Homegrown cashback rewards platform Znap revealed today its new brand identity, TOTL, as part of an extensive visual and service delivery transformation strategy.The rebranding marks a significant turning point in Znap’s corporate trajectory and underscores the firm’s unwavering commitment to delivering need-driven fintech solutions to consumers and partners in the region.The new look will include a logo refresh, which represents “in our mind” contactless payments with exciting colours – green, which represents growth, health, and tranquillity; purple, which represents creativity, luxury, and wisdom – and attributes that evoke emotions and brand association.The rebrand from Znap to TOTL (pronounced Total) modernises and simplifies brand recall among consumers while delivering solutions that ultimately bring people together and improve lives.According to Uday Rathod, CEO and Co-Founder of the brand, TOTL, which represents payments with Value back (cashback), is an innovative approach that transforms cashback into a seamless and straightforward process for customers and local businesses.“We’ve reached a critical turning point that began with the unveiling of Znap in 2017 – a platform that was at the time solely designed to help consumers upload their billd and earn cash rewards on every product listed in the FMCG sector. However, as business dynamics and consumer preferences evolve, there is a need to move the brand to the next level. By rebranding to TOTL, we are now on a mission to help consumers get value for every Dhiram spent in a way that’s a win-win situation for both business and consumers,” said Uday.Despite the growing competition within the industry, TOTL has been making meaningful strides in the region. From 2021 until now, TOTL has seen exponential growth, with transactions surging by over 100X thanks to the increased cashback utilisation. Moreover, boasing an impressive customer return rate exceeding 83%, the company has experiences remarkable progress.Driving loyalty and salesOver the last few years, the cashback rewards industry has become an integral part of most businesses’ growth strategy in the UAE and regionally, as the concept continues to help homegrown retailers drive customer loyalty and increase sales. According to research firm Statista, the global cashback industry is expected to be worth more than US$200 billion a year by 2024, with participating retailers growing their revenue up to two and a half times faster than competitors who do not use them.On its part, the United Arab Emirates (UAE) has been experiencing a ballooning adoption of loyalty programs by businesses of all sizes, led by e-commerce platforms increasingly tapping into loyalty programs to boost repeat purchases and drive revenue growth. With its loyalty market, which includes cashback and rewards programs, poised to grow by over 12 per cent annually to reach US$1,423.7 million in 2023, the market is expected to increase from US$1,269.7 million in 2022 to reach US$2,214.5 million by 2027.Before the rebrand, Znap had partnered with over 600 businesses and with the new brand outlook, the company is now expected to aggressively into other untapped markets, including Abu Dhabi, Ajman, and Ras Al Khaimah, in a bid to tap different potential categories such as food and beverages, beauty and wellness, optical floral stores, pet care and more.

Magdi Moussa and El Abiad founded their innovation studio, IMMRSV, in 2017, focusing on edtech and fintech. Today, the studio is at the forefront of various edtech initiatives, collaborating with well-known brands like Udacity, Meta, UNDP, the African Union, Misk Academy, ITIDA, and the Saudi Central Bank. This year, IMMRSV gained significant recognition by securing a spot on the Forbes 30 Under 30 list for the Middle East.In an exclusive interview with Adgully Middle East, Magdi Moussa, the CEO of IMMRSV and a brands builder, expressed his joy about being featured on the Forbes 30 Under 30 list alongside his friend and brother, El Abiad. During the interview, Moussa also provided insights into the future plans for IMMRSV and discussed the anticipated success of the studio. Excerpts:Congratulations on being listed in Forbes 30 Under 30 Middle East with IMMRSV. Did you anticipate being listed this year with your brother? How does it feel now?The recognition in Forbes 30 Under 30 Middle East was unexpected. My wife was behind the nomination, and the news came as a surprise. It feels good and provides confidence, but it also signals new challenges and a fresh journey ahead. Our next journey is to build a creative unicorn through Arab and African talents.Could you please share your professional