Foloosi is a UAE Fintech startup facilitating consumer-to-business card payments by enabling the business to display QR code, Payment Link and API integrations for the customer to scan & pay conveniently.
Foloosi has raised a seed fund of 500k USD from existing investor Rasheed Alfalasi along with new investor Mohammed Alsuwaidi. Around four months back Foloosi has raised a pre-seed fund from Angel fund investor Rasheed Alfalasi
Foloosi was founded in 2018 and launched its product in the year 2019 that enables simple and easy way to accept, process, disburses payment solution for businesses. It helps businesses by providing payment gateway, payment link, subscriptions and POS software. Foloosi’s payment solutions can be integrated by both web and mobile applications.
Foloosi connects merchants with customers while giving an easy way to make payments. We see solid interest from businesses in the UAE for this service, with the transaction volumes reliably growing at above 40 per cent month-on-month. Transacting millions of dirham’s of sales every month was a key achievement for us as the business keeps on growing.
We have achieved one million + AED revenue rate at the end of July 2019 and 300+ businesses signed up to accept card payments and 2000+ users paid through Foloosi to partner businesses.
We are the only startup in UAE providing many billing solutions facilities and few of them are du top up and bills, Etisalat top up & bill, FEWA, Mawaqif topup, Mawaqif fine, National bond, NOL card, Ajman direct etc.
Products of Foloosi
Retailers can accept payment easily from customers just by generating one QR code.
Sending a payment request and get paid instantly using Foloosi’s payment link.
Retailers can accept payments in their mobile app/ website with Foloosi payment gateway and customers can pay using this gateway.
Enable recurring payment schedule, control the billing cycle and get instant alerts on subscription activity with Foloosi’s Subscriptions.
Multiple currency support
Foloosi supports 150+ currencies for international digital payments, including major currencies like USD, Euro, Pound, and INR.
Foloosi’s POS software helps to manage your business on your device. Also adjust items, manage employees, and see real time reports from anywhere.
In future, Foloosi has planned to launch a business page consisting of detailed information about the business, geo locations and customers can pay using online store without scanning.
We conclude that Foloosi’s main target is to provide payment solution for all financial sectors including small, medium and large Enterprises.
Online payments have turned into a piece of our day by day lives in the blink of an eye. We’re executing on the web through debit or Visas as well as through various different modes like UPI, net banking and wallets too.
Furthermore, why not? Online payments are quick and advantageous. They enable you to purchase items and administrations from everywhere throughout the world. In the event that you are a vendor, you can offer to anybody on the planet with a conventional web association. Your client doesn’t need a PC; a cell phone is sufficient.
Paying on the web is a key component that each e- commerce platform on the planet offers. What’s more, they can furnish this facility by incorporating with a payment gateway.
Be that as it may, what precisely is a payment gateway? Is it safe to execute through a payment gateway? Does it bode well for your business to have payment gateway integration?
What is a payment gateway?
An online payment gateway (PG) is a passage that interfaces your financial balance to the stage where you have to move your cash. A PG is a product that approves you to lead an online exchange through various payment modes like net banking, debit card, platinum card, UPI or the numerous online wallets that are accessible nowadays.
A PG assumes the job of an outsider that safely moves your cash from the ledger to the shipper’s payment gateway.
How payment gateways work?
A payment gateway focuses on verifying the touchy data given by the client all through the procedure. It guarantees security by encoding information like card and bank subtleties that have been given by the client.
The following are the basic steps showing how a typical payment gateway works.
Step 1: A customer places his or her order and then presses the Submit or Checkout button, or its equivalent button, on the website
Step 2: Once this happens, the website or the e-commerce platform takes the customer to a payment gateway where he or she enters all the relevant information about the bank or the card they are using to pay. The PG then takes the user directly to the page of the issuing bank or a 3D secure page, asking for the transaction to be authorized.
Step 3: Once the payment gateway gets the approval for the transaction, the bank then checks whether the customer has sufficient balance in the account to make this transaction a success or not
Step 4: The payment gateway sends a message to the merchant accordingly. If the reply from the bank is a “No’”, then the merchant subsequently sends an error message to the customer, telling them about the issue with the card or the bank account. If the response is a “Yes” from the bank portal, then the merchant seeks the transaction from the bank
Step 5: The bank settles the money with the payment gateway, which in turn settles the money with the merchant
When this procedure is finished, the client gets an affirmation message of the request being put.
As referenced before, the exchange of cash includes touchy data about an individual’s bank and card subtleties that are completely close to home to the person in question. Along these lines, it is basic to ensure that this data remains safe.
How payment gateways keep information secure?
A payment gateway guarantees the security of the data you put in. Here is a rundown of things that a PG does to protect your information:
First of all, the whole exchange is brought out through a HTTPS web address. This is not quite the same as the HTTP as the S in the HTTPS represents Secure. The exchange happens through this equivalent passage
Because of the hash work, the framework frequently utilizes a marked solicitation from the vendor to approve the solicitation of the exchange. This marked solicitation is a mystery word, which just the dealer and the payment gateway know
To verify the payment page aftereffect of the procedure, the IP of the mentioning server is checked to identify any malevolent action
Virtual Payer Authentication (VPA) is something that the acquirers, guarantors and the payment gateways are sponsorship to verify the procedure much more. VPA, actualized under the 3-D secure convention, includes an extra layer of security and helps the online purchasers and merchants to validate each other effectively
Benefits of using a payment gateway:
Utilizing a payment gateway isn’t only for moving cash, yet it has different advantages also. A PG can enable a shipper to give the client improve understanding.
