FOO is an Award-winning B2B SaaS solution provider, headquartered out of the UAE. NymCard, MENA’s only BaaS provider and modern card issuing platform have partnered to provide fully-fledged, and out-of-the-box digital payment solutions for innovators in MENA.
NymCard and FOO’s collaboration is a step forward for the region’s ecosystem as it provides non-traditional financial institutions such as fintechs, digital banks, governments, telcos, exchange houses and retailers with a comprehensive end-to-end payment solution enabling them to digitize and elevate their customers’ experience.
FOO’s Multi-Lingual Converged Wallet Platform which delivers the latest innovations in digital payments combined with NymCard’s fast-track card issuing platform provides a turnkey solution that allows innovators to easily create unique business propositions through card programs.
Using NymCard’s tech infrastructure layer, innovators can seamlessly build, launch, and scale their card programs across multiple markets and regions in a matter of weeks. This partnership is designed to reduce friction in card issuing and provide innovators with a single platform with all the necