Visa Affirms Dubai FinTech Summit as a Pivotal Platform for Innovation and Collaboration in the UAE
Visa Highlights UAE’s prominence as a FinTech Hub despite the global decline in FinTech investment, the UAE witnessed a significant surge, with a 92% increase in total investment in the sector.
Moreover, Visa’s three-year sponsorship of Dubai FinTech Summit demonstrates the company’s commitment to advancing FinTech in the region and empowering digital businesses and entrepreneurs.
Visa’s comprehensive support programs for FinTech Companies encompasses guidance, training, funding, mentorship, and innovation initiatives worldwide.
Easier Payment
Card payments were the most popular online payment method in 2023.
While mobile payments at POS witnessed a substantial increase.
Visa’s Global Payment processing capabilities handles up to 76,000 transactions per second worldwide.
Enabling seamless regional, international, and cross-border transactions.
Moreover, the strong growth prospects for the electronic payments market is driven by factors like technological innovation and rising e-commerce.
As well as shifting consumer preferences towards non-cash transactions.
Additional Details:
- Visa’s “Visa Everywhere” initiative provides a global platform for startups to showcase their innovations and secure potential funding.
- The “FinTech Fast Track” program accelerates the setup process and provides resources for rapid growth and market entry.
- The “Visa Ready to Launch – VRTL” program simplifies the payment product issuance process.
- Visa developer centers offer direct support for developers seeking to integrate Visa technologies.
- Digital wallets are expected to play a crucial role in the region’s future payment landscape, with a 35% annual increase in transaction value.
Under the patronage of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State “may God protect him” the 33rd session of the Abu Dhabi International Book began today and will continue until May 5, 2024 organized by the Abu Dhabi Arabic Language Center. pic.twitter.com/QUbIF2ohbH
— UAE Voice (@uae_voiceeng) April 29, 2024
Overall, Visa’s participation and insights highlight the UAE’s position as a FinTech hub and the promising growth prospects for the electronic payments market in the region.
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