PCI-DSS Wallet – The PCI-DSS consistence makes it secure enough to enable the client to store their own information in the entrance or passage for repeating payments.
White-Label Wallet – Payment gateways enable you to make computerized exchanges through versatile wallet applications. This is the present pattern, as it empowers the client to make every one of his exchanges by simply sitting at one spot. You can get your cash from the record equalization to the portable wallet application and afterward further use it to make payments on different applications or sites
Extortion Screening Tools – Many payment gateways furnish you with misrepresentation screening instruments to decrease the danger of losing data. These apparatuses incorporate the Card Code Value (CCV), Card Verification Value (CVV) or even the Address Verification Service (AVS). These apparatuses guarantee that there is no deceitful exchange
A payment gateway focuses on creating a safe pathway between a client and the dealer to encourage payments safely. It includes the confirmation of the two gatherings from the banks included.
The most significant advantage of a payment gateway is the way that it enables a huge number of clients to utilize it in the meantime, making it feasible for you to buy or sell products and ventures at whatever point you need.
Over the last couple of years, several changes in technology have an impact on financial and banking services as well. Now everyone is aware of the term FinTech which means usage of technology in the financial sector. Definitely, fintech influencers had their piece of share in making fintech an enormous thing by sharing their ideas and influencing the world of techno-finance. Along with several other nations, the Middle East also have seen many influencers who helped in Fintech growth.
Here’s a list of top Fintech influencers in the Middle East region (not in a specific order)
Raja Al Mazrouei is the Executive Vice President of FinTech Hive at the Dubai International Financial Centre(DIFC). She works with an aim to make DIFC as the region’s best innovative destination for Fintech.
Arif Amiri is the Cheif Executing Officer at Dubai International Financial Center(DIFC). He manages the strategic and operational functions of the center. Currently, DIFC is working towards the fintech development which is a part Arif’s vision for DIFC.
Leigh Flounders is the Senior Vice President Head of Digital Strategy and Engagement at Emirates NBD. He bagged several awards till date, amongst which The 2017 South By Southwest(SXSW) Conference FinTech & Payments pitch winner deserves a special mention.
Craig Moore is the founder of Beehive which is the first peer-to-peer lending platform in the Middle East and North Africa(MENA) region. Beehive was launched in November 2014, it connects businesses seeking finance and investors. Till date, it has provided finance to more than 32 SMEs.
Kanchan Kumar is one of the founders of Remitr. Remitr is an end-to-end money transfer platform which was started with an aim to make global payments simple. In the year 2016, it was recognized as one of the most promising startups in the UAE region.
Suvo Sarkar is the Senior Executive Vice President and Group Head in Retail banking & Wealth management at Emirates NBD. He contributes to the growth of revenue, profits and customer base for the bank by setting new standards for product innovation. He also publishes a column on the changing paradigms in the banking sector. He is considered as a Finovate speaker in the Middle East.
Abdulaziz Al Jouf is the founder of PayTabs. PayTabs is a payment gateway that provides businesses to transfer funds to each other without any complications. Realizing the difficulties faced by the SME merchants in the MENA region to get a payment gateway, Abdulaziz developed PayTabs. It provides payment solutions to all kinds of business be it small and medium enterprises, large scale organizations, etc.
Mirna Sleiman is the CEO and founder of Fintech Galaxy which is a digital crowdsourcing platform. It connects fintech entrepreneurs and investors. Mirna is the former award-winning financial journalist. She even guided several banks and governments on their digital transformation projects.
Sridhar Iyer is the Head of Mashreq Neo and Banking. Mashreq Neo is the digital banking application that is working with an aim to make banking easy and swift for the customers. This definitely makes a good addition to the growth of fintech in the UAE region.
Moussa Beidas is the founder of Bridg, a smartphone app. It is an app which uses Bluetooth to make online payments. It is the first app that works on flight mode as well. Bridg is definitely one of the best fintech innovations. It makes the payment process simple.
Sagar Sanap is the AVP- Digital Sales Lead in Citi Bank. Being expertise in the field of Product strategy, Digital marketing, and campaign management, he is making a good share in the field of fintech.
Sam Quawasmi is one of the founders of the first equity crowdfunding platform Eureeca. It provides equity-based crowdfunding opportunity for the businesses. In the year 2013, Sam Quawasmi and Chris Thomas(Founder of Eureeca) were awarded “Innovator of the Year” award by Gulf Business Industry Awards in the UAE.
Peter Smith is the managing director, policy and strategy at Dubai Financial Services Authority(DFSA). DFSA regulates the financial services conducted from Dubai International Financial Center(DIFC) which works with a vision to drive the future of finance.