journey with us?I am a #BrandBuilder, renowned for transforming the landscape of edtech initiatives in the region. Recently, I have garnered additional acclaim by securing a spot in Forbes 30 Under 30 at the age of 27.As a creative entrepreneur and marketing strategist, I specialise in brand innovation and crafting marketing strategies for global initiatives, with a primary focus on #edtech and #fintech in Africa.With over seven years of rich experience, I have played a pivotal role in developing and launching more than 50 brands. My expertise extends to spearheading marketing efforts for regional programmes supported by esteemed organisations such as the World Bank, UNDP, African Union, Meta, Udacity, Intel Nervana, Drosos Foundation, and others.My role as the Growth Marketing Manager at Udacity for Government in MEA showcased my ability to lead marketing initiatives and construct brands tailored to meet the unique requirements of government entities.Recognized as one of the most distinguished young entrepreneurs under 22 in Africa by the African Leadership Academy in 2017, my recent listing in Forbes 30 under 30 at the age of 27, further underscores my contributions to the industry.What inspired you to initiate IMMRSV, and what can you tell us about your venture?Certainly! I initiated IMMRSV to pursue my dream of becoming an entrepreneur, fueled by a passion for the creative industry, particularly in marketing and branding.IIMMRSV, a brand innovation studio specialising in edtech and fintech, has become a trailblazer in these sectors since its inception in 2017. The company, alongside my brother Mohamed-El-Abiad, has played a pivotal role in spearheading edtech initiatives for prominent brands, including Udacity, Meta, UNDP, the African Union, Misk Academy, ITIDA, and the Saudi Central Bank impacting around 40M people across the Middle East & Africa.You and Mohamed-El-Abiad started IMMRSV at a small scale. What was your aim, and has it been achieved?We launched IMMRSV in 2016. Initially, our goals were not entirely clear, but we aspired to become one of the largest marketing agencies in the region. While we have made significant progress without any capital or investments till now, our company continues to evolve, and there's still a long way to go.The Middle East has emerged as a startup hub in recent years. What are your views on this, and what attracts startups to the UAE?The Middle East's emergence as a startup hub is exciting, driven by factors such as a supportive ecosystem, access to capital, and a growing market. The UAE, in particular, attracts startups due to its strategic location, infrastructure, and government initiatives fostering innovation. And now, the KSA is booming massively achieving their 2023 vision to became one of the strongest business hub not only in the region but also in the world and all of these opportunities and investments fuels startups with many opportunities to scale, pivot and innovate to fit our local markets.Also, the economical challenges our region faces will affect the ecosystem as the strongest startups with agility to survive and grow massively.As a brand innovation studio, IMMRSV provides branding, marketing, and tech solutions for edtech and fintech companies. Which companies have benefited so far?Several companies have benefited from IMMRSV's services, including Udacity, the African Union, Meta, Intel, Total Energies, UNDP, Drosos Foundations, Dubai Future Foundation, and various government entities. Additionally, many medium and small-scale innovators have leveraged our expertise.After achieving 30 under 30, what is next in line? What are your future plans regarding IMMRSV?Our future vision to build a creative technolog unicorn in the regionPlease share your perspectives on the current state of AI, and could you also provide insights into your predictions for the future of AI?AI is a transformative force, driving innovation across various industries. Looking ahead, I anticipate further advancements in AI, shaping industries, improving efficiency, and contributing to societal progress. Our key opportunity to train ourselves in being AI powered studios and trying to build our own solutions using AI as well to help the human talents becoming more efficientHaving accomplished this at a young age, what other goals do you have on your bucket list, and what is your strategy for moving forward?Perhaps making it to the billionaires' list is on my bucket list. That is what everyone dreams of! However, moving forward, I plan to continue scaling IMMRSV, exploring new opportunities, and contributing to the evolution of the creative industry and scaling more in the region.

