision 2030.

Our company boasts unparalleled technological infrastructure in Egypt, promoting integration with banks and collaboration with digital payment apps. taly’s mission is to support the Egyptian economy’s digital evolution by providing the necessary infrastructure. We offer a wide range of digital solutions for Egyptian banks and their customers, including tokenization, allowing customers to use their phones as alternatives to plastic cards.

The fintech sector in Egypt has a very promising future, having already witnessed rapid development thanks to the diligent efforts of the Central Bank of Egypt. As digital transformation becomes not a luxury, but a necessity, it's time to embrace this change and leave the clink of coins behind.

Mohammed Ramzy

As Egypt’s fintech sector undergoes rapid transformation, several companies are racing to establish themselves as key players in this evolving landscape. Among them is XPay, a prominent fintech company making significant strides in digital payments and financial technology.

Industry forecasts indicate that Egypt’s fintech market is expected to grow at a compound annual rate of 37% until 2029. Against this backdrop, XPay, founded in 2018 by Mohamed Abelmottaleb, focuses on developing digital transformation solutions with a strong emphasis on financial inclusion. Its suite of services covers credit and debit card payment processing, transactions via Meeza cards, smart wallet payments, mobile payments, QR code payments, and Buy Now, Pay Later (BNPL) services.

In an exclusive interview with Sharikat Mubasher, Mohamed Abelmottaleb, Founder and Managing Partner of XPay, shared the company’s expansion plans, growth ambitions for 2025, and his vision for fostering innovation in Egypt’s fintech space.

How has XPay managed to compete in Egypt’s fintech scene?

XPay is a leading fintech company that started in 2018, right at the onset of the digital transformation era in Egypt, alongside industry giants like Fawry. I firmly believe that technology could reshape Egypt’s financial landscape. With this conviction, we launched XPay to provide payment services for businesses, vendors, and individuals through our own unique approach. We believe that financial technology is a fundamental right for every individual, regardless of their needs or background.

When did XPay officially launch operations?

The first phase focused on market research and analysis, followed by testing different financial service models to determine the best fit based on our extended 20-year expertise in the field. In 2021, XPay obtained its first license from the Central Bank of Egypt and officially began offering services to individuals and businesses. Today, XPay is considered one of the most prominent fintech companies in Egypt.

What has XPay achieved so far?

XPay has achieved significant success in Egypt’s digital payments sector, recording a 75% increase in the number of merchants by the end of 2024. This led to a 250% growth in total payment volume and a 340% rise in processed transactions, with a success rate of 83%.

What are your targets for 2025?

In 2025, we are aiming to process EGP 1 billion in digital payments, while maintaining what we call “cautious growth” carefully expanding our merchant and client base in a controlled and sustainable manner.

What do you mean by "cautious growth"?

This has been a core principle at XPay since Day One. It means every step of our expansion is thoroughly studied and carefully executed, minimizing risks for both the company and the market, especially given the sensitive nature of the sector we’re operating within.

What are XPay’s funding plans? Are you seeking new investment?

The company still relies primarily on investment from existing partners, but we plan to launch a new funding round next year to support our ambitious growth and expansion goals.

Are there any upcoming partnerships? What’s their purpose?

We are planning several partnerships with various entities this year to enhance the integration of our digital solutions and boost financial inclusion in Egypt. Currently, about 30% of Egyptians remain outside the formal financial system according to recent statistics, which is a significant gap given the population size. We need to develop more innovative services and solutions, and the best way to do this is by forming strategic partnerships with key players.

How do you see the future of fintech in Egypt?

Egypt is steadily moving toward becoming a cashless society — that’s inevitable. To achieve this, Egypt will need massive investments in digital infrastructure over the coming years. Alongside that, continuous development of technology platforms and systems will be essential. This creates a huge demand for new startups focused on innovation and advanced technology, particularly in AI-powered financial solutions. With the sector expected to grow by 37% annually until 2029, the future looks bright for fintech in Egypt.

Are there plans to expand to other markets?

Egypt remains our primary focus, and we are concentrating on expanding our services domestically. However, we definitely have plans to expand into regional markets, with Saudi Arabia being a top priority. We see tremendous potential in Saudi Arabia’s fintech landscape, and it fits well with our regional growth strategy.

Translated by: Ghada Ismail