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Qatar Tribune
21-05-2025
- Business
- Qatar Tribune
LuLu AI invests in PayLater Qatar
Tribune News Network Doha LuLu AI, the investment arm of LuLu Financial Holdings, has announced a strategic investment in PayLater Qatar, one of the first licensed Qatari providers of Buy Now, Pay Later (BNPL) and embedded finance solutions. This investment marks LuLu AI's first into the Qatari financial ecosystem and aligns with its broader vision of building a connected network of next-generation financial service providers across emerging markets. PayLater is a Qatar-based fintech innovator offering Buy Now, Pay Later (BNPL) solutions designed to make everyday purchases more accessible, affordable, and empowering. The company recently achieved a significant milestone by becoming the first recipient of a BNPL license from the Qatar Central Bank. 'LuLu AI is more than just an investment portfolio — we are shaping a future where financial services are intelligent, inclusive, and deeply human-centric,' said LuLu Financial Holdings MD Adeeb Ahamed. 'Every investment we make is a step toward empowering individuals and businesses with tools that simplify life and unlock opportunity and inclusivity. PayLater embodies this ethos, and we are pleased to be part of their mission to drive accessible and responsible financial solutions,' he said. 'This partnership with LuLu AI marks a major business milestone for us at PayLater. It's a shared belief in the future of responsible, flexible finance in Qatar,' said PayLater Co-Founder & Managing Director Mohammed Al Delaimi. 'LuLu AI brings regional scale and experience, and together, at PayLater, we're committed to building solutions that empower both consumers and merchants, while reinforcing Qatar's position as a fintech hub in the region,' he said. LuLu Alternative Investments was established to identify and back high-impact ventures that are solving real-world challenges in financial access, liquidity, compliance, and consumer experience. Its core thesis lies in leveraging capital to unlock capability — ensuring that startups have the runway to scale, the guidance to navigate regulatory landscapes, and the opportunity to collaborate across a trusted global network. By supporting firms like PayLater, LuLu AI is championing an inclusive and innovation-first approach to the digital economy.
Times of Oman
21-05-2025
- Business
- Times of Oman
LuLu AI Invests in PayLater Qatar to Advance the Future of Financial Inclusion
LuLu AI, the investment arm of LuLu Financial Holdings, has announced a strategic investment in PayLater Qatar, one of the first licensed Qatari providers of Buy Now, Pay Later (BNPL) and embedded finance solutions. This investment marks LuLu AI's first into the Qatari financial ecosystem and aligns with its broader vision of building a connected network of next-generation financial service providers across emerging markets. PayLater is a Qatar-based fintech innovator offering Buy Now, Pay Later (BNPL) solutions designed to make everyday purchases more accessible, affordable, and empowering. The company recently achieved a significant milestone by becoming the first recipient of a BNPL license from the Qatar Central Bank. 'LuLu AI is more than just an investment portfolio — we are shaping a future where financial services are intelligent, inclusive, and deeply human-centric,' said Adeeb Ahamed, Managing Director of LuLu Financial Holdings. 'Every investment we make is a step toward empowering individuals and businesses with tools that simplify life and unlock opportunity and inclusivity. PayLater embodies this ethos, and we are pleased to be part of their mission to drive accessible and responsible financial solutions.' 'This partnership with LuLu AI marks a major business milestone for us at PayLater. It's a shared belief in the future of responsible, flexible finance in Qatar,' said Mohammed Al-Delaimi, Co-Founder & Managing Director of PayLater. 'LuLu AI brings regional scale and experience, and together, at PayLater, we're committed to building solutions that empower both consumers and merchants, while reinforcing Qatar's position as a fintech hub in the region.' LuLu Alternative Investments was established to identify and back high-impact ventures that are solving real-world challenges in financial access, liquidity, compliance, and consumer experience. Its core thesis lies in leveraging capital to unlock capability — ensuring that startups have the runway to scale, the guidance to navigate regulatory landscapes, and the opportunity to collaborate across a trusted global network. By supporting firms like PayLater, LuLu AI is championing an inclusive and innovation-first approach to the digital economy.
Daily Tribune
21-05-2025
- Business
- Daily Tribune
LuLu AI Invests in PayLater Qatar to Advance the Future of Financial Inclusion
LuLu AI, the investment arm of LuLu Financial Holdings, has announced a strategic investment in PayLater Qatar, one of the first licensed Qatari providers of Buy Now, Pay Later (BNPL) and embedded finance solutions. This investment marks LuLu AI's first into the Qatari financial ecosystem and aligns with its broader vision of building a connected network of next-generation financial service providers across emerging markets. PayLater is a Qatar-based fintech innovator offering Buy Now, Pay Later (BNPL) solutions designed to make everyday purchases more accessible, affordable, and empowering. The company recently achieved a significant milestone by becoming the first recipient of a BNPL license from the Qatar Central Bank. 'LuLu AI is more than just an investment portfolio — we are shaping a future where financial services are intelligent, inclusive, and deeply human-centric,' said Adeeb Ahamed, Managing Director of LuLu Financial Holdings. 'Every investment we make is a step toward empowering individuals and businesses with tools that simplify life and unlock opportunity and inclusivity. PayLater embodies this ethos, and we are pleased to be part of their mission to drive accessible and responsible financial solutions.' 'This partnership with LuLu AI marks a major business milestone for us at PayLater. It's a shared belief in the future of responsible, flexible finance in Qatar,' said Mohammed Al-Delaimi, Co-Founder & Managing Director of PayLater. 'LuLu AI brings regional scale and experience, and together, at PayLater, we're committed to building solutions that empower both consumers and merchants, while reinforcing Qatar's position as a fintech hub in the region.' LuLu Alternative Investments was established to identify and back high-impact ventures that are solving real-world challenges in financial access, liquidity, compliance, and consumer experience. Its core thesis lies in leveraging capital to unlock capability — ensuring that startups have the runway to scale, the guidance to navigate regulatory landscapes, and the opportunity to collaborate across a trusted global network. By supporting firms like PayLater, LuLu AI is championing an inclusive and innovation-first approach to the digital economy. About LuLu AI LuLu Alternative Investments is the investment arm of LuLu Financial Holdings, focused on identifying and nurturing early- and growth-stage companies across global markets. With a mandate to invest in the future of finance, LuLu AI supports ventures that are reimagining access to money through technologies like AI, blockchain, real-time payments, embedded finance, and open banking. Positioned at the intersection of capital, compliance, and connectivity, LuLu AI is building an ecosystem of synergistic financial service providers that champion inclusion, sustainability, and innovation. For press enquiries, contact: Vishnu Prasad - About PayLater PayLater is Qatar's first licensed BNPL platform, providing secure and flexible installment-based and interest-free payment options to customers. PayLater's Shariah-compliant service is dedicated to empowering consumers with financial freedom and contributing to the growth of Qatar's digital economy. Serving more than one hundred thousand registered users, and with a vast and rapidly expanding network of merchants across the nation, from the biggest consumer brands to small businesses, wherever anyone shops in Qatar, PayLater is the only way to split-pay.
