TechPression

Tag: Innovation

  • Mastercard, NAPS to drive innovation across Morocco’s digital payments landscape

    Mastercard, NAPS to drive innovation across Morocco’s digital payments landscape

    Mastercard and NAPS, a Moroccan fintech company, have initiated a collaboration to develop innovative payment solutions for individuals and businesses. The partnership consolidates the strong historical relationship between the two entities.

    NAPS is on a mission to expand the horizons of digital payments in Morocco. NAPS benefits from the 30+ years of expertise of M2M Group in software for electronic payments and biometric identity.

    As Mastercard’s partner, NAPS benefits from access to its extensive network, expertise and wide-ranging portfolio of products and services powered by innovative and secure technologies.

    In line with NAPS’s long-term strategy, the collaboration will boost the company’s innovation capabilities through Mastercard’s advanced technology and optimize time to market for its upcoming digital offerings.

    Read also: Mastercard Accelerates Card Plastic Recycling

    “At Mastercard, we are committed to supporting a global network of innovators with the aim of building a more accessible and sustainable digital economy. We serve as a trusted partner of pioneering fintech companies across all stages of development, helping them achieve agility and speed. We are delighted to share our technological expertise with NAPS to pursue our common objective of advancing inclusive growth,” said Mohamed Benomar, Country General Manager, MENA West, Mastercard.

    “The partnership with Mastercard will reinforce our position as a market-leading fintech company and support the culture of innovation that is at the core of everything we do. By accelerating the development of digital payment solutions in Morocco, it will also contribute to cementing the country’s status as a premier fintech hub in the Arab world,” said Hassan Ghellab, CEO, NAPS.

    NAPS and Mastercard aim to create new ecosystems of digital services in Morocco to unlock the full potential of digital payments and provide users with an enhanced experience through innovative services in order to promote financial inclusion. These digital ecosystems will enable the development of high-value applications and explore new service opportunities, contributing to innovation and the sector’s digital transformation.

    The CGAP report Fintechs Across the Arab World, issued in December 2020, highlighted Morocco as the third-largest fintech hub among the 22 member countries of the Arab League. High mobile coverage, a large unbanked population, an abundant supply of talent, infrastructure upgrades and government initiatives encouraging the uptake of digital financial services, coupled with enabling regulations, are among the key drivers of growth in this space.

    About Mastercard

    Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

    About NAPS 

    NAPS is a licensed payment institution with Bank-Al-Maghrib and is the Moroccan leader in secure electronic payment services. NAPS innovates daily to make electronic payment methods accessible everywhere for everyone. For individuals, merchants, professionals or businesses, NAPS provides the latest technologies for an innovative and completely secure payment experience. With its innovative POS and e-commerce acquisition services for merchants and its payment card offering for individuals and businesses, NAPS addresses the needs of all users and works to generalize the digitization of services and payments in all sectors and across all aspects of daily life. NAPS is a subsidiary of M2M Group.

  • ARM Labs invites applications for its Innovation Programme

    ARM Labs invites applications for its Innovation Programme

    ARM Labs has announced that the fifth round of its Innovation Programme is now accepting applications. 

    As a leading investment company in Nigeria, ARM is committed to helping the country’s startup ecosystem grow and improve. Also, the ARM Labs Innovation Programme is an intensive support programme that helps chosen startups improve their products, reach more customers, and improve the skills of their teams.

    This increases their chances of being successful. In a statement, the company said, “We are excited to share that applications are now open for the fifth cohort of the ARM Labs Innovation Programme.

    This year, Fintech, Pentech (Pension Tech), Data Intelligence, and Digital Trade startups have been added to the course. The applicants who are chosen will get up to $50,000 in funds, access to modern office space, hands-on help from industry experts, and a network of investors.

    Furthermore, participating in the ARM Labs Innovation Programme offers numerous advantages. Nigeria has one of the busiest startup ecosystems in Africa, with more than 400 active startups. But these startups face a number of problems, such as a lack of money, equipment, and skilled workers.

    Also, the ARM Labs Innovation Programme is carefully made to help startups achieve their goals by giving them all the help, funding, and resources they need.

    Read also: Co-Creation Hub’s $15 million programme includes Nigerian, Kenyan edtech startups

    Benefit for selected Startups for ARM Labs Innovation

    Funding: Startups that do well will get up to $50,000 in funding, which they can use for things like product development, hiring new people, marketing, and growing.

    Workspace: Selected startups will be given state-of-the-art working space that will make it easier for them to get work done.

