Financial
Payments Security: The Key to Winning Consumer Loyalty in MENA

The adoption of digital commerce in MENA has skyrocketed over the past few years. Countries that were once deeply attached to cash and physical transactions have shot to digital maturity in just a few years. According to Checkout.com’s 4th annual MENA ecommerce report, The State of Digital Commerce in MENA 2024, 91% of the region’s consumers have reported shopping e-commerce in the past two years. The number of people who shop online in MENA at least once per day has grown by 80% since 2020, with the Kingdom of Saudi Arabia leading the way with a staggering 90% increase.
In response to evolving consumer demands, merchants across MENA are embarking on ambitious digitization journeys and adopting innovative payment strategies. As digital commerce moves beyond the early-adoption phase, the focus is shifting toward fine tuning performance. In doing so, strengthening payment security has become a top priority.
As innovation stimulates advancements in the payment industry, fraudsters don’t rest on laurels, further sophisticating their own scam methods and tricks. Furthermore, the very aspects of e-commerce that make it an enticing prospect for consumers – speed, convenience, and anonymity – also work in cybercriminals’ favor. Because the e-commerce ecosystem includes multiple stakeholders, the retailer, the customer, the processor, and the networks, fraudsters have multiple potential access points that they can exploit.
According to Remo Giovanni Abbondandolo, General Manager – MENA at Checkout.com, ecommerce fraud can take many forms, such as criminals using stolen credit card numbers to make purchases, transaction replays, and chargeback fraud. The diverse and complex nature of e-commerce fraud emphasizes the importance of vigilance and secure practices merchants must adopt to avoid such incidents.
But it’s not just the initial financial loss that merchants need to be concerned about. Falling prey to ecommerce fraud can damage customer trust and the company’s reputation. Alarmingly, 33% of MENA consumers say they have been a victim of payments fraud. According to The State of Digital Commerce in MENA 2024 report, safe and secure checkout is now a priority for 39% of MENA consumers. In contrast, in 2020, survey respondents placed the highest value on speedy delivery.
Furthermore, up to 30% of shoppers have said a single falsely declined payment- when a payment is declined despite the payee having sufficient funds in the account, would lead them to shop from a competitor’s website. With the cost of customer acquisition for e-commerce merchants having increased, a rise in falsely declined payments adds insult to injury. This makes high-performing acceptance solutions a matter of huge competitive importance in MENA.
To this point, it’s important to mention that the region also continues to see a relatively high number of false declined payments. According to Checkout.com’s latest report, 23% of respondents experienced a falsely declined payment in recent months. In today’s fast-paced digital economy, consumers are also less patient, less loyal, and savvier than before.
Shoppers want to know their payment is being handled by a safe and reliable partner. The good news for merchants is that fortifying payments security is a much simpler task than dealing with widespread data breaches.
In this context, Abbondandolo outlines effective strategies that merchants in MENA can adopt to minimize payment fraud and false declines, thereby enhancing consumer trust and loyalty.
- Choose a trusted partner
Partnering with a regulated payments service provider (PSP) that offers acquiring capabilities, advanced technology support, and comprehensive regional regulatory expertise can significantly bolster a business’s security measures against fraud. Regulated PSPs provide acceptance solutions that enhance payment processes through optimized messaging, routing, and retries, ensuring robust security and seamless transactions throughout. Furthermore, because fraudsters have no boundaries, partnering with a regulated global PSPs with local experience offers advanced technology solutions that include real-time fraud detection systems that are trained on detecting the most advanced global fraud scams and techniques. By analyzing transactional data in milliseconds, identifying suspicious patterns and behaviors that may indicate fraudulent activity.
By partnering with a regulated PSP that offers acquiring capabilities and advanced technology support, businesses can benefit from a holistic approach to fraud prevention and payment security.
- Harness the power of embedded AI
Regional merchants are increasingly safeguarding their businesses from fraud by leveraging a combination of tools and machine learning. Advanced payment technology empower merchants to seamlessly integrate fraud detection solutions into their platforms, without requiring additional set up. Meanwhile, AI is now trained on billions of global transactions, with merchants benefitting from a global network effect that allows them to analyze vast amounts of data to detect patterns, anomalies and emerging fraud like never before.
Minimizing fraud and improving performance in payment processing are closely intertwined goals that can significantly impact a business’s bottom line and customer satisfaction. When a business effectively reduces fraud, it tends to experience several concurrent benefits that contribute to overall performance enhancement.
