Digital Payment Update - Open Banking Fuels Fintech Surge in the Middle East

Recent developments in digital payment integration highlight the transformative impact of Open Banking in the Middle East, as detailed in a new white paper by TPAY MOBILE. The document emphasizes how innovative financial technologies, coupled with updated licensing and increased investment, are spurring rapid fintech growth in the region. Despite relatively lower valuations compared to Western markets, the Middle East's strategic position and Open Banking's potential to create seamless digital experiences present significant profit opportunities. These changes are contributing to the expected global increase in digital payment adoption, with digital wallet users projected to reach over 5.2 billion by 2026.

Elsewhere in the market, Postal Savings Bank of China (SEHK:1658) was a standout up 3% and closing at HK$5.42, close to the 52-week high. In the meantime, Corpay (NYSE:CPAY) trailed, down 7.7% to finish the session at $323.25.

Corpay's strategic M&A activity and potential divestitures target rapid growth in Corporate Payments. Discover more about Corpay's expansion strategy in our in-depth narrative.

Best Digital Payment Stocks

• Visa (NYSE:V) closed at $352.85 down 5%.
• PayPal Holdings (NasdaqGS:PYPL) closed at $70.83 down 5.3%.
• SoFi Technologies (NasdaqGS:SOFI) closed at $14.09 down 5.4%.

Key Takeaways

• Navigate through the entire inventory of 200 Digital Payment Stocks including Shinhan Financial Group, Mega Financial Holding and BOC Hong Kong (Holdings) here.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Sources:

• Simply Wall St
• "tpay Releases White Paper on the Transformative Power of Open Banking Across the Middle East" from TPAY MOBILE on GlobeNewswire (published 11 June 2025)

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