    Mentorship: Experts in the field will help the chosen startups in a hands-on way. These teachers will give advice and help with important parts of the business, like making products, selling them, marketing them, and raising money.

    Investor Network: The startups that are chosen will have access to a useful investor network, which can help them get more money and grow their business.

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    How to apply for the ARM Labs Innovation Programme

    You can apply for the ARM Labs Innovation Programme if you are a Nigerian startup in FinTech, PenTech, Data Intelligence, or Digital Trade. The application process is easy, and it can all be done online.

     The 5th cohort of the ARM Labs Innovation Programme is now accepting applications, and the deadline is June 15, 2023. Go to ARM Labs’ website and fill out the application form to apply.

    At ARM Labs, we are committed to providing a supportive environment for startups to thrive, and we can’t wait to see the innovative ideas that come out of this year’s cohort. Apply now and take the first step towards growing your startup.

  • Nigeria remains leader in venture Innovation, Investments

    Nigeria remains leader in venture Innovation, Investments

    Niyi Gbodimowo, a member of the Computer Professionals of Nigeria, has stated that because of the Covid-19 pandemic and its demographic, Nigeria has remained a leader in venture innovation and investment in Africa’s economy.

    Mr Gbodimowo made these insights recently when speaking with the media on the country’s Information and Communications Technology sector.

    He emphasised the pandemic’s impact, which provided the opportunity for many young Nigerians to investigate technical advancements that have become critical to the nation’s economy.

    Mr Gbodimowo also stated that the Information and Communications Technology sector’s contribution to the Nigerian economy would continue to grow in the future, owing to the country’s youthful demography.

    He expressed optimism that Nigeria will continue to be a major player, particularly in the technology sector, as it has emerged as one of the top global destinations for venture capital. He also noted that numerous industries, even traditional ones, are investigating how to capitalise on the benefits of Information and Communications Technology.

    Read also: NEDC to use ICT To build capacity for job creation

    ICT improved Nigeria’s investment and talent

    According to Mr Gbodimowo, the Nigerian youth’s active participation in the technology sector has propelled the country to become a hub of innovation. He cited examples of companies that have experienced rapid growth, becoming multimillion and multibillion-dollar entities. He also noted that the sector’s compensation, development opportunities, technical capacity, and financial rewards have attracted more talent and investment.

    Mr. Gbodimowo emphasized that Nigerians are achieving remarkable feats in the technology sector and require an enabling environment to excel further. He noted that the country’s secondary schools and tertiary institutions have laid a strong STEM foundation for young Nigerians, enabling them to make significant contributions to the sector.

    Nigeria and Artificial Intelligence

    Regarding the impact of 5G technology on Nigeria, Mr Gbodimowo predicted that the changes in the next few years would transform the world, making it almost unrecognizable in five years, especially in the field of Artificial Intelligence.

    Mr. Gbodimowo also highlighted Nigeria’s unique advantages that position it to lead the technology sector in Africa with adequate support.

    Mr. Gbodimowo outlined that the necessary support involves establishing the National Centre for AI and Robotics within the National Information Technology Development Agency (NITDA), with the primary objective of promoting AI research and innovation in Nigeria. He emphasised the importance of creating awareness about this support system in Nigeria to enable people to leverage it effectively.

    Nigerian digital bank Alat invites entries for ‘Re-imagine’ project to boost ICT talents

    Nigeria’s incoming govt must evaluate previous efforts in ICT

    Regarding how the incoming administration of President-Elect Bola Tinubu can fulfil his promise of creating jobs and employment opportunities for Nigerians by leveraging the technology sector, Mr Gbodimowo suggested that the first step would be to evaluate previous efforts in this regard.

    He highlighted the significant technological innovations that have occurred in the Information and Communications subsector over the last eight years, resulting in a contribution of over 18 percent to Nigeria’s economy. Mr Gbodimowo expressed optimism that this trend would continue, especially with the Ministry of Communications Technology and Digital Economy taking the lead and agencies like NITDA making their contributions.

    Mr. Gbodimowo pointed out that the significant impact of agencies like NIMC and NCC within the technology sector, which has captured the identity of almost 100 million Nigerians, is a game changer. He emphasised that this development represents a significant milestone for the country as Nigerians now have a clear identity.

    He advised the incoming administration of President-Elect Bola Tinubu to build on the foundation laid by the Muhammadu Buhari administration in the ICT sector over the last 8 years. Furthermore, he urged the administration to ensure that the policy around the recently signed Start-Up Act is precise enough to promote development, economic empowerment, and national sustainability.