ILoveQatar.net
21-05-2025
- Business
- ILoveQatar.net
PayLater and LuLu AI partner to shape Qatar's fintech future
PayLater, Qatar's first licensed Shari'a-compliant Buy Now, Pay Later (BNPL) provider, announces a strategic investment partnership with LuLu Alternative Investments (LuLu AI), the fintech investment arm of LuLu Financial Holdings. This collaboration marks another important milestone for Qatar's fintech sector, as it fuels PayLater's mission to create ethical, user-driven financial technology that's scalable, inclusive, and innovation-led. As a homegrown fintech startup, PayLater has quickly emerged as a category-defining company, rethinkingcredit for the digital era. In under a year, it has onboarded over 100,000 users, partnered with 150+merchants across 200 branches, and delivered seamless, interest-free installments. The platform integrates into point-of-sale and e-commerce systems and is fully linked to Qatar's Credit Bureau. LuLu AI's investment is a strategic alignment driven by a shared commitment to smarter, more inclusive everyday transactions. 'This partnership with LuLu AI marks a major business milestone for us at PayLater. It's a shared belief in the future of responsible, flexible finance in Qatar. LuLu brings regional scale and experience, and together, at PayLater, we're committed to building solutions that empower both consumers and merchants, while reinforcing Qatar's position as a fintech hub in the region,' said Mohammed Al-Delaimi, Co-Founder and CEO of PayLater. 'Through LuLu AI, we are building more than a portfolio — we are shaping a future where financial services are intelligent, inclusive, and deeply human-centric,' said Adeeb Ahamed, Managing Director of LuLu Financial Holdings. LuLu AI's investment is a strong vote of confidence in Qatar's growing digital economy and marks its firstdirect fintech investment in the country. It aligns with the firm's mission to support disruptive financial technologies in high-growth markets. The partnership will accelerate PayLater's roadmap by expanding features, enhancing merchant tools, anddelivering deeper personalization and real-time insights, all while maintaining its ethical, Shari'a-compliantfoundation. It also sets a model for how startups and institutional investors can shape the future of fintech in the GCC. Source and cover image: Press Release Follow us on our social media channels: @ILQlive @ILQlive @ILoveQtr ILoveQatar Start a discussion
Khaleej Times
20-05-2025
- Business
- Khaleej Times
Rise of fintech: Redefining cross-border payments as digital platforms surge
In today's hyper-connected world, the ability to move money instantly, securely, and cost-effectively across borders is no longer a luxury — it's a necessity. Once known for traditional remittance corridors, the UAE's cross-border payments landscape has transformed into one of the most agile, innovative, and future-ready ecosystems globally. Over the past few years, propelled by a tech-savvy population, visionary national initiatives, and a vibrant fintech sector, the way people and businesses move money across borders has fundamentally evolved. 'The UAE's cross-border payments landscape has undergone a remarkable transformation in recent years,' said Adeeb Ahamed, Managing Director of LuLu Financial Holdings, in an interview. 'There's been an undeniable pivot toward digital channels, driven by a tech-savvy customer base and increasing trust in fintech innovation.' This shift mirrors the country's broader digitisation agenda. Landmark programmes such as We the UAE 2031 and the Central Bank of the UAE's Financial Infrastructure Transformation (FIT) Programme have cultivated an environment where digital transformation isn't merely aspirational — it's expected. Today, customers don't just send money; they transfer value, whether in fiat currencies, digital tokens, or emerging asset classes. Yet, human-centric services still have their place, with leading players like LuLu Exchange offering an omni-channel model that balances convenience with personal trust. Similarly, Ali Al Najjar, COO of Al Ansari Exchange, points to the dynamism and rapid evolution of the sector. 'The UAE has embraced advanced payment technologies, including real-time payment systems, digital wallets, and blockchain technology, which have streamlined cross-border transactions, making them faster and more secure,' he said. The regulatory environment, too, has been instrumental. Progressive policies supporting anti-money laundering (AML) standards, sanctions compliance, and financial infrastructure development have strengthened the UAE's reputation as a global financial hub. As part of its broader push toward a cashless economy — with Dubai aiming to become one of the world's top five cashless cities by 2033 — the adoption of mobile payments and real-time transaction capabilities has been a game-changer for consumers and businesses alike. Public-private partnerships have further accelerated progress. Collaborations between regulators, banks, fintechs, and global financial institutions have driven the creation of cutting-edge payment systems that combine speed with security. Adding to this momentum, the introduction of the Unified Payments Interface (UPI) and RuPay card services in the UAE marks another landmark development, particularly in strengthening the UAE-India financial corridor. 