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Universal Payment Network, a subsidiary of FinTra Holding, has launched the UPN Consortium platform to involve payment networks, banks, wallets, and remittance companies in defining the network’s strategy, roadmap, and pricing principles. The announcement comes as UPN reveals the first live transaction from a local wallet across Africa, while the network says it covers more than 50 markets and provides access to more than 100 alternative payment methods.
UAE fintech company Sav has raised $3.5 million in a pre-Series A round led by Phoenix Venture Partners, bringing its total funding to approximately $6 million. The company will direct most of the investment toward entering the Saudi market and developing its AI-based products and infrastructure across the Gulf.