The Gulf Cooperation Council (GCC) region is entering a pivotal era in digital finance as the digital payments sector undergoes rapid transformation. The market is witnessing sustained momentum, supported by strong growth rates through the end of the decade. International fintech holding OSON notes that this acceleration is being driven by widespread digitalization, pro-fintech regulation, and the growing demand for seamless cross-border financial connectivity across the Middle East and beyond.
With a young, tech-savvy population, high smartphone penetration, and governments investing heavily in fintech-friendly initiatives, the GCC is fast emerging as one of the world’s most dynamic hubs for digital payments.
OSON — an international fintech player with deep roots in Central Asia and an operational presence in the UAE — offers a data-backed perspective on the key trends shaping the region.
Smartphone penetration and instant transfers push the GCC toward a cashless economy
Across markets such as the UAE, Saudi Arabia, Qatar, and Bahrain, the transition toward a cashless society continues to accelerate. In 2024, digital wallets and instant payment solutions saw strong adoption, supported by widespread 5G availability, fast internet connectivity, and near-universal smartphone usage.
Consumers are increasingly shifting away from cash in favor of contactless payments, QR-based transactions, digital wallets, and real-time peer-to-peer transfers. This behavioral change is driving higher transaction volumes and raising expectations for speed, transparency, and convenience.
OSON’s multi-currency wallet aligns closely with this evolution. By offering instant remittances, competitive FX rates, and proprietary payment corridors connecting Central Asia with MENA and global markets, OSON is building digital payment rails that enable faster, more affordable transactions for expats and businesses.
For expat-heavy markets such as the UAE, Kuwait, and Qatar—where foreign workers make up a significant share of the population—the ability to move money quickly and at low cost is critical. OSON’s infrastructure directly addresses this need through frictionless, real-time cross-border payments.
AI-driven compliance becomes a cornerstone of GCC fintech innovation
As fintech adoption accelerates, GCC regulators are strengthening frameworks that emphasize consumer protection, transparency, and financial stability. This environment is driving financial institutions to adopt AI-powered compliance solutions that streamline operations while reducing fraud risk.
OSON’s RegTech layer integrates:
- Machine-learning–based risk scoring
- Real-time transaction monitoring
- Automated KYC/AML checks
- Intelligent fraud detection models
These capabilities are increasingly essential as transaction volumes grow and cross-border activity expands. AI not only improves compliance accuracy but also enables institutions to scale efficiently by reducing manual workloads and accelerating customer onboarding.
In a region focused on building secure and transparent digital financial ecosystems, AI-driven compliance is becoming a key competitive advantage—one that aligns closely with OSON’s technology-first approach.
Embedded finance and API-driven payment aggregation support enterprise growth
Enterprises across the GCC—from banks and fintechs to e-commerce platforms—are rapidly adopting embedded finance to enhance customer experience and reduce operational friction.
OSON Business PaaS offers a single, enterprise-grade API that enables organizations to:
- Integrate payment aggregation
- Reduce processing costs
- Improve scalability
- Launch new digital finance products in weeks instead of months
This shift toward API-first financial infrastructure is helping businesses innovate faster while strengthening the GCC’s position as a global fintech hub.
CEO Farhod Makhmudov: “We are building financial rails for the world’s most mobile regions”
OSON Founder & CEO Farhod Makhmudov said the company’s strategy is centered on creating a unified digital financial ecosystem for regions with high cross-border mobility:
“Millions of people in Central Asia, MENA, and emerging markets travel, work abroad, and run cross-border businesses every day. These regions need reliable and affordable financial rails. By owning the full stack—from our consumer app to B2B APIs, payment terminals, and global eSIM—we make these financial flows faster, safer, and more accessible.”
He added that OSON’s expansion across the Middle East, followed by the United States and Southeast Asia, is a natural extension of this long-term vision.
About OSON
Founded in 2016, OSON is an international fintech holding headquartered in Central Asia with its operational hub in the UAE (DIFC). The company serves over 2.8 million users, operates 2,550+ payment terminals, and delivers advanced B2B PaaS payment solutions to financial institutions worldwide.
