What recent regulatory actions support fintech technology adoption in the Middle East and Africa?

Regulatory bodies are advancing frameworks that enable secure data sharing, licensing, and instant payments. The Saudi Central Bank (SAMA) has posted updates around open banking and licensing for payment providers, while the Central Bank of the UAE (CBUAE) continues to highlight enhancements to national payment systems. The South African Reserve Bank (SARB) communicates progress on instant payments modernization and oversight. Together, these actions aim to improve interoperability, reduce transaction costs, and expand merchant acceptance across the region.

Which companies are expanding digital acceptance and merchant services in MEA right now?

Payment networks such as Visa and Mastercard have reported Middle East and Africa collaborations to broaden contactless acceptance, Click to Pay, Tap on Phone, and SME enablement. Acquirers like Network International are extending merchant onboarding in the Gulf and Africa. African platforms including Flutterwave and Paystack are scaling card and alternative payments, settlement speed, and cross-border options for SMEs. Telecom wallets like Safaricom’s M-Pesa continue to reach unbanked consumers and small merchants.

How are open banking and instant payments influencing technology adoption?

Open banking encourages standardized APIs and secure data portability, enabling providers to deliver account-to-account payments and embedded finance with improved personalization. Instant payments reduce latency and unlock new use cases such as request-to-pay, real-time payroll, and instant disbursements. Regulators in Saudi Arabia and the UAE emphasize these pillars, while African markets prioritize interoperability for domestic and cross-border flows. These capabilities help merchants digitize operations and expand access to formal financial services.

What are the main risks for fintech adoption in MEA and how are they being addressed?

Key risks include compliance fragmentation across jurisdictions, cyber threats, and variability in cross-border settlement. Industry bodies suggest standardized data governance, strong KYC/AML controls, and harmonized operating procedures to mitigate fraud and resilience challenges. Payment networks and banks invest in authentication, tokenization, and real-time risk scoring to protect transactions. Coordinated sandboxes and pilots help align stakeholders, while guidance from BIS and FATF supports secure scaling of digital payments.

What is the near-term outlook for MEA fintech adoption in 2026?

Momentum is expected to remain strong due to merchant digitization, API standardization, and real-time payment capabilities. As regulators advance open banking and instant payments, acquirers and fintech platforms aim to reduce onboarding friction and expand tools for micro and small businesses. Telecom wallets and cross-border solutions should deepen regional commerce, especially in high-growth corridors. With coordinated investments and compliance frameworks, adoption is projected to rise steadily, lowering costs and improving access for consumers and SMEs.

Saudi Central Bank Expands Open Banking as African Fintechs Scale Digital Payments

Regulators and payment networks move to accelerate fintech technology adoption across the Middle East and Africa. New licensing, partnerships, and instant payment upgrades aim to boost digital acceptance and cross-border flows.

Published: January 12, 2026 By Sarah Chen Category: Fintech

Saudi Central Bank Expands Open Banking as African Fintechs Scale Digital Payments

Executive Summary

Saudi Central Bank advances open banking implementation alongside new licensing updates for fintechs (SAMA announcements).
Visa and Mastercard announce Middle East and Africa collaborations to expand contactless and SME acceptance (Visa, Mastercard press centers).
African payment platforms including Flutterwave and Paystack scale merchant services and cross-border capabilities across key markets.
Central banks in the UAE and South Africa highlight instant payments and interoperability priorities (CBUAE news, SARB media).

Regulatory Momentum and Infrastructure Upgrades

Regulatory agencies in the Middle East and Africa are prioritizing frameworks to accelerate digital finance adoption. The Saudi Central Bank (SAMA) has published recent updates on open banking implementation and licensing of payment and finance companies, signaling continued progress through December 2025 and into January 2026 (SAMA Open Banking, SAMA News). In the UAE, the Central Bank has outlined ongoing enhancements to national payment infrastructure, including bank-led initiatives that strengthen real-time settlement and data-sharing for financial services (CBUAE Payment Systems, CBUAE News).

Across Africa, regulators emphasize consumer protection and interoperability as key to scaling digital payments. The South African Reserve Bank has continued communicating milestones related to instant payments modernization and market supervision, reinforcing targets for merchant acceptance growth and cross-industry coordination (SARB Payments and Settlements, SARB Media). In parallel, policy dialogues from pan-African bodies and development finance institutions underscore the need for cross-border standards to support remittances and SME commerce (World Bank Financial Sector, African Development Bank Initiatives).

Network Partnerships and Merchant Enablement

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