Philip King is the Global Head of Retail Banking at ADIB. Prior to ADIB, he worked in several other well-known banks. ADIB launched MoneySmart which is the first digital community in the Middle East region. It also added “ADIB Express” to their app in order to provide instant digital services to their customers.
Richard Teng is the CEO of the Financial Services Regulatory Authority (FSRA), Abu Dhabi Global Market(ADGM). The first Fintech Regulatory Laboratory Framework in the MENA region was developed in ADGM under the supervision of Richard. He works in the development of Fintech ecosystem in Abu Dhabi region.
Wai Lum Kwok is the Executive Director of Capital Markets, Financial Services Regulatory Authority (FSRA), Abu Dhabi Global Market(ADGM). He is known for his efforts and supervision in the development of Fintech in ADGM.
Promoth Manghat is the CEO of UAE Exchange. He leads the global operations team of UAE Exchange center. He supervises in expanding UAE Exchange all over the world besides the day-to-day operations of his team.
Jayesh Patel is the head of Liv. account of Emirates NBD. Liv. account is the first digital banking account in the UAE region. This account was launched by taking millennials and digital lifestyle into consideration. Liv account is one of the best add-ons to Fintech growth in the UAE.
Stelios Michaelides was the head of Digital Banking in Commercial Bank of Dubai(CBD). CBD Now is a digital banking product that was launched under the supervision of Stelios. It uses the latest technologies which promote in the safe and simplest way of banking for the customer.
Siddiq Farid is the CEO and one of the founders of SmartCrowd. SmartCrowd is a real estate crowdfunding platform in the UAE. It is the only company that is regulated by the DFSA(Dubai Financial Services Authority) and the first company in UAE that supports digital real estate investments.
Tanvir Shah is the Managing Director of The Partnerships Consulting. He supervises on banking, payments, fintech strategies, etc. in the MENA region. His works have been recognized by several popular publications like The Banker Middle East, Cards International, etc.
Mark is one of the co-founders of Sarwa. Sarwa is an online financial advisor that helps customers in finding investment opportunities with good returns and low-risks. It was recognized as one of the top 20 fintech companies by Forbes and the first startup to have an innovation license by the Dubai International Financial Center.
Mike has been spending most of his career in the FinTech sector. He works as an independent mentor at DIFC(Dubai International Financial Center) Fintech Hive. Besides that, he is the CEO of BankClearly a startup which invented a new way of banking.
Omar Soudodi is the managing director at PayFort. PayFort is a payment gateway platform which provides a secured and safe payment facility for online shoppers. It has won several awards in the MENA region along with the Best Fintech Company in the year 2016 by The Entrepreneur.
Usama Zafar is the Head of Digital & Direct Marketing in ADIB. He has 13+ years of work experience in well-acclaimed domestic and international companies. He is considered as a growth hacker with accomplishments of billion dollars in annual sales of the companies he worked.
Ola Doudin is the Cofounder and CEO of BitOasis which is digital asset exchange and wallet. It allows individuals to purchase, sell and trade digital assets. Along with the digital wallet and trading services, they also offer consulting services to the organizations.
Omar Rana is the co-founder and director of strategy and finance in Finalytix. Finalytix provides financial advice and wealth management of a company. Omar is also a global fintech speaker who was invited to talk at various conferences.
Plug and Play Tech is a platform that connects Startups and the world’s largest corporations. Omeed Mehrinfar is the regional director of such an innovative platform that helps the startups, investors, etc connect with each other. Plug and Play Tech work on the main objective to catalyze technological advancement.
Osama Al Rahma is the CEO of the Al Fardan Exchange. Al Fardan Exchange is a well-known exchange center in the UAE. Apart from the Al Fardan Exchange center, he is a board member of certain well-acclaimed companies like Foreign Exchange and Remittance group, 2 the point, who is responsible for the development of strategies.
Tim Buckler is the Digital Sales Manager in Emirates Islamic Bank. With 9+ years of experience in the field of digital finance, his strategies mainly focus on developing overall e-commerce experiences. He helps in building the digital channel that eventually drives towards the customer and product gain.
Preeti Mundhra the Head of Marketing and Partnerships at the Liv. Digital Bank is one of the best fintech influencers in the UAE through Liv. account which is one of the best initiatives in the fintech space.
The founder and CEO of the well-known rent and property management platform, Ajar Online is Shaheen Alkhudhari. This platform helps homeowners manage their properties by offering a quick online rent collection facility. This makes the process of receiving or sending rent very easy.
Khalid Saad is the CEO of Bahrain Fintech Bay. Bahrain Fintech Bay is the first fintech hub in Bahrain and largest fintech hub in the MENA region. He is also the Executive Director of Fintech Consortium which helps in growth and acceleration of Fintech ecosystems.
Sonny Zulu is the Managing Director and Head of Retail Banking at Standard Chartered Bank. He is known for delivering outstanding performance at work which helped in the growth of profits, revenue, etc.
Eric Modave is the Chief Operating Office in Arab Bank who is in charge of all the IT operations, Enterprise Digital Innovation, data management, etc. for the bank. Prior to the Arab bank, he worked at top-noted banks in other regions.