The MENA Fintech Association, the premier not-for-profit organization dedicated to serving fintech startups and established players across the Middle East and Africa, is excited to announce launch of their new Sustainable Fintech Report 2023The MENA Fintech Association, founded in 2018, known for its global recognition as one of the top 4 fintech groups, unveils its groundbreaking Sustainable Fintech Report 2023. This report features insights from leading companies at the forefront of innovation, including Paymentology, Paymob, Mastercard, META, Heriot Watt University, The Entertainer, KARM Legal, M2P Fintech, BPC Fintech, Klarna, Mamo, Rival, Codebase Technologies, Communique, Marshal Fintech Partners, Themis, and Green Digital Finance Alliance.Key Highlights:Innovative Approaches: Explore how leading fintech companies are adopting innovative approaches to drive positive change within the financial industry, blending technology with sustainable practices.Collaborative Initiatives: Learn about collaborative initiatives between industry leaders, institutions, and supporting companies, including DIFC, Central Bank of Egypt and ADGM, in promoting responsible innovation and fostering a resilient and environmentally conscious future.Industry Insights: Gain valuable insights into the latest trends, challenges, and opportunities in sustainable fintech, shaping the discourse around responsible financial practices.Academic Contribution: Heriot Watt University's academic contributions enrich the report, offering a well-rounded perspective on sustainable fintech practices.Nameer Khan, Chairman MENA Fintech Association stated the following, "For the MENA Fintech Association, sustainability is not just a concept; it's a commitment to shaping the future of finance responsibly. The Sustainable Fintech Report 2023 reflects our dedication to fostering innovation and collaboration. As we navigate the intersection of finance and technology, we believe that a sustainable future is not just desirable – it's essential. Through this report, we invite industry stakeholders to join us on this transformative journey towards a resilient and environmentally conscious financial landscape."Read the Report: https://bit.ly/3TC2kQr

EVOPS Marketing & PR, a trusted provider of marketing and PR services in the Middle East and Central Asia, participated in the Career Expo organised by the University of Birmingham Dubai yesterday. The event drew over 300 students seeking internship and work placement opportunities. The successful engagement of EVOPS Marketing in the Career Expo underscores the agency’s commitment to fostering new talent and staying at the forefront of the rapidly evolving marketing industry.EVOPS’ station was a hive of activity as students inquired about the internship and training opportunities available at the company’s various AI-enabled marketing services ranging from e-commerce, website and app development solutions to events management, branding, market research, PR and social media.“We were glad to see such a strong interest in our internship and training programs, and grateful to the University of Birmingham Dubai for giving us the chance to participate in such a pivotal event,” said Hina Bakht, Managing Director of EVOPS Marketing & PR.She added, “At EVOPS, we believe in the transformative power of training and internships. They are not just about acquiring skills; they are about shaping futures, igniting passions, and building the leaders of tomorrow. In today's dynamic and fast-paced business environment, artificial intelligence (AI) has emerged as a game-changer, revolutionizing various industries including marketing. We were very impressed by the quality of the students we met and are confident that they have the potential to make significant contributions to our company and the industry.”As a reputed service provider in multiple sectors including FinTech, Finance, Technology, Travel & Tourism, Hospitality, Healthcare, Retail, Beauty & Fashion, EVOPS Marketing & PR is committed to nurturing the next generation of marketing and PR professionals.Hina believes with AI enabled marketing tools, businesses and professionals can achieve unprecedented levels of efficiency and effectiveness. “The impact of AI, with its ability to drive efficiency, personalization, and ultimately, business growth is being widely recognized. Its ability to analyze vast amounts of data, identify patterns, and generate actionable insights empowers businesses to make data-driven decisions and drive impactful marketing strategies.”

