mada, Visa promote safe digital payment practices

Ziad Al-Yousef, managing director of mada.
Updated 27 May 2019

mada, Visa promote safe digital payment practices

The Saudi Payment Network (mada) and digital payments leader Visa has launched “Stay Secure,” a consumer education campaign that aims to promote safe digital payment (card and mobile) practices among Saudi consumers. The Visa-mada 2019 security campaign addresses consumer concerns and provides relevant tips and advice to help consumers protect themselves against payment-related frauds. This is the second successive year that mada and Visa have partnered on this initiative. Previously running for one week, this year’s campaign will run for one month.
Visa and mada surveyed consumers across the Kingdom regarding security of digital payments. Saudi consumers are increasingly comfortable paying and transacting with cards overall (in-store and online), with 89 percent of respondents finding cards more secure than cash.

Among online shoppers and e-commerce users, card payments remained the predominant mode of payments (66 percent) driven by factors such as security (82 percent), budget management (66 percent), and availability (60 percent). Eighty-two percent of the respondents claimed to have started making more card payments online in the past two years.
Ziad Al-Yousef, managing director of mada, said: “We are excited to partner with Visa on the ‘Stay Secure’ campaign as it gives us a sense of consumers’ security concerns and enables us to address them effectively. Saudi Arabia’s payments landscape is rapidly evolving to offer online shoppers with a range of payments options.”

Gaming giant Tencent Games picks Dubai for MENA headquarters

Updated 26 June 2019

Gaming giant Tencent Games picks Dubai for MENA headquarters

DUBAI: China’s Tencent Games has chosen Dubai as regional headquarters for its Middle East and North Africa operations, with Dubai Internet City housing the gaming giant’s office.

Tencent Games was launched in 2003 and has since grown into a global platform for game development, publishing and operation. Its ownership stakes and alliances with many major video game companies includes Fornite, Ubisoft, Activision-Blizzard, Riot Games, Supercell and Take-Two Interactive Software.

The opening of Tencent Games’ regional headquarter is an indication of increased activities in the local and regional games industry which covers digital entertainment, education and cultural experiences, a statement said.

According to market research firm Newzoo, the revenue of the UAE games sector is estimated at $324 million (1.2 billion dirhams) in 2019. Furthermore, over 80 percent of smartphone users in the UAE play mobile games, it said.

The UAE has the highest mobile penetration rate in the world at 173 per cent – nearly double the country’s population, according to a report by Statista released in late 2018. This is a considerable figure and represents a wealth of opportunities for game developers, with revenues from mobile games representing more than half the income generated in the entire industry.

“Gaming moves beyond entertainment and is increasingly used to engage and educate, and as more gamers and creative enthusiasts enter the industry, we can certainly expect the market to develop rapidly in the coming years,” Ammar Al-Malik, managing director of Dubai Internet City and Dubai Outsource City said.

Vincent Wang, general manager of the Global Publishing Department at Tencent Games, said: “The UAE’s high mobile and internet penetration is an extremely encouraging indicator for tech firms across the world, and is especially relevant to the global games industry.”