Denit Varghese is the Senior Digital Planner at Carat. With long career experience in the field of digital marketing, his motto of looking at the long term success rather than short term returns makes him the best at the industry.
a UAE Fintech startup facilitating consumer-to-business card payments
through several ways by enabling businesses to display QR code, share
Payment Links and API integrations makes it possible to accept card
payments without the need of a POS machine.
Foloosi has raised an undisclosed amount of pre-seed fund from Angel fund investor Rashed Alfalasi in May 2019.
Co-founders Omar Bin Brek and Mohan K with an in-house team of 6 has managed to get the idea off the ground and continue to serve as a valuable start-up in the UAE market.
Arab Emirates has the highest banking penetration rate in the middle
east region. Though in contrary, according to UAE central bank figures
(in 2017): 75% of the whole UAE economy is based on cash transactions.
Furthermore, compareit4me.com survey (2018) show that 85% of online
orders are processed through cash-on-delivery option as a method of
payment. Residents need more advanced and modern options in line with
the UAE’s 2021 vision.
will enable a digital economy empowerment for local businesses,
operating merchants and most importantly the e-commerce sector. Foloosi
will feature a wide range of advanced technological products on its
modern platform – including the core function of ‘Scan to Pay’ feature,
which allows a business to accept card payment by displaying QR code
also, Foloosi has launched its new product ‘Point of Sale’ for small
and medium sized businesses. This dedicated POS system will provide
merchants a wholly complete system including digital checkout eyeing for
a huge potential in the GCC market.
enables businesses to go for a complete digital transformation
including paperless receipt checkout, which helps the society become
Foloosi CEO, Omar Bin Brek says…
the support of our strategic investors, we are accelerating the
development of our products further in this digital world and this is a
great opportunity to improve in the advanced technology experienced by
The Investor Rashed
“I invested in Foloosi because I believe the future will
be cashless and that Foloosi is one of the companies that will emerge
to lead this effort because of its great team and their strong vision.
With dedication and the right strategy, Foloosi can build the cashless
society and will provide payment solutions that serve all kind of
The digital payments sector in 2018 created a market of around 38 billion dollars comprehensively: the numbers in regards to the pattern of digital payments are continually developing with a positive normal yearly rate of 18% and a turnover of very nearly 90 billion dollars assessed by 2023.
These are the information that risen up out of the most recent statistical surveying of the Report Linker organization, breaks down that unmistakably feature the always expanding pattern in respect to the advanced digital payments advertise: the relentless presentation of imaginative advances and the improvement of a continually associated correspondence arrange are the principle essentials for concocting new business openings with brilliant and unique payment strategies.
Speed, solace and innovation are the primary highlights of the new advanced payment frameworks: in a cutting edge and carefully dynamic organization 24 hours per day it is unavoidable that the deals and payment parts will experience radical changes. On the off chance that online deals, web based business and buys by means of Social media speak to the most recent outskirts in the business circle, Digital Payments, ePayments and Mobile Payments are the genuine developments in the payments area.
The “Digital Payments Study Visa” investigate did in 2017 conveys that 68% of clients in Europe utilize digital payments to purchase products or services: the real buyers of digital payments administrations are the Millenials (individuals conceived somewhere in the range of 1981 and 1996) with a level of action of practically 90%.
What are digital payments? When can a payment method be defined as such?
The expression “digital payments” characterizes a wide range of payments made in advanced mode: online buys, electronic wallet installments and web cash exchange arrangements; P2P payments and exchanges made in physical stores utilizing NFC innovation and the contact less POS mode are additionally incorporated into the digital payment class.
Albeit altogether different from one another, a wide range of digital payments have as their essential goal the improvement of the client experience, ensuring the client solace and speed: POS and contactless end up being down to earth arrangements and perfect for activities inside stores, utilizations of online deals and digital transactions are the payment techniques most valued by internet business clients because of a natural, protected and quick service.
Payments via smart phone with e-wallets and applications
Transactions by means of smart phones are without a doubt the most inventive classification inside digital payments and can be isolated into four sorts: Mobile Remote Commerce, Mobile Remote Payment, Mobile Proximity Payment and Mobile Proximity Commerce. The Mobile Remote Commerce classification incorporates all the buying forms that happen by means of cell phone with charge on a payment card or electronic handbag, Mobile Remote Payment demonstrate rather all installments of top-ups, charges, parking garages or bulletins happened through cell phone with charge on e wallet or card. The Mobile Proximity Payment type alludes to installments made at the purposes of offer, approved by cell phones utilizing NFC or QR codes and charged on paper, electronic tote or financial balance, lastly Mobile Proximity Commerce incorporates every one of the administrations supporting the in-store client experience, for example, approval of coupons or loyalty services.
Digital payments- Advantages
Digital payments offer multiple innovative solutions compared to the classic payment with cash, we discover what are the points in favor of digital payments:
Security and protection inclusion
Most digital payments offer the client a substantial protection inclusion for the merchandise bought on the web: much of the time it is conceivable to get speedy discounts if there should arise an occurrence of item returns and discounts legitimate in case of a cheat. The protection guidelines and data security frameworks are progressively increasing more certainty from shoppers who incline toward online buys over physical buys.
Rapidity and simplicity
Online shoppers are searching for speed and effortlessness in their acquiring techniques: Digital payments can continually advance themselves, ensuring security, speed and solace to the client who utilizes them.