Mastercard, a global technology company in the payments industry, has signed a memorandum of understanding (MOU) with Ottu, a prominent fintech player in the Middle East region. This pioneering partnership is primarily focused on Ottu's integration of Mastercard Gateway, enabling a range of local payment methods in Kuwait, Qatar, Bahrain, and Oman.Mastercard Gateway offers advanced payment processing and fraud prevention technology to acquiring banks, merchants, micro-merchants, and technology partners. It provides its partners with the reach, security, and innovation to compete in the world of digital payments.Ottu provides an Online Payments Management Solution (OPMS) designed to streamline online payments, crafted to optimize online payment processes for enterprises across a wide spectrum of industries. Ottu’s solution also seamlessly connects various online sales channels and payment methods, harnessing Ottu's expertise in building an efficient ecosystem.Through this partnership, Ottu merchants can tap into these local payment methods through a streamlined integration, thereby bridging the gap between international payment networks.Talal AlAwadhi, CEO of Ottu, stated, "Our partnership with Mastercard Gateway is more than a strategic alliance. It's a vision for integrating global technological might with regional transactional traditions, ensuring the Gulf's payment ecosystem is robust and resonant with its users."Maria Parpou, Executive Vice President, Mastercard Gateway, said: “At Mastercard, we are committed to partnering with innovative fintech companies such as Ottu to bring advanced payment solutions to the region with the aim of fueling the growth of the digital economy. Mastercard Gateway offers a single connection to help local merchants accept payments globally, facilitating secure and seamless transactions that surpass customer expectations.”

Global – XS.com, the global FinTech and financial services provider, has today announced that it has introduced the XS Prepaid Mastercard along with XS Cards Mobile App fully integrated into the XS Client Portal in an effort to make the entire funding process smooth and simple.According to an official press release, the global multi-asset broker has partnered with Gate to Pay, a pioneering company in the FinTech and PayTech sector, to launch the new XS Prepaid Mastercard & XS Cards Mobile App.The XS Prepaid Mastercard & XS Cards Mobile App have several exclusive features and will enable traders and partners to track their transactions on their mobile phones.Commenting on the latest announcement, Mr. Wael Hammad, Chief Commercial Officer (CCO) at XS.com said:We are excited to introduce such an advanced payment tool, which will make the entire funding process for traders and partners very smooth and simple. At XS.com, we are committed to continuous improvement in all aspects of our services, and we constantly put all our efforts to ensure a seamless funding process, and efficient and secure handling of client’s funds. Based on our understanding of the complexities of e-payments globally and of the specific needs of each local market, we believe that XS prepaid Mastercard card will be an important milestone in our journey to provide the traders globally with an exceptional trading experience.The multi-award winning broker has accelerated the expansion of its product and services since the start of 2023. Recently, the company has introduced its new carefully crafted account types designed with varying features and advantages to cater to traders of all levels.Rasha Asfour, Gate to Pay’s General Manager, added "We are honored to partner with XS.com and contribute to elevating their services, enhancing the user experience for their global client base. Through our offerings, we aim to empower partners to offer digital banking products and solutions for their clients. XS.com, a global industry leader, remains dedicated to continuous improvement and innovation, setting new standards and benchmarks within the sector."XS.com has recently been recognized with a range of awards that have recognized their mission to empower traders with the knowledge and tools they need to thrive in the dynamic world of trading.

Hub71, Abu Dhabi's global tech ecosystem, has welcomed 23 new startups as part of its latest cohort, having collectively raised over $53 million in funding. Following a rigorous selection process, the successful startups will enter Hub71’s new Company Building Program and benefit from up to AED 250,000 worth of in-kind incentives and AED 250,000 in cash for equity. High-performing startups from the latest cohort will also be eligible to receive a top-up of up to AED 250,000 in exchange for additional equity, after one year.Hub71 received a 107 per cent increase in applications from over 100 countries, reinforcing Abu Dhabi’s increasing global appeal as an innovative destination of growth for the world’s leading entrepreneurs. The new cohort comprises tech startups hailing from countries across the region, including the UAE, Egypt, and Saudi Arabia, as well as companies from the UK, Canada, India and Armenia, which will establish a presence in Abu Dhabi. Additionally, around 40% of the startups in the latest cohort are from the US. This reflects the growing interest from mature tech hubs in Abu Dhabi’s favorable innovation ecosystem. Operating in 11 diverse industries, the startups will support the advancement of sectors aligned with Abu Dhabi’s strategic economic priorities, including FinTech, ClimateTech, HealthTech and EdTech.Seven startups in the cohort will join Hub71+ Digital Assets, the