Our merchants in the region have been benefiting from a whole new level of payment performance with Intelligent Acceptance. This product combines advanced Artificial Intelligence and Machine Learning, vast network data, and deep payment expertise to increase conversion and unlock untapped revenue. We have already recovered $1.1 billion of revenue, and increased acceptance rates on average by 2% for globally.
- Make data work for you
Research conducted by Checkout.com alongside Oxford Economics found that $50.7 billion was lost due to false declines in recent years. Large data sets can empower merchants to track and respond to customer payment trends with laser accuracy in real-time. Here we have seen the great benefit from Intelligent Acceptance that draws on insights from these data sets to deliver a whole new level of payment performance, increasing conversion and unlocking untapped revenue, as well as Network Tokens that have helped our merchants achieve higher authorization rates, reduced fraud and allow businesses to offer an improved customer experience, while keeping customers data
Looking ahead, half of all shoppers in MENA anticipate an increase in their online spending over the next 12 months. Abbondandolo believes that MENA merchants still have significant untapped opportunity to combat fraud, reduce false declines and their overall payments costs, while increasing their revenue. As consumers increasingly embrace digital shopping and payments, optimizing every aspect of the ecommerce experience remains crucial for merchants to capitalize on this growing trend.
Financial
Reimagining Banking: Unlocking Endless Potential and Unlimited Growth in the Middle East

By Keith Redding, Chief Revenue Officer, Universal Banking at Finastra

Reimagining banking in the Middle East is redefining how financial institutions grow, engage, and innovate. As digital transformation accelerates, banks must evolve to deliver seamless, secure, and personalized experiences that meet rising customer expectations.
Across the UAE and Saudi Arabia, adoption of digital banking continues to surge. According to Capco’s “Bank of the Future” survey, 89% of UAE customers have become more confident using mobile banking services, while 83% now access them primarily via mobile apps. Similarly, Saudi Arabia expects online banking penetration to grow by over 16 percentage points between 2024 and 2029, underscoring the region’s momentum toward smarter, connected financial ecosystems.
Reimagining Banking Middle East with Data and Analytics
Data has become the new cornerstone of success. Through AI, analytics, and machine learning, banks can decode customer behaviour and anticipate needs more precisely than ever. As a result, they can personalize offerings, boost retention, and reduce friction across the customer journey.
A clear example of this transformation is Riyad Bank’s Centre of Intelligence (COI) — Saudi Arabia’s first AI-focused banking hub — which enhances operational efficiency while driving innovation in customer engagement.
By reimagining banking in the Middle East with data-driven strategies, institutions can align financial products with real-time insights and deliver experiences that feel intuitive, predictive, and human.
Hyper-Personalization and Omnichannel Growth
Customers today interact through multiple touchpoints — mobile apps, websites, and physical branches — expecting consistent, personalized service. Therefore, delivering a seamless omnichannel experience has become the foundation of loyalty.
In the UAE, 70% of consumers are willing to share personal data for tailored experiences, while in Saudi Arabia, the number climbs to 71%. This readiness empowers banks to use analytics ethically and transparently, transforming everyday banking into relationship-driven engagement.
Digital Sales Outreach and New Engagement Models
Digital outreach is not an option — it’s essential. Mobile-first strategies, social media engagement, and AI-driven marketing are now central to how banks connect with customers.
Take D360 Bank, one of Saudi Arabia’s first digital-only institutions. It attracted over 600,000 customers within two months of launch, proving that mobile-first banking can scale fast when powered by user-centric design.
Ecosystem Collaboration: Powering Innovation in the Middle East
Another major force reimagining banking in the Middle East is ecosystem collaboration. By partnering with fintechs, big tech firms, and infrastructure providers, banks can expand capabilities faster than ever before.
Globally, fintech startups have surged from 12,000 in 2020 to nearly 30,000 in 2024. The Dubai International Financial Centre (DIFC) now hosts over 1,000 fintech firms, while Saudi Arabia’s fintech ecosystem has more than doubled within a year. This growth underscores the importance of collaboration as a driver of agility and innovation.
Such partnerships empower banks to deploy advanced solutions like AI-powered risk scoring, embedded finance, and real-time payments — all while ensuring compliance with regional and global standards.