'The UAE-India corridor alone accounts for approximately one-third of the country's outbound remittances,' said Al Najjar. 'Indian expatriates are embracing the familiarity and efficiency of these platforms, while merchants are benefiting from faster settlements and cost-effective transaction options. These innovations build on the 2022 UAE-India framework for local currency settlement (INR-AED), which aims to reduce transaction costs and promote bilateral trade. We expect UPI and RuPay to further strengthen the financial bridge between both nations.' Otto Williams, Regional Head and General Manager of PayPal Middle East and Africa, notes: 'The UAE has transformed into one of the most agile cross-border payment hubs in the world. Driven by regulatory support, a robust fintech ecosystem, and consumer demand, cross-border payments in the UAE are increasingly seamless, instant, and secure,' he said. He added that the advent of real-time infrastructure, open banking frameworks, and interoperable digital wallets has drastically reduced friction and cost, positioning the UAE as a key enabler of global commerce — bridging East and West with a spirit of innovation and inclusion. Building a Future-Ready Financial Ecosystem In 2024, the UAE's foreign trade reached a record Dh5.23 trillion — an extraordinary milestone that highlights its increasing significance on the world stage. At the same time, the UAE has consistently ranked among the top three remittance-sending countries globally, connecting millions of expatriates with their families through trusted financial channels. Cross-border trade payments are pivotal to the UAE's economic momentum. As Ahamed notes: 'We consider the development of efficient payment rails as a critical part of the national financial infrastructure. Making it seamless and accessible is necessary for small businesses to thrive.' This focus has fueled the emergence of innovative, frictionless payment solutions designed to meet the complex needs of global enterprises and individual customers alike. Recognising the crucial role of financial innovation, the Central Bank of the UAE has created a highly supportive regulatory environment. The country has become a living laboratory for next-generation financial technologies, including real-time payment rails, blockchain-based transfers, and biometric verification—all aimed at redefining the future of cross-border money movement. 'The UAE's open and progressive regulatory framework has set the stage for transformation,' says Williams. 'Initiatives like the Dubai Digital Economy Strategy, and innovation zones such as DIFC's Ignyte and FinTech Hive, have fostered a thriving commercial sandbox. The government's approach enables innovators like PayPal to bring cutting-edge solutions to market faster.' Championing the UAE's cashless economy vision, Empay has emerged as a key player, aligning perfectly with the nation's digital economy aspirations. Launched in 2020, Empay aggregates lifestyle, government, and non-government payments into a single seamless platform. 'Empay simplifies financial management by allowing users to handle all their transactions without leaving the ecosystem,' says Gigi George Koshy, Deputy CEO and Chief Product Officer of Empay. 'This supports the national goal of digital transformation and inclusive financial access. Within the Empay ecosystem, users can send money instantly through peer-to-peer transfers. For cross-border needs, Empay has partnered with trusted exchange houses, making international remittances secure, quick, and accessible — especially important in a country with a large expatriate population.' Reducing Friction in International Money Transfers Ahamed emphasises that 'the future of finance lies in collaboration.' He explains that in a landscape as complex and fast-evolving as cross-border payments, no single player can address all the challenges on their own. Partnerships between startups and established financial institutions are helping to merge the speed and innovation of fintech startups with the trust, scale, and regulatory compliance of industry giants. One prime example of this collaborative model is LuLu Exchange's Remittance-as-a-Service (RaaS) product. This service offers a plug-and-play infrastructure for cross-border payments, enabling fintechs across the region to integrate quickly into a seamless payment system. According to Ahamed, this partnership model not only accelerates innovation but also makes the process smoother for customers. By eliminating barriers and reducing delays, fintech collaborations empower companies to scale faster, expand into new markets, and deliver a seamless user experience for remittances. Williams highlights the significance of partnerships in creating frictionless cross-border payments. PayPal's recent collaboration with TerraPay, a global payment platform, exemplifies how fintech companies are working together to connect banks, mobile wallets, and PayPal accounts across the Middle East and Africa. This partnership eliminates many of