Internationalization of payments
With the utilization of digital payments there are no trade issues: it is conceivable to go in any nation by paying through your charge card or cell phone on account of the universal digital payment circuits.
Would you like to develop your business and improve your business results?
Fintech is booming in the Middle East and North Africa (MENA) as regulators and government agencies in countries including the United Arab Emirates (UAE), Bahrain and Saudi Arabia are pushing for innovation in the financial services industry to improve financial inclusion and keep up with international counterparts.
As fintech innovation continues to grow in importance in MENA, a
growing number of events and conferences are being organized in the
region this year.
Here are the most anticipated fintech and digital finance events in MENA in the coming months
22nd MFC Annual Conference
May 29 – 31, 2019
TITANIC DOWNTOWN BEYOĞLU hotel, Istanbul, Turkey
Running from May 29 to 31, 2019, the 22nd MFC (Microfinance Centre) Annual Conference
will tackle the practical side of digitalization in the financial
inclusion sector through case studies, trend analysis and discussion of
emerging best practice.
This year, the theme will be “Demystifying Digital in Microfinance” and will include a full range of workshops, panel discussions and side meetings to explore different aspects of the digitalization in financial inclusion, including agile ways of working, developing staff digital competency, digital client experience, non-credit digital products, regulatory issues connected with digitalization, financial services for migrants, digital tools for improving financial health, fintechs and financial inclusion, and more.
Token Fest 2019
June 3 – 4, 2019
David InterContinental Hotel, Tel Aviv, Israel
Token Fest promises
to be an exclusive, two-day networking event focused on the business
and technology of tokenization. Attendees will gain a wealth of insights
and information about the state of the token-based economy while
networking with over 2,500 senior level decision makers.
Topics covered during the event will include applied cryptoeconomics, token design, token trading and the future of digital assets, the structure and dynamics of security tokens, ICO blueprint for token crowdfunding, commercialization of blockchain platforms, multi-industry case studies of decentralized platforms, obstacles to mainstream adoption, and more.
June 12 – 13, 2019
Port of Beirut, Downtown, Beirut, Lebanon
This year, Arabnet will be celebrating its 10-year anniversary, a decade since it began its journey setting the ground for digital business and entrepreneurship in the MENA region.
To date, the brand has organized 25+ events in Beirut, Kuwait, Dubai,
and Riyadh, released 20+ in-depth reports on the different sectors of
the MENA ecosystem, and provided up-and-coming startups with a chance to
grow and reach high levels of success through our competitions.
Arabnet Beirut 2019
promises to be bigger than ever, a celebration of innovation gathering
3,000+ corporate executives, government leaders, and entrepreneurs under
The buzzing event is set to bring together 250+ experts and speakers
from around the globe, covering a range of topics and will include the
Launchpad for startups and investors, Ad/Edge for digital media and
advertising, and Finverse for digital banking and fintech.
Finverse will explore the latest trends and opportunities in fintech and banking innovation, diving into chatbots and robo-advisors, big data, blockchain, and the practical opportunities available for banks and financial services providers.
June 12 – 13, 2019
Gulf Convention Centre, Bahrain
InsurByte aims to be the insurtech knowledge-exchange platform in
Asia and the Middle East. The event is expected to bring together over
150 companies participating from over 25 countries who will be
interacting and showcasing the latest initiatives, innovations and
applications related to the insurance industry.
Building on the success of the 2017 conference, InsurByte 2019,
in strategic partnership with Bahrain Insurance Association and
the Bahrain Institute of Banking & Finance, will provide a platform
that fosters synergies among market players to find solutions and
promote innovative insurance practices in a collaborative, open and
The conference will host keynote speeches, panels, fireside chats, show and tells, startup pitches, investor sessions, workshops, network sessions and case studies from entrepreneurs, innovation labs, venture capitalist and insurance professionals.
Future of Finance and CFO Summit
June 17 – 18, 2019
Grosvenor House, a Luxury Collection Hotel, Dubai, UAE
The Future of Finance and CFO Summit
is set to bring together the region’s top CFOs and senior finance
professionals to discuss and address challenges and their key
initiatives helping shape their businesses successfully.
The summit aims to act as a platform to gain unparalleled insight on
cost control strategies through access to a global expert speaker
faculty, hear from the leading senior finance experts and discuss the
future of the finance industry by looking at what’s operational
efficiency and change management.
Participants will also get to learn more about the real value of AI, analytics and other innovative technologies in the finance industry and how it can make operations more efficient and achieve cost control, and much more
Seamless North Africa 2019
June 17 – 18, 2019
The Nile Ritz-Carlton, Cairo, Egypt
Seamless North Africa 2019,
organized by the Terrapinn, is held under the patronage of the Central
Bank of Egypt and in partnership with the Council of Arab Economic Unity
and the League of Arab States.
The event will feature inspirational keynotes from global innovators who are changing commerce in their companies as well as technology leaders from retail, e-commerce and payments across North Africa. It is set to bring together thousands of professionals and will include an exhibition where leading solution providers will showcase a wide range of new technologies.
