NymCard has signed a strategic partnership agreement with Visa, the world leader in digital payments, to support fintech's across the Middle East, North Africa, and Pakistan to launch and market their payment programs at speed. This collaboration offers MENA and Pakistan’s fintech ecosystem partnership support and other value-added services, including Marketing, Consultancy, and industry expertise. Fintechs will be able to build and launch their business at speed through NymCard’s modern Banking as a Service (BaaS) platform.
‘We understand how important it is for a fintech to launch in a cost-effective and timely manner, and through this enablement program between NymCard and Visa, we can help fintech's in setting up their payment programs, building their pricing models, and provide marketing support in no time, something crucial for our clients” said Omar Onsi, CEO/ founder at NymCard.
“We are excited about this partnership with Visa as it will help accelerate and bridge the gap between the fintech innovation and the funding needed to scale." added Omar Onsi.
Otto Williams, SVP, Head of Product, Partnerships and Solutions for Visa's Central and Eastern Europe, Middle East and Africa (CEMEA) region, said “We believe in the power of fintech innovation, especially in this region where the fintech sector is growing and which is becoming a hub for tech-savvy investors. Through our partnership with NymCard, we will provide fintech's with the tools they need to thrive - from faster onboarding to scaling their business by growing the program volumes. This is in line with our goal to enable Fintechs to focus on building and scaling their product while removing barriers and challenges related to integrating complex payment processes.”
As a trusted network and engine of commerce that enables money movement for everyone, Visa works closely with fintech to touch just about every part of the payments ecosystem.
The partnership with NymCard underscores Visa's long-term commitment to support the growth and development of fintech's worldwide to develop innovative forms of digital payment solutions that meet the needs of businesses and consumers alike.
Visa's flagship initiatives, such as the Fintech Fast Track Program and the Visa Everywhere Initiative, are designed to pave the way for fintechs to scale and unlock new opportunities.
The agreement between Visa and NymCard was signed at Visa's new CEMEA headquarters in Dubai, UAE.
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable, and secure payments network, enabling individuals, businesses, and economies to thrive. We believe that economies that include everyone everywhere uplift everyone everywhere and see access as foundational to the future of the money movement. Learn more at About Visa, visamiddleeast.com/blog, and @Visamiddleeast.
NymCard is the only MENA-based Banking as-a-Service (BaaS) Provider that has built its tech stack from the ground up. They offer fintechs and other industry innovators the infrastructure to plug and play ready finance into their application with just one integration and one partner. NymCard offers banking features such as cards, accounts, and IBANs into UX and workflows, enabling their clients to focus on building their product proposition rather than deal with complex payment rails. NymCard also supports emerging use cases, including gig economy, multi-currency wallets, money transfers, corporate expense cards, on-demand delivery services, Buy Now Pay Later (BNPL) offerings, and youth banking applications.