Dubai, UAE: Fintech Payment Solutions (FPS), the company delivering market-leading fintech innovation across MENA, and NymCard, MENA’s only Banking-as-a-Service (BaaS) and Plug and Play Finance Provider, today announced they have partnered to bring an end-to-end digital payment solution to market. The two companies will deliver a range of products, services, and technologies, including issuing processing of prepaid debit cards and program management across the region.
NymCard and FPS’s collaboration is a huge step forward for MENA’s payments ecosystem with a primary focus on bringing mall gift cards to life in the UAE. The collaboration will offer digital innovators in FinTech, Digital, Travel, Telcos, and Retailers a comprehensive end-to-end payment solution that widens their customer base and enables them to seamlessly launch payment programs to enhance their offering and their customers' experience at speed.
Using NymCard’s unique BaaS services, Financial Institutions and non-traditional Financial Institutions can frictionlessly build, launch, and scale their card programs across multiple markets and regions in weeks. This partnership works toward removing challenges involved with card issuing by providing turn-key solutions and customizations through modern APIs.
FPS’s software solutions cover digital onboarding, white-label apps, virtual and physical cards, financial inclusion solutions, expense management, customer service, and reporting. Fintechs can build their experience using FPS’s out-of-the-box modules and FPS’s white-label app for a rapid go-to-market solution.
Colin Davidson, Head of Region at FPS, comments: “The recent growth of Fintechs and non-traditional Financial Institutions has uncovered a real challenge for the industry – finding a partner who can do the heavy lifting for them in the background, including KYC, customer service, white-label apps, processing and issuing services. With this collaboration, we are uniquely placed to support the increasing demand from customers, empowering them to launch payment programs and navigate them through the complex regulatory, technical, and operational aspects of payments in the region.”
Omar Onsi, CEO at NymCard, said, “Our mission is to enable plug and play banking features that remove the complexities, cost, and time of launching payment programs in this region. We look forward to supporting the growth of the fintech ecosystem in MENA and beyond as a result of this partnership”.
About Fintech Payment Solutions:
Fintech Payment Solutions (FPS) is the UAE company delivering marketing-leading fintech innovation across MENA. It is internationally recognized for providing cutting-edge, market-leading products, services, and technologies, including gift cards, financial inclusion solutions for youth and the underbanked, corporate expense management, and program management. Headquartered in the UAE, products and services under the FPS umbrella include Crunch Payments, Osper, Dialect, and Kani.
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 embedded finance into their application with just one integration and one partner. NymCard 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.