The event will explore the role of digital assets and stablecoins, looking at how they can revolutionize financial services globally to improve transparency and accessibility, as well as the latest proof-of-concepts by financial institutions in the region. It will also address how to overcome hurdles around ecosystem maturity to implement the technology, and participants will get to hear from a range of central banks and free zone regulators on their views on blockchain in the Middle East to help financial institutions adapt and collaborate.
ATMIA Middle East 2019
June 25 – 26, 2019
Shangri-La Hotel, Dubai, UAE
The ATMIA Middle East 2019 conference will focus on global trends in next-gen ATMs and innovations in digital banking.
The ATM-dedicated conference will offer delegates and exhibitors the opportunity to share experiences and insights with their peers and industry experts from across the Gulf, Middle East and surrounding regions.
Fintech Summit Middle East
June 26, 2019
Intercontinental Hotel Amman, Jordan
Fintech Summit Middle East
will take place on June 26, 2019 in Amman Jordan, and promises to bring
together more than 300+ industry leaders, business decision makers,
tech innovators , business leaders and disruptive technologists,
regulators and academics who are shaping the future of banking and
financial services by driving a technological revolution in the industry
across the Middle East.
The summit will discuss the latest disruptions and opportunities across the fintech landscape, covering topics including blockchain, online payments and digital banking. This one-day event will focus on fintech with a range of programming, including panels, off-sites and networking opportunities.
June 26 – 27, 2019
Avenue Convention Center, 1 Hasharon St. Airport City, Israel
is an international annual conference on fintech taking place in
Israel. This year, Fintech Junction is expected to bring together 1,500+
professional attendees from Israel and from around the world including
CXOs, entrepreneurs, investors, innovation and fintech leaders from
leading startups, banks, financial institutions, hubs, accelerators and
The event will cover the latest and hottest trends shaping the future of financial services, including open banking, blockchain, cryptocurrencies, ICOs, regulation, cybersecurity, AI, P2P platforms, startups and venture capital and much more.
Oman Islamic Fintech Forum 2019
June 26 – 27, 2019
Oman Islamic Fintech Forum 2019 (OiFF2019)
aims to become the exclusive Islamic fintech reference in Oman. This
event will bring industry experts from various fields of expertise
including regulators, bankers, entrepreneurs, investors, and IT experts
to share their experiences and insights in developing the fintech
ecosystem for Islamic finance in Oman.
OiFF intends to set the stage in the Middle East for Islamic fintech experts to meet and share their expertise in order to assess Oman’s potential in embracing Islamic fintech to promote economic growth and develop the industry of Islamic finance.
Saudi Fintech Forum
Riyadh, Saudi Arabia
The Saudi Fintech Workshop
is set to bring together business leaders and technology innovators to
collaborate on the re-invention of technologies, processes and products
through digital transformation. The event will explore how to increase
efficiency and agility with operational excellence, while creating
customer-obsessed experiences that grow revenue and re-invigorate your
business. It will include case study presentations and panel
The workshop is designed to host 100+ senior professional from banks,
insurance companies, brokers, bancassurance, and fintech companies to
discuss their strategies for digital transformation. It will address the
key issues of financial transformation and innovation by bringing on
board expert speakers from the industry to address and provide updated
information and solutions to the challenges facing the industry.
Key topics to be covered include blockchain technology, mobile, the future of fintech in Saudi Arabia, the Internet-of-Things, machine learning, artificial intelligence, and more.
9th Annual Middle East Banking Innovation Summit
September 3 – 4, 2019
Jumeirah Emirates Towers Hotel, Dubai, UAE
The Middle East Banking Innovation Summit claims to be the largest
banking technology platform in the region, bringing together banking
leaders, fintech experts and over 450 senior experts and leaders to
discuss the future of banking.
The Middle East Banking Innovation Summit 2019 will focus on various disruptive technologies, new banking regulations and emerging key trends impacting this sector. The must-attend summit will explore the latest developments in the banking industry, with the sole purpose of emphasizing the impact of technology and innovation in this sector.
Fintech Abu Dhabi
October 21 – 23, 2019
Abu Dhabi National Exhibition Centre, Abu Dhabi, UAE
Fintech Abu Dhabi
is a leading fintech festival in MENA that’s set to bring together this
year 5,000 influencers and innovators who are pioneering the new wave
of innovation across financial services.
Building on the success of the previous two editions of Fintech Abu
Dhabi, ADGM has partnered with Unbound, a global innovation ecosystem
builder with a successful track record of creating innovation events
around the world.
This third edition will explore the next frontier of fintech and innovation and intends to be the meeting point for the global fintech community in 2019, featuring many country delegations, a new global challenge format, a Fintech World Tour, the inaugural Fintech Abu Dhabi Awards for Excellence and a showcase of the world’s most promising fintech startups and scaleups.
Enterprise Fintech Summit
October 28 – 29, 2019
The Enterprise Fintech Summit, taking place on October 28 and 29, 2019 in Dubai, will host more than 600 leading banking, financial services and insurance (BFSI) decision maker across Middle East. These will privately meet to discuss sector transformation and disruptive topics such as banking 2025, digital DNA, regtech, micro-financing, artificial intelligence, robotics, financial inclusion, blockchain, and real-time data analytics.