Looking Ahead: Building a Future-Ready Financial Ecosystem
The future of reimagining banking in the Middle East lies in intelligent, insight-led operations. Automated recommendations, predictive support, and AI-driven decision-making will soon define how banks engage customers.
Forward-thinking institutions in the UAE are already adopting AI-assisted frameworks that streamline service and elevate the customer experience. In Saudi Arabia, agile innovation models like Alinma Bank’s digital factory accelerate product launches and improve customer alignment.
As the region continues to evolve, banks that combine innovation, collaboration, and customer-centric transformation will achieve sustainable growth and long-term market leadership.
Check this out UAE Crypto Regulation Sets Global Blueprint
Financial
UAE Crypto Regulation Sets Global Blueprint

By Karl Naïm, Group Chief Commercial Officer, XBTO
The UAE has evolved from a crypto sandbox to a global model for digital asset regulation, demonstrating how policy clarity, investor protection, and innovation can coexist. Once a regional testing ground, the nation now leads in tokenization, blockchain adoption, and institutional-grade compliance — setting a framework others are eager to emulate.
Institutions Move from Observation to Adoption
Over the last two years, institutional investors — from sovereign funds to global asset managers — have shifted from cautious exploration to structured allocations in digital assets. Yet, these investors only engage when they see robust regulatory infrastructure.
Here, UAE crypto regulation stands apart. While the U.S. remains divided over jurisdictional control and Europe’s MiCA awaits full rollout, the UAE offers a complete ecosystem where policy meets execution. This maturity has transformed the country into a trusted base for large-scale blockchain initiatives.
Two Regulatory Paths, One Unified Objective
The UAE’s approach balances innovation and oversight through two distinct yet aligned regulatory arms.
- Abu Dhabi Global Market (ADGM): Through the Financial Services Regulatory Authority (FSRA), it licenses custody, tokenization, and brokerage activities under strict governance criteria.
- Dubai’s Virtual Assets Regulatory Authority (VARA): Instead of classifying asset types, VARA regulates activities, giving firms flexibility to innovate without restarting their licensing process.
This dual model ensures both stability and adaptability — a rare equilibrium that reinforces confidence among enterprises and investors.
Tokenization Moves from Pilot to Production
In 2023, Neovision and Realize launched one of the first tokenized U.S. Treasury funds under ADGM’s oversight, now part of a market valued at over $2.4 billion. Soon after, HSBC piloted tokenized gold settlement in the Emirates, leveraging the UAE’s mature legal and technical infrastructure.
Unlike most markets, where tokenization remains conceptual, the UAE has operationalized it across corporate bonds, commodities, and private equity. This tangible progress makes UAE crypto regulation a benchmark for turning blockchain theory into enterprise-scale reality.
Proven Resilience Through Market Turbulence
The UAE’s frameworks were tested during the 2022 digital asset downturn. While some regions froze licensing or enforcement, VARA introduced stricter custodial and marketing rules while continuing to issue licenses transparently.
In 2024, both VARA and ADGM demonstrated accountability by penalizing unlicensed operators and enforcing compliance — signaling a regulatory environment that values both innovation and discipline.
Blockchain Beyond Finance
Beyond crypto trading and tokenization, the UAE is using blockchain to drive cross-sector innovation.
- Ras Al Khaimah has built a dedicated Web3 zone for decentralized applications.
- Sharjah is piloting blockchain in public services, from identity to supply chain tracking.
This diversification proves the national model’s flexibility and depth, blending economic and civic value under a unified UAE crypto regulation framework.
Geography Meets Governance
Situated between Asia and Europe, the UAE benefits from time-zone overlap, U.S. dollar settlement, and investor-friendly tax structures. Yet its real advantage lies in policy precision. Since 2023, VARA has issued frequent updates and consultative papers, responding dynamically to industry input.
Following its removal from the FATF grey list in 2024, the UAE has accelerated compliance reforms faster than most peers, turning global scrutiny into strategic progress.
A Replicable Blueprint for the World
While the U.S. debates regulatory ownership and Europe await MiCA’s maturity, the UAE has implemented a live, multi-emirate framework. It balances openness with oversight — a model now studied by global policymakers.
For institutional investors, the question has shifted from if to were. Increasingly, the answer is clear: the UAE — where crypto regulation is no longer an experiment, but the emerging global standard.
