NymCard partners with Instapay to support MENA’s Fintechs expand operations across Asia
United Arab Emirates - June 29, 2021
MENA-based BaaS provider and modern card issuer processor NymCard partnered with e-money platform and card issuer, Instapay to help MENA’s fintech’s expansion plans 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 expand to Asia while also serving local fintechs in Asia to innovate and scale across the MENA, to capitalise on the growth of embedded finance.” -” said Omar Onsi, CEO and Founder of NymCard.
“Our partnership with NymCard will give fintechs an opportunity to leverage 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.