MENA-based BaaS provider and modern card issuer processor NymCard partnered with e-money platform and card issuer, Instapay to help MENA’s fintech expansion plan across Asia. The strategic partnership allows NymCard to enable its MENA clients to start scaling across Asia starting with Malaysia.
NymCard’s modern open API platform will power MENA and Malaysian fintechs by enabling them to launch innovative payment card programs at speed.
“Agility and speed are essential for fintechs to scale across multiple countries and regions. As such, we are providing the crucial connectivity and technology building blocks between fintechs, issuing banks, relevant card schemes, and regulators to launch innovative card programs where each offers a unique proposition to the end consumer. We are very excited about our partnership with Instapay and we are looking forward to enabling our MENA clients to expand to Asia while also serving local fintechs in Asia to innovate and scale across the MENA, to capitalize on the growth of embedded finance.”- said Omar Onsi, CEO & Founder, NymCard.
“Our partnership with NymCard will give fintechs an opportunity to leverage the strengths of both Instapay and Nymcard to launch and grow their business. Modern issuer processors like NymCard are vital for the payments ecosystem. They provide state-of-the-art technology and help build the next-generation payments platforms. By leveraging the capabilities of NymCard’s platform and unique capabilities of Instapay’s payments platform, we will allow our clients to innovate and scale at a much faster rate,” said Rajnish Kumar, CEO, Instapay Technologies. ‘Our partnership with NymCard will also enable us to take our Payroll Card solutions, which is specially designed for companies with low-income workers, to the Middle East markets.’
Progressive fintechs need modern tech infrastructure to build their payment card products without having to integrate with complex legacy payment systems. NymCard will take on the heavy lifting allowing fintechs to seamlessly integrate with critical resources to facilitate the launch of card programs. Utilizing NymCard’s existing partnerships as well as its open and customizable APIs to embed advanced payment functions is a game-changer for businesses of all sizes.
NymCard’s platform powers multiple use cases that are just emerging in the MENA market. This includes real-time payments, alternative authorization flows, multi-currency wallets, corporate expense cards, on-demand delivery services, buy now pay later offerings, youth banking models, among many others.
NymCard is a MENA-based BaaS provider and modern card issuer processor. It offers a cloud-based or on-premises modern payment issuing and processing platform allowing Fintechs, large enterprises, and banks with legacy platforms in the MENA region to instantly create, control, and distribute virtual or physical payment cards. NymCard is removing friction associated with old systems and complex regulatory processes enabling fintechs to focus on building their product proposition rather than deal with the payment rails infrastructure.
NymCard’s open API platform and Sandbox can support multiple emerging use cases, including real-time payments, alternative authorization flows, multi-currency wallets, buy now pay later offerings, parent-child models among many others. NymCard’s mission is to enable companies to launch frictionless payment programs with their modern infrastructure at record speed in any market in MENA and now in Asia as well.
Instapay (https://www.instapaytech.com) is a licensed e-money and Mastercard issuer based in Malaysia. Instapay is a digital payment and remittance platform which reduces the cost of remittances and improves accessibility to formal payment channels of the underbanked segments in Malaysia and Southeast Asia. It serves to streamline payroll processing within organizations while promoting the financial inclusion of their under-banked/unbanked employees.
Instapay has built a robust payment processing platform and customer interfacing technology which is being leveraged by fintechs to launch their solutions on Instapay’s platform.
For more information, Instapay can be reached on +603 2786 5301 or firstname.lastname@example.org.