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According to leading industry research, electronic-payment transactions in the MENA region will register $69 billion by 2020, making it one of the fastest growing and most competitive markets for smart payments technology.
To address the challenges facing the market, more than 1,000 senior decision makers from banks, retailers, leisure, transport, public sector organisations, gaming, telecoms and solutions suppliers will gather for PayExpo MENA at the Intercontinental Festival City Dubai on 5-7 December 2016 to discover the latest ideas, trends and developments in the payments industry.
The event will set the 2017 global agenda for payments and highlight innovations in the region. Conference topics will include payments for empowerment, the latest on the relationship between blockchain and banking, the global FinTech scene, cashless payments, the future of payments and security, authentication and biometrics.
Highlights among these, the sessions on enhancing and encouraging the global FinTech and ecommerce scene will give delegates the opportunity to learn about the mistakes to avoid in providing a platform to support development in the growing world of ecommerce.
As threats are increasing, the security, authentication and biometrics stream will advise on avoiding fraud and ensuring systems are secure through the use of biometrics and maintaining security levels on all POS devices whether that be online, mobile or in-store.
With financial services changing at different rates around the world, the revolutionising mobile financial services and banking around the world strand will spotlight regional developments. For example, the Banco Central del Ecuador will reveal their path to full financial inclusion, while the Pan-African panel debate will discuss how traditional financial institutions are serving the needs of the banked, un-banked and under-banked.
Notable speakers sharing their expertise from across the globe include David Birman of the Bank of Georgia, who will highlight regional strategy to digitally mobilise the unbanked population in a fast urbanising market as part of the payments for empowerment agenda.
With Iranian sanctions being lifted and thus exposure to international markets, Usman Qureshi from Bank Pasargad, will explore the role of established banks in payments innovation through his speaker session Building or Blocked: Are traditional banks going to help or hinder the sector? Also forming part of the Blockchain and banking programme, Jon Matonis from the Bitcoin Foundation, will examine digital currency, a particularly controversial topic in the Middle East, via his discussion Is Cryptocurrency the key to a cashless future and will it be the dominant payment channel for Generation Y?
Other speakers set to share their expertise from across the globe include representatives from banks based in Oman, Kenya, Tanzania, Mexico, Turkey and Nigeria, while expert practitioners from organisations including Uber, Blackberry, Accenture, LEGO and the Russian Electronic Money Federation will deliver invaluable knowledge and experience.
Sammy Tuffaha, of event partner Etisalat, commented: “These are exciting times for the payment industry. The next ten years will reinvent the way we live by changing the way we pay for things. As we experience the latest innovations that are setting the tone for 2017 payments evolution in the MENA region, we must appreciate the vision and efforts that we see in the area. For example, UAE’s goal to become a predominantly cashless society and the increasing penetration of touch-less payments are some of the many benchmarks that need to be reinforced and supported. However, such initiatives will require serious coordination among all industry players and relative entities. Specialized events like PayExpo will help bridge the gap between the various initiatives in the region and instigate the needed synchronization for mass adaptation.’’
The industry must strive towards digital payments enablement via the implementation of FinTech solutions and in conjunction of advanced technology concepts like blockchain and biometrics. This will rapidly lead to cultural transformation of cashless payments and simpler consumer journey across all aspects of the daily life”.
Michael Seaman, event director of PayExpo MENA, said: “This world class conference will unite the payments industry under one roof for two packed days of valuable insights and experiences.”
Registration is now open at: www.payexpo.com/mena/welcome