Read our previous post, UAE Depreciation Rules Boost Real Estate Investment
Financial
UAE Depreciation Rules Boost Real Estate Investment

By Shabbir Moonim, CFO, The Continental Group

A Sharper Edge for UAE Property Depreciation Investors
The UAE property depreciation is reshaping how businesses and family offices view property as an investment. Real estate has always anchored wealth and stability, but its treatment within corporate tax frameworks now determines how effectively it performs over time.
The latest guidance allows depreciation deductions on properties valued at fair market value, adding a layer of fiscal precision. Companies choosing the realization basis—deferring tax until sale—can now claim an annual deduction of up to 4 percent on the property’s original cost or written-down tax value. This refinement strengthens property’s role inside long-term, tax-efficient portfolios.
How Depreciation Boosts UAE Property Cash Flow
Investment success depends not only on appreciation but also on liquidity and reinvestment power. Depreciation lowers taxable income, improving post-tax returns for assets that are typically illiquid.
For structured property holders, claiming depreciation under fair-value accounting boosts internal yield and aligns property with other income-producing assets. Even at a modest 4 percent, the deduction releases capital that can be reallocated or retained, enhancing overall portfolio efficiency.
Moreover, this recurring offset stabilizes cash flows, giving investors predictable returns that complement the long-term nature of property ownership.
Aligning UAE Property Depreciation with Tax Efficiency
Previously, owners had to choose between fair-value accounting and depreciation benefits. Businesses valuing properties at market rates lost tax deductions, while those using historical cost models retained them. The new UAE depreciation rules remove this compromise.
Now, companies can maintain up-to-date valuations and still claim depreciation, ensuring transparency and consistency. This alignment allows property to compete directly with other investment classes, from private equity to listed securities, on a balanced tax basis.
Consequently, financial planners can make clearer, data-driven decisions about capital allocation and portfolio composition.
Small Rule, Big Impact on UAE Property Investment
While no single regulation redefines real-estate logic, subtle fiscal changes can transform investment behavior. This policy turns property from a passive holding into an active component of strategic capital management.
It also reflects the UAE’s commitment to predictable, rules-based governance that supports investment without distorting markets. For business owners and families planning across generations, this stability builds confidence and encourages long-term commitment to the country’s economy.
Ultimately, the UAE depreciation rules help transform real estate from a static asset into a dynamic tool for tax optimization and sustainable growth.
A Foundation for Smarter Real Estate Portfolios
These reforms make it easier to incorporate real estate within diversified investment portfolios. They support businesses in balancing cash flow needs, compliance requirements, and performance targets.
For investors, the message is clear: property can now compete with other asset classes not only on returns but also on efficiency and resilience. The UAE continues to build a financial landscape where predictability and innovation work hand in hand.
About the Author
Shabbir Moonim is the Chief Financial Officer at The Continental Group, with over 25 years of experience in finance, strategy, and governance. He aligns financial operations with enterprise growth, oversees risk management and treasury, and drives regulatory readiness and data-driven decision-making across the organization.
About The Continental Group
Founded in 1994 by Ashok Sardana, The Continental Group is a leading insurance and financial services provider licensed by the UAE Insurance Authority, SCA, and DFSA. With over 250 professionals operating across Europe, the Middle East, and Asia, the Group offers customized solutions in investments, wealth management, succession planning, and insurance. Its core values — integrity, insight, and innovation — continue to drive client trust and long-term financial well-being.
Check out our previous post, ADIB Launches Remit Service, Expands Digital Banking Solutions
-
Tech News1 year ago
Denodo Bolsters Executive Team by Hiring Christophe Culine as its Chief Revenue Officer
-
VAR6 months ago
Microsoft Launches New Surface Copilot+ PCs for Business
-
Tech Interviews2 years ago
Navigating the Cybersecurity Landscape in Hybrid Work Environments
-
Tech News3 months ago
Nothing Launches flagship Nothing Phone (3) and Headphone (1) in theme with the Iconic Museum of the Future in Dubai
-
Tech News2 years ago
Brighton College Abu Dhabi and Brighton College Al Ain Donate 954 IT Devices in Support of ‘Donate Your Own Device’ Campaign
-
Editorial11 months ago
Celebrating UAE National Day: A Legacy of Leadership and Technological Innovation
-
VAR1 year ago
Samsung Galaxy Z Fold6 vs Google Pixel 9 Pro Fold: Clash Of The Folding Phenoms
-
Cover Story7 months ago
Unifonic Leading the Future of AI-Driven Customer Engagement