MENA Fintech Association

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    MFTA Released The Second Volume Titled ‘A Deep Dive Into Cross Border Payments’ Which Is A Comprehensive Report Co-Authored By M2P Solutions And Mastercard On The Cross-Border Payment Landscape In The MENA Region.

    Cross-border payments are vital to the financial ecosystem in the MENA region, with two of the world’s three largest remittance corridors located in the – United Arab Emirates (UAE) and Saudi Arabia (KSA). Both the UAE and KSA have handled $78 billion in payments in 2020 (source Mckinsey) as millions of unbanked and underbanked ex-pats reside in the region.

    The report provides an understanding of the cross-border payments scenario in the MENA region, making a case that there is a strong need for new and innovative technologies to help boost financial inclusion and access to financial services.