MENA-based BaaS provider of embedded finance NymCard has formed a strategic collaboration with Visa in the Middle East that will allow NymCard’s network of fintech partners to onboard onto Visa’s global network through Visa’s Fintech Fast Track Program.
This move will give NymCard’s fintech partners fast-tracked access to leverage the reach, capabilities, and security of Visa’s global payment network – helping them create innovative payment solutions.
NymCard has also previously completed the Visa Ready ‘Issuer Processor’ program that ensures NymCard’s commitment to deliver tech solutions that meet Visa’s industry-leading security standards and specifications. NymCard’s tech solution will be added to Visa’s partner directory listing.
“Embedded finance is emerging as one of the most disruptive trends in the banking industry. It is progressively enhancing financial services and increasing the role of fintechs such as NymCard in the financial lives of enterprises and consumers,” said Omar Onsi, CEO and Founder of NymCard.
“Our partnership with Visa strategically positions NymCard to be one of the go-to partners for the region’s growing fintech community enabling them to issue and process payment cards seamlessly and in record time. This allows our fintech customers to focus on building innovative and customer-centric products while leaving the complexities of compliance and relationships with banks on us.”
The announcement follows NymCard’s newly launched open API platform that aims to streamline the process of issuing new card programs and payment solutions, allowing the regions Fintechs and Banks to innovate, customise and launch new payment experiences for their users.