Finovate Middle East 2019
November 17 – 19, 2019
Finovate Middle East 2019
is set to bring together the region’s fintech community to showcase
cutting-edge banking, financial and payments technology. The event is
set to attract more than 400 senior financial and banking executives,
venture capitalists, press, industry analysts, bloggers, regulators, and
entrepreneurs from across the UAE.
Participants will see the latest fintech innovations demoed live on stage and hear insights from global financial services experts.
The Global Islamic Fintech Huddle 2019
November 25, 2019
The Global Islamic Fintech Huddle
is an international gathering of industry influencers and fintech
visionaries passionate about using technology to drive financial
inclusion in a Shariah compliant and ethical manner.
Featuring a series of high-level panel discussions, demo sessions and networking events, the Huddle is designed to be the epicenter of Islamic fintech ideas and innovation with the primary objective of connecting all stakeholders of the Islamic fintech ecosystem startups, investors, policymakers and intermediaries, to facilitate the exchange of ideas and create new collaborative business opportunities.
December 5, 2019
BlockOn 2019 aims to provide a platform for knowledge exchange that fosters synergies among market players to find solutions, and helps implement and promote innovative blockchain practices in a collaborative, open and transparent manner.
BlockOn 2019 aims to provide a platform for knowledge exchange that fosters synergies among market players to find solutions, and helps implement and promote innovative blockchain practices in a collaborative, open and transparent manner.
BlockOn 2019 will gather the blockchain community to investigate the challenges and opportunities of blockchain technology on multiple perspectives. Live panel discussions will probe deeper into what it takes for blockchain solutions to be successful and how this new and exciting technology can be applied for data integrity, trust and accessibility.
Startup Arabia captures the untold stories of the high-tech entrepreneurs in the Middle East who are creating one of the most vibrant and fertile tech hubs in the world today. The book was written by Amir Hegazi, a life-long entrepreneur, with over 15 years of startup, tech, e-commerce, and digital media experience.
Through a collection of interviews, Startup Arabia touches on the early days of those entrepreneurs and the startups they created. It explores how they got their initial ideas, what challenges they faced and how they overcame them, what lessons they learned from those experiences, and what advice they have for the next generation of Middle East entrepreneurs. They also share what they believe is required to ensure continued development of a startup ecosystem in the region.
Not only did these entrepreneurs conquer the usual challenges of new tech startups; they managed to break from deep-seated tradition and societal limiting beliefs, cut through red tape, and navigate an often unfriendly startup environment.
Startup Arabia provides an eye-opening, refreshing look at the entrepreneurial journey and a much-needed call to action to aspiring entrepreneurs across the region to help shape the future of the Arab world. It was also selected among the top 17 best books for startups worldwide by Book Authority in 2019 https://bookauthority.org/books/new-startup-books
Foloosi is a UAE Fintech startup facilitating consumer-to-business card payments by enabling the business to display QR code, Payment Link and API integrations for the customer to scan & pay
Foloosi ( https://www.foloosi.com ) is a UAE Fintech startup facilitating consumer-to-business card payments by enabling the business to display QR code, Payment Link and API integrations for the customer to scan & pay.
Foloosi offers a complete technically advanced digital solution, which seamlessly connect consumers with businesses to provide actionable flow of events resulting in a fast and secure way of making payments based on QR codes and card networks.
Foloosi enables businesses in the UAE to get paid using QR code technology without the need of POS machine or any additional hardware. While the payment is deducted instantly, the merchant can also receive instant payment notifications.
Mission of Foloosi
World is going faster day by day with the power of digital information & technology. Our mission includes,
To make digitized payments/ transactions throughout UAE reforming the cash payments
To provide easy payments for customers to pay bills, recharge, book tickets, scan and pay etc and make them to enjoy their life
Enables business owners to accept payments without the need of any POS/ swipe machine or any other larger infrastructure
Products of Foloosi
Retailers can accept payment easily from customers just by generating one QR code. Customers can make payment using Scan & pay option. Customers can scan the item QR codes as they shop and can pay within minutes without queuing.
Foloosi technology offers a marvelous solution to the likes of freelancers by enabling them to share payment web links with their clients through multiple means such as email, sms, whatsapp, social networking apps and sites.
Payment link is sending a payment request to get paid instantly.
API documentation for websites is available as an option for merchants who want to accept payments on their own websites.
Businesses can accept payments in their mobile app/ website with Foloosi payment gateway API and customers can pay on merchant’s website.
Enable recurring payment schedule, control the billing cycle and get instant alerts on subscription activity with Foloosi Subscriptions. All to do is to link a plan to the customer.
Foloosi help its merchants to offer customer subscription plans to their customers with automated recurring transactions on various payment modes, through a platform that’s built for automation.
Need of Press Release and target audience
In order to make use of Foloosi- digital payment solution by all the individuals and retailers of UAE we are launching this press release. Our target audience includes from small startups to larger organizations. All can make use of this digital payment solution and enjoy transaction in a quick and easy manner.
