Latest news with #digitalpayments
Al Bawaba
2 hours ago
- Business
- Al Bawaba
Visa appoints Tareq Muhmood as Regional President for Central and Eastern Europe, Middle East and Africa
Visa (NYSE: V) today announced the appointment of Tareq Muhmood as Regional President for Central and Eastern Europe, Middle East and Africa (CEMEA). In his new role, the established Visa leader will be responsible for leading operations across more than 86 innovative and fast-growing markets. Visa's CEMEA operations today serve more than 1,800 clients from 23 local offices across the Muhmood brings more than 30 years of banking and payments experience to the role. He most recently served as head of Value-Added Services for Visa's Europe region, based in London, and originally joined Visa in 2019 as Group Country Manager for Southeast Asia, based in Singapore. Prior to joining Visa, Mr. Muhmood held senior leadership positions with Ahli United Bank, ANZ and HSBC. Mr. Muhmood will be based in Dubai, and will take on the role effective immediately, reporting to Oliver Jenkyn, Group President, Global Markets, Muhmood succeeds Andrew Torre, who was recently appointed as President of Visa's Value-Added Services business, which has rapidly grown into a $9B global business and has delivered annualized revenue growth of 20% since 2021.'We are delighted to appoint a leader with Tareq's deep experience at the intersection of financial services, technology and high growth markets to lead Visa's fastest growing region and continue our journey to advance the future of digital payments across CEMEA,' said Mr. Jenkyn. 'During the course of his career, Tareq has worked in 13 countries, and brings unique global perspective, world-class leadership and a proven track record partnering with Visa's largest clients across diverse, complex and rapidly accelerating markets.' 'It is a great honor to lead the CEMEA region, and to continue the tremendous progress that has been made in transforming the future of payments, commerce and money movement across so many dynamic markets,' said Mr. Muhmood. 'Having spent more than a third of my career in the region, I am excited by the incredible opportunity to further expand digital payments amongst more consumers, merchants and economies. I look forward to working closely with our outstanding team to enable shared growth with clients and partners across the region.'
Yahoo
7 hours ago
- Business
- Yahoo
Elon Musk Just Turned X Into Wall Street's Newest Rival -- And It's Just the Beginning
X, the platform formerly known as Twitter, is inching closer to becoming a full-blown fintech ecosystem. CEO Linda Yaccarino told the Financial Times that users will soon be able to invest or trade directly on the apppart of Elon Musk's grander vision to turn X into a U.S. version of China's WeChat. That includes everything from peer-to-peer payments via X Money to digital tipping and possibly even credit or debit cards, which could arrive as early as this year. The rollout will begin in the U.S., with Visa onboard as a launch partner, before expanding to other markets. The move comes as X tries to climb out of its post-acquisition slump. Since Musk's $44 billion takeover, advertising revenue has dropped sharply, and the platform has battled both reputational damage and advertiser boycotts. Yaccarino says 96% of pre-acquisition advertisers have returned and expects revenue to rebound to 2022 levels super soon. But not everyone's convinced. Some advertisers remain wary, citing concerns over brand safety, content toxicity, and reports of pressure to spend or face legal action. Research firm Emarketer sees X's 2025 revenue reaching $2.3 billion, up from $1.9 billion last yearbut still far below the $4.1 billion it generated when Musk first took the reins. There's also a tech twist. In March, Musk folded X into his AI startup xAI in a $45 billion deal. Yaccarino believes this will double the engineering horsepower behind the platform and help deliver smarter, real-time ad targeting around trending content. While X may face serious regulatory friction as it pushes into payments and investing, the potential upside is significant. If it works, X could carve out a unique lane that blends trading, tipping, and transacting in one appterritory even Tesla (NASDAQ:TSLA) hasn't touched. This article first appeared on GuruFocus.
