Industry expert lauds role of local tech startups, fintechs during World Cup

Homegrown tech startups and fintech companies have been playing a significant role in catering to the needs of tourists and visitors of the FIFA World Cup Qatar 2022, according to an industry expert.
Hefzi Malhis, partnerships manager at Innovation Café, told Gulf Times that some of the local fintechs have been very successful in securing deals with payment gateways, allowing smooth digital financial transactions for visiting foreigners.
“These fintech companies, among many others that are based in Qatar, have enabled seamless and safe transactions during this global event, which added to the success of the country in hosting an international sports tournament, such as the World Cup,” Malhis emphasised.
Other homegrown tech companies were also significant players in helping visitors book their hotels in Qatar by giving them access to special payment links, according to Malhis, citing cases wherein some websites are unable to provide extensive information about hotel vacancies here during the World Cup.
“By providing important services and vital information to visiting fans and tourists, Qatar’s tech startups and fintechs, among others, are playing a very significant part in promoting the country, not only as a sports destination but also a leading tourism and entertainment hub in the region,” Malhis pointed out.
According to Malhis, one of the advantages of utilising local technology companies over international payment gateways is their expertise, familiarity, and knowledge of the local market, as well as better rates.
“International event organisers also gain a lot of advantages from working with local fintechs and tech startups because these companies are on the ground – they know the terrain – and, most importantly, they are trustworthy,” he explained.
Malhis noted that many Qatari entrepreneurs in the food and beverage (F&B) sector wanted to open their businesses before the World Cup.
He said fintechs and other startups also played an important function by offering F&B companies the option to use different innovations and technologies to maximise the benefits of operating a business during the tournament, such as delivering food and other services to fan zones and other World Cup-related areas.
Malhis also lauded the assistance provided by the Qatari government to local entrepreneurs, saying strong and early public sector support was crucial in preparing and establishing these businesses prior to the tournament.
“Many local entrepreneurs were able to open up their businesses even before the World Cup, which is a great advantage because the government was there to help and support them and make sure that these companies are able to fully operate, especially during the tournament itself,” he added.