Dubai, UAE, June 3, 2024: TPAY, the leading payments provider in the Middle East, Africa, and Turkey (META), has published a comprehensive white paper detailing the benefits of Open Banking for businesses and consumers through data aggregation. This white paper examines the evolving market dynamics globally and within the Middle East, highlighting the challenges and opportunities ahead.
According to Fintech Galaxy, the Open Banking market in the MENA region, valued at $400 million in 2022, is projected to reach $1.17 billion by 2027 at a 25% CAGR. Alternatively, some forecasts predict a growth to $11.74 billion by 2027 with a 45% CAGR.
TPAY is dedicated to educating our merchant community on the transformative impact of Open Banking. Our goal is to help them strategically position themselves to capitalize on emerging opportunities. We believe that increasing the awareness of Open Banking will foster a dynamic and innovative financial ecosystem, benefiting both the industry and consumers.
Download the White Paper for FREE: Brave New World of Open Banking.