specialist ecosystem focused on unleashing the growth potential of Web3 and digital assets. Startups in Hub71+ Digital Assets can tap into a network of 13 dedicated partners, including leading digital asset exchanges, global technology providers, venture capital funds, blockchain platforms and other commercial and investment opportunities required to scale. Startups joining Hub71+ Digital Assets include UK headquartered Avantgarde Finance which has raised $5.5 million in funding and provides a platform for digital asset investment managers to plug into, launch their strategies and grow at scale.With a growing focus on the potential of innovation and technology in supporting climate action in the UAE, Hub71 selected two ClimateTech startups that developed innovative technologies helping to shape a more sustainable future. Acquai, which has raised $1.5 million (AED 5.5 million), is a software and hardware service company delivering data from waterways using 3D printed, bio-inspired fishlike drones. Meanwhile, Carbonsifr is a UAE founded climate tech platform enabling businesses to take tangible climate action through their climate-tech solutions such as emissions calculation engine, AI-based reduction platform and checkout tool to engage consumers on their daily.Ahmad Ali Alwan, Deputy CEO of Hub71, said: "With each cohort, we are noticing increasing interest from high-growth startups worldwide seeking to establish their businesses and expand from Abu Dhabi. Tech entrepreneurs recognize the distinct advantages of setting up their companies in the UAE capital, which provides a favorable environment for developing and marketing innovative products and services that can transform the business world. By attracting startups with immense growth potential, Hub71 is building on its powerful community of visionary entrepreneurs who will pave the way for the future of innovation.”In addition to a customized three-month course to receive expert mentorship, tailored advice and critical support, startups joining Hub71 will also gain access to a broad network of corporate, government, investment, and talent partners operating within Abu Dhabi’s technology ecosystem, significantly heightening the prospects of securing commercial deals, investment and market growth opportunities.The 23 startups selected to join Hub71’s 13th cohort:AlGooru is an online service that connects students from various age groups with private on-demand tutors.Anecdote is a customer analytics platform that delves into each customer feedback ticket, drawing from various sources to deliver valuable insights that companies can use to make better product decisions.Aquaai is a software and hardware service company delivering data from waterways using 3D-printed, bio-inspired fishlike drones.Atiom is a behavioral tech platform and mobile solution for deskless teams, primarily focused on creating real business value for large enterprise organizations.Autobia is a B2B marketplace leveraging data to solve the infrastructure and after-sales challenges in the automotive industry.Avantgarde Finance provides digital asset investment managers a platform to plug into, launch their strategies, and grow at scale.BioSapien is a validated FDA drug delivery platform that can slow-release drugs over a specified period into tumors directly.Carbonsifr is a platform that neutralizes the carbon footprint across businesses and industries.ClearQuote Technologies utilizes computer vision to assess vehicle images automatically and identify and evaluate defects or damages.CrunchDAO leverages the power of Web 3.0 collective intelligence to create a next-generation financial insights provider.Digital First AI offers a solution to the marketing industry by providing an all-in-one AI integration.Droplinked by FlatLay is a Web 3 commerce enabler for consumers and enterprises, bridging the gap between Web 2 and Web 3 capabilities with no-code, headless solutions.FlapKap is a user-friendly tech funding platform that integrates with e-commerce, social media and advertising platforms, marketplaces, payment gateways, and Enterprise Resource Planning (ERPs). Goodable uses AI to deliver mental health programming to any screen or device. Its platform is clinically proven to improve employee mood, health and productivity by up to 96%.Lemonade Fashion is a video-first fashion and beauty platform. The social platform lets users shop directly from the video and check out from the same integrated system.Momint enables accessible funding and trade of solar photovoltaic1 (PV) investments with a built-in digital wallet, specializing in putting real assets and legal contracts on the blockchain.Netki is an identity validation provider with deep expertise in high-scale and high-fraud environments.Overnight Finance is an asset management protocol offering passive yield products based on delta-neutral strategies, primarily for conservative stablecoin investors.Param Labs is a game and blockchain development studio that delivers the highest quality blockchain-integrated games to the masses through player-owned digital assets.PriceOye Technologies is a managed marketplace for consumer electronics at the best prices with a built-in price comparison engine.Retailhub is a platform for direct integrations between retailers and aggregators.Sustainable Planet is an AgriTech company utilizing sustainable technology to combat food insecurity and climate change.Syd is a SaaS platform in predictive/preventative health tech that focuses on improving the life quality of employees as a success strategy from a business to an individual employee perspective.