Argaam
12 hours ago
- Business
- Argaam
SAMA issues updated rules for issuance, operation of credit cards
The Saudi Central Bank (SAMA) issued the updated rules for the issuance and operation of credit cards. The updated rules aim to reduce costs for customers and enhance disclosure and transparency related to credit card transactions. They also seek to keep pace with ongoing developments and align with the growing variety of credit card products in line with global best practices. The rules include detailed provisions on the issuance and operation of credit cards and increased clarity regarding financial transactions related to the cards. This is in addition to increasing financial awareness among customers, as well as creating innovation-friendly regulatory environment in the financial sector. SAMA also coordinated with global payment companies to review and reduce the costs associated with credit card transactions. This move is part of SAMA's broader efforts to develop and strengthen the digital payments ecosystem and offer diverse payment solutions to both residents and visitors in retail outlets across the Kingdom, in line with Vision 2030.
Yahoo
13 hours ago
- Business
- Yahoo
Elon Musk Just Turned X Into Wall Street's Newest Rival -- And It's Just the Beginning
X, the platform formerly known as Twitter, is inching closer to becoming a full-blown fintech ecosystem. CEO Linda Yaccarino told the Financial Times that users will soon be able to invest or trade directly on the apppart of Elon Musk's grander vision to turn X into a U.S. version of China's WeChat. That includes everything from peer-to-peer payments via X Money to digital tipping and possibly even credit or debit cards, which could arrive as early as this year. The rollout will begin in the U.S., with Visa onboard as a launch partner, before expanding to other markets. The move comes as X tries to climb out of its post-acquisition slump. Since Musk's $44 billion takeover, advertising revenue has dropped sharply, and the platform has battled both reputational damage and advertiser boycotts. Yaccarino says 96% of pre-acquisition advertisers have returned and expects revenue to rebound to 2022 levels super soon. But not everyone's convinced. Some advertisers remain wary, citing concerns over brand safety, content toxicity, and reports of pressure to spend or face legal action. Research firm Emarketer sees X's 2025 revenue reaching $2.3 billion, up from $1.9 billion last yearbut still far below the $4.1 billion it generated when Musk first took the reins. There's also a tech twist. In March, Musk folded X into his AI startup xAI in a $45 billion deal. Yaccarino believes this will double the engineering horsepower behind the platform and help deliver smarter, real-time ad targeting around trending content. While X may face serious regulatory friction as it pushes into payments and investing, the potential upside is significant. If it works, X could carve out a unique lane that blends trading, tipping, and transacting in one appterritory even Tesla (NASDAQ:TSLA) hasn't touched. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
13 hours ago
- Business
- Yahoo
Elon Musk Just Turned X Into Wall Street's Newest Rival -- And It's Just the Beginning
X, the platform formerly known as Twitter, is inching closer to becoming a full-blown fintech ecosystem. CEO Linda Yaccarino told the Financial Times that users will soon be able to invest or trade directly on the apppart of Elon Musk's grander vision to turn X into a U.S. version of China's WeChat. That includes everything from peer-to-peer payments via X Money to digital tipping and possibly even credit or debit cards, which could arrive as early as this year. The rollout will begin in the U.S., with Visa onboard as a launch partner, before expanding to other markets. The move comes as X tries to climb out of its post-acquisition slump. Since Musk's $44 billion takeover, advertising revenue has dropped sharply, and the platform has battled both reputational damage and advertiser boycotts. Yaccarino says 96% of pre-acquisition advertisers have returned and expects revenue to rebound to 2022 levels super soon. But not everyone's convinced. Some advertisers remain wary, citing concerns over brand safety, content toxicity, and reports of pressure to spend or face legal action. Research firm Emarketer sees X's 2025 revenue reaching $2.3 billion, up from $1.9 billion last yearbut still far below the $4.1 billion it generated when Musk first took the reins. There's also a tech twist. In March, Musk folded X into his AI startup xAI in a $45 billion deal. Yaccarino believes this will double the engineering horsepower behind the platform and help deliver smarter, real-time ad targeting around trending content. While X may face serious regulatory friction as it pushes into payments and investing, the potential upside is significant. If it works, X could carve out a unique lane that blends trading, tipping, and transacting in one appterritory even Tesla (NASDAQ:TSLA) hasn't touched. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