Benefits for customers
Enjoy recharges, bill payments at the tap of your fingers
Book tickets for events
Scan and pay to businesses
Secure and easy digital transactions with history
Reward points and Local shopping
Benefits for business owners
Accept every payment
Fast bank settlements
Good success rate
Business growth insights
What Founder says about Foloosi?
Mr. Omar Bin Brek, founder of Foloosi says, “Our aim is to bring innovative payment transactions throughout UAE. We developed Foloosi technology platform in order to make transactions simple, fast and secure and to reform older method of transaction i.e. cash payments and our technological innovation solves the teething problem of processing payments”
DUBAI: Dubai International Financial Centre (DIFC) has signed a
memorandum of understanding (MoU) with professional services company
Accenture, to develop Financial Technology (fintech).
Under the MoU, Fintech Hive at DIFC will collaborate with Accenture’s
Fintech Innovation Labs in New York, London and Hong Kong, to share
resources and knowledge on the latest research and trends in financial
In line with DIFC’s Growth Strategy 2024 and Dubai Vision 2021,
Fintech Hive at DIFC aims to fill a void in the market by giving
financial companies access to state-of-the art technologies to support
their digital transformation.
“What sets us apart is our ability to harness the assets to grow
fintech locally that will ultimately create more jobs, attract
investments and support the economy as a whole,” said Arif Amiri, chief
executive officer of DIFC Authority.
The Fintech Innovation Labs are annual 12-week accelerator programmes
that bring together early-stage financial technology companies and the
world’s leading financial institutions. Globally, the Labs’ alumni
companies have raised more than US$1.07 billion in venture financing
after participating in the programmes.
“In today’s hyper-connected world, this type of alliance is critical for maximising talent development and innovation. With surging demand for fintech solutions and Dubai’s increasing presence on the global financial scene, we are confident that this international collaboration will generate incredible opportunities for the region,” said Sushil Saluja, a senior managing director in Accenture’s Financial Services practice.
DIFC has recently announced that the 2018 programme, which is opening for applications in May, will be expanded to include insurance, Islamic finance, and regulatory technology services. First Abu Dhabi Bank, Arab Bank and Noor Bank will join the programme this year, with returning financial institutions to include Abu Dhabi Islamic Bank, Citigroup, Emirates Islamic, Emirates NBD, HSBC, Mashreq, Standard Chartered, UAE Exchange, and Visa.
Abu Dhabi: The UAE’s fast-growing Fintech and entrepreneurship
development sector is poised to receive a major boost as Abu Dhabi
Global Market (ADGM) collaborates with difference entities, a top
official said on Monday.
The development comes in the context of
the announcement by His Highness Shaikh Mohammad Bin Zayed Al Nahyan,
Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed
Forces, of a Dh50 billion stimulus package to support entrepreneurs,
SMEs and the private sector in their growth and innovation.
at Fintech Abu Dhabi Summit, Ahmad Al Sayegh, minister of state and
chairman of ADGM said officials were in active discussions with the
Department of Economic Development to boost the SME sector.
are also working with Emirates Development Bank on initiatives that will
improve the cost and ease of obtaining bank loans and supporting
businesses through funding.
“This new collaboration augments the
ADGM Tech Start-up licence and framework, which enable innovative tech
start-ups, regardless of industries, to set up at low cost, while having
access to professional services, affordable office solutions, and
funding avenues all at one stop in ADGM,” Al Sayegh said.
rallying the local scene is our partner — Plug and Play ADGM. Together,
we co-create a structured Fintech accelerator platform to support
start-ups and corporates alike.”
To provide SMEs greater access to trade finance and other markets, ADGM is also working alongside the Hong Kong Monetary Authority and Monetary Authority of Singapore, to build a blockchain-based trade financing platform for cross-border trade among the markets, he said.
On the operations of ADGM, he said a
number of banks including BNP Paribas, Citibank, UniCredit and State
Street Corporation, as well as international investment firms such as
Softbank and McKinley Capital, have chosen to establish themselves in
ADGM to expand their presence in Abu Dhabi.
Abu Dhabi Investment
Authority and Mubadala, Abu Dhabi’s sovereign wealth funds, have also
announced their plans to expand their presence and operations in the
ADGM, he added.
“In particular, Mubadala’s announcement to have $1
billion [Dh3.67 billion] of technology investments by 2021 will no
doubt inject new energy into the market and among innovators. Their
decision to move existing or start new operations in ADGM validates our
efforts and strategy as an IFC [International Financial Centre] and
SoftBank Vision Fund
executives of SoftBank said they are working closely with Mubadala in
Abu Dhabi and also with Public Investment Fund in Saudi Arabia to help
the companies, in which SoftBank has invested via its $100 billion
Vision Fund set up in the region.
“We are working with Mubadala
and Public Investment Fund to bring our portfolio of companies, where
relevant, to the region so that they can actually set up local and
regional businesses here and there are a number of our companies that
have globally scalable models,” Faisal Rehman, Middle Eastern regional
office head at SoftBank Investment Advisers, said while speaking at a
panel discussion in the summit.
Mubadala Investment Company made $15 billion commitment to the Softbank Vision Fund, a major technology and innovation focused fund, alongside a consortium of leading investors including Public Investment Fund of Saudi Arabia and Apple Inc, among others.