Category
🗞
NewsTranscript
00:00Five years have passed, and especially after the pandemic, we have seen a new way for people to deal with e-payment.
00:09One of the simplest things is that today, for example, non-contact payments have moved from 3% in the region to 30%.
00:21In countries like Saudi Arabia, for example, more than 90% of the payments made by people are non-contact.
00:31This shows that technology has affected.
00:35Of course, the pandemic had an impact, but when we talk about contactless payments,
00:46there is technology behind it, which is based on what we call tokenization,
00:53which converts the 16 digits you have on your card into a secure token,
01:02which makes it easier for you to make payments, and certainly safer.
01:08Ms. Layla, what about the challenges faced by e-payment in the region?
01:12And how does the labor market deal with these challenges in general?
01:17I am talking about the two main challenges we are facing today.
01:21The first one, which we see the most in the region, is financial inclusion.
01:28Of course, we are finding that the percentage of financial inclusion has not yet reached the percentage we see in other countries.
01:35For example, in countries like Jordan, it has reached 40%.
01:40In Egypt, it has reached 20%.
01:43Globally, it has reached 50%.
01:46Of course, financial inclusion is very important.
01:49We see financial inclusion from the perspective of individuals and also from the perspective of institutions,
01:53especially small and medium-sized institutions, which today make up more than 90% of the economy.
01:58In fact, 90% of the economy is made up of individuals.
02:04So, it is very important today to work on this financial inclusion.
02:07We are working on two things in this regard.
02:11First, awareness.
02:13Awareness is very important.
02:15Financial education is very important, even from a young age, for business owners.
02:24We are working on this through our partners, whether they are government or non-government,
02:32so that we can reach more people with this financial awareness.
02:37The second challenge, which is the most global challenge we are facing today, is cybersecurity.
02:43Cybersecurity and fraud are very important today.
02:49The more we protect ourselves, the more we find that the parties that want to harm us are also developing more and more.
02:59So, in terms of cybersecurity, we also have a very big focus today,
03:05especially in the development of the tools that we provide to our partners and individuals for protection.
03:16Awareness is also very important, because we are seeing a lot of fraud happening through what we call social engineering.
03:26For example, today, if you receive a one-time password or an OTP, you should not give it to anyone,
03:34or your bank will never ask you about the one-time password.
03:38So, this is the constant awareness that we need to do for the world,
03:42and the tools that focus a lot today on the technology of artificial intelligence,
03:50so that we can protect more and more people from fraud.