Nexxo and NymCard join hands to empower bank in-a-box solutions for underbanked SMEs in emerging markets

04 Oct, 2022

NymCard to enable frictionless issuing across Nexxo’s global network 

Banking-as-a-service (BaaS) provider and modern issuer processor NymCard partners with Nexxo, a leading FinTech providing innovative commercial banking solutions to small and medium-sized enterprises (SMEs). Nexxo’s partnership with NymCard aims to empower underserved SMEs in emerging markets with easily deployable bank in-a-box solutions. 

Nexxo will use NymCard’s issuing platform to enable frictionless and scalable payment products across its portfolio of commercial banking solutions to better serve its global customer base.

With thousands of SMEs benefiting from Nexxo’s services, Nexxo will be utilizing NymCard’s BaaS platform to rapidly enable and expand its array of payment products offering in the Middle East, North Africa, and Southeast Asia.

Nebil Ben Aissa, CEO and Founder of Nexxo said: “We are very excited about our partnership with NymCard and its capacity to further accelerate our customers’ easy access to digital banking services. It is especially rewarding to see our historically underbanked SME clients achieve the access to commercial bank-grade financial services that directly betters their lives and the lives of their employees, customers and suppliers.”

“We are proud to enable a global FinTech player like Nexxo to provide SMEs across the world with the banking services required to flourish and become profitable”, said Omar Onsi, CEO and Founder of NymCard. 

Kashif Thakkur, CEO of Middle East & Africa for Nexxo who is very optimistic about this strategic alliance said: “Between Nexxo and NymCard we share the same passion for making use of cutting-edge technology to accelerate speed to market and significantly improve upon our customer value proposition. We foresee this alliance growing rapidly beyond UAE and across emerging markets globally.” 

“Underbanked business and individuals in emerging markets remain a largely untapped potential for digital payment innovation. This is because the FinTech ecosystem still struggles to find a modern issuer processor with the agility, cost structure, and required open APIs to build their payment products on top. Plugging into NymCard’s platform provides FinTech innovators with an infrastructure layer that eliminates the friction and complexities of card issuing enabling them to fast-track their payment products across the regions they operate in”, added Omar.

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About NymCard:

NymCard is a MENA-based BaaS provider and modern card issuer processor. We offer a cloud-agnostic modern payment issuing and processing platform called nCore that allows fintech in the MENA region to instantly create, control, and distribute highly customizable virtual or physical payment cards.NymCard’s mission is to enable companies to launch frictionless payment card programs at speed in any market in MENA and now in Asia as well. We are removing the friction associated with legacy systems enabling fintech to focus on building their product proposition rather than deal with complex payment processes. The company developed its own processing technology from the ground up, owning our whole tech stack. We published our APIs and are the only MENA-based issuer processor with a live Sandbox where fintech can get access and start building in no time. NymCard’s platform supports multiple emerging use cases, including gig economy use cases, multi-currency wallets, money transfers, corporate expense cards, on-demand delivery services, buy now pay later (BNPL) offerings, youth banking applications, among many others.

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