Manama, Bahrain : stc pay has been awarded in the category of “New product/service launch” at the MEA Business Tech Achievement Awards organized by SAMENA Council. The award is in recognition of the innovative fintech services offered by stc pay, one of the Kingdom’s leading digital wallets.stc Bahrain continues to set benchmarks in the fintech sector by employing the latest tech advancements and addressing the growing need for on-the-go payment solutions. stc pay’s cutting-edge platform empowers users to effortlessly manage their finances, conduct seamless transactions with unparalleled ease. stc pay services have become a vital part of the Bahrain consumer landscape, empowering those with limited financial access in the Kingdom.Commenting on the award, stc Bahrain CEO and stc pay Chairman Eng. Nezar Banabeela said: “We are grateful to receive this prestigious award in honor of our dedicated platform, stc pay, that addresses the growing demand for smarter, faster and more versatile mobile payment solutions. We aim to continue advancing the latest tech developments– shaping the future of digital wallets and financial transactions in Bahrain. We look forward to what is coming next in terms of our fintech services and hope to continue spearheading the nation’s digital transformation journey.”stc pay was officially licensed by the Central Bank of Bahrain in partnership with Khaleeji Bank in March 2023 – as it plays a pivotal role in financially empowering the local community. Within less than one month of its launch, the app has been downloaded more than 50,000 times.

e& money has partnered with Ericsson (NASDAQ: ERIC) for a strategic multi-year partnership to strengthen and expand their fintech platform. Through Ericsson’s leading fintech solution, the Ericsson Wallet Platform, will bolster e& money’s infrastructure, making it more secure and reliable to manage transaction processes effectively.Founded on cutting-edge security technologies and the principles of an open architecture framework the Ericsson Wallet Platform will provide secure and personalized financial services to a wide range of users through a variety of digital channels. The modernization and expansion of the platform marks a pivotal moment in e& money's evolution as it aims to become a financial super app in the region's flourishing fintech sector.e& money empowers citizens and residents in the United Arab Emirates (UAE) with secure, convenient, and swift payment solutions delivered through an intuitive mobile application. e& money extends its services to encompass businesses and individuals from all segments of society facilitating seamless digital transactions and payments. The wallet offers a wide array of services, ranging from international and local transfers, prepaid cards, payment processing and gifting.Melike Kara Tanrikulu, Chief Executive Officer, e& money says: "Our collaboration with Ericsson is aimed at ushering in a new era of fintech reliability. This joint endeavour underscores e& money's commitment to enhancing digital experiences and equipping individuals and businesses in the United Arab Emirates with reliable financial solutions. With Ericsson's support, we aim to set new standards in fintech, transforming the financial landscape in the region."The Ericsson Wallet Platform supports over 400 million registered mobile wallets and processes more than 2.8 billion transactions worth over USD 40 billion every month through communication service providers and financial institutions globally. With open architecture and easy integration, the Ericsson Wallet Platform will enable e& money to discover new revenue streams and expand services as it advances digitization of financial transactions and fosters economic growth in the UAE.   Ekow Nelson, Vice President and Head of Global Customer Unit for e& at Ericsson Middle East and Africa says: "Our partnership with e& money is long-standing with a joint commitment to revolutionize fintech across the United Arab Emirates. We aim to empower individuals and businesses with secure, efficient, and inclusive financial services. Our Mobile Financial Services platform combine the power of mobile communication and financial services and will provide e& money with the tools needed to elevate its capabilities. This will allow e& money to offer easy-to-use and secure next-generation mobile money, digital wallet, and digital payment services. We are committed to supporting e& money in transforming the fintech landscape in the country, driving economic growth, and delivering convenient mobile financial services that are aligned to a digital lifestyle of today’s consumers.”With pioneering technologies and a shared commitment to financial inclusion and well-being, Ericsson and e& money remain committed to delivering secure and innovative solutions that empower and transform the region’s financial landscape.