the delays and intermediaries typically involved in traditional international money transfers, offering customers a more transparent and secure payment experience. Further innovating the wallet space, Williams adds, 'On the wallet front, we're working to make peer-to-peer cross-border wallet transfers as easy as sending a message.' By simplifying the process and removing unnecessary steps, these collaborations are paving the way for a more efficient and user-friendly experience. This is especially important for underserved communities, who are gaining access to global digital commerce for the first time — breaking down barriers to financial inclusion. Driving Financial Inclusion Cross-border payments are increasingly recognised as a key driver of financial inclusion, particularly in regions with large migrant populations. 'Cross-border payments are instrumental in driving financial inclusion — particularly in regions with large migrant populations. In the UAE, we've successfully leveraged innovation to make remittances faster, safer, and more affordable for millions,' according to Ahamed. He credits the Central Bank of the UAE (CBUAE) for its future-focused regulation, which has laid the groundwork for a robust, technology-driven remittance ecosystem. This innovation-first approach is advancing financial inclusion at scale, in line with the UN Sustainable Development Goal of keeping global remittance costs below 5%. 'The UAE has consistently maintained remittance fees within this threshold — a significant achievement made possible through collaborative initiatives such as the Foreign Exchange and Remittance Group (FERG), which unites industry leaders to champion inclusive, customer-focused financial solutions,' Ahamed adds. Echoing similar sentiments, Al Najjar highlights that innovation has become a powerful enabler of financial inclusion in the UAE's rapidly evolving financial landscape. 'With the UAE progressing toward a fully cashless society and mobile wallet usage growing rapidly, we are seeing a broader segment of the population — including underbanked and lower-income communities — gaining access to digital financial tools,' he says. According to the latest survey, 82% of UAE SMEs now use apps and digital tools for cross-border payments, marking a 27% increase since 2021. This surge in digital adoption underlines how technology is democratising financial access across the country. 'At Al Ansari Exchange, we are committed to supporting this momentum through user-friendly digital platforms that extend reach and accessibility,' Al Najjar emphasises. Williams also notes the broader impact of financial inclusion, adding: 'Financial inclusion isn't just a goal, it's a catalyst for long-term economic resilience. Through our partnerships and platforms, we're bringing millions of SMEs and individuals into the global digital economy. Our our joint efforts with ecosystems like Ignyte are designed to empower startups with access to payment tools that were once only available to large enterprises. Cross-border innovations help reduce reliance on cash, improve transparency, and enable access to broader markets, paving the way for more equitable growth, especially for underserved countries.' The Age of Intelligence As global trade and remittances continue to evolve, emerging technologies such as AI and open banking are set to redefine how money moves across borders. 'We are witnessing a transition into the age of intelligence — where AI is reshaping every industry, and cross-border payments are no exception,' says Ahamed. At LuLu Financial Holdings, AI is already being deployed in critical areas such as fraud detection, regulatory compliance, and reconciliation, significantly enhancing operational efficiency and security. Ahamed points out that intelligent automation is also making a major impact on customer service, enabling faster, more personalised support at scale. Similarly, Williams highlights the early adoption of AI in streamlining compliance processes, preventing fraud, and even crafting personalised shopping experiences for users. 'These technologies, when integrated thoughtfully, promise a new era of programmable, personalised, and predictive financial services that scale across borders,' he says. Open banking is another revolutionary force shaping the future. Ahamed notes that LuLu Financial Holdings has been an early adopter, fully embracing the shift towards embedded finance. 'Open banking gives us a clearer view of customer needs, enabling us to build a diverse and responsive suite of financial products,' he says. Taking a major step forward, LuLu Financial Holdings will launch Digit9's World API next month at the Dubai Fintech Summit — a powerful tool designed to unify and simplify access to global payment networks. Ahamed believes it has the potential to profoundly reshape the cross-border money movement, making it faster, more secure, and more inclusive than ever before. Williams echoes the sentiment, emphasising that open banking is becoming 'the connective tissue' linking local banks, digital wallets, and global payment providers like PayPal. This connectivity is essential for creating a truly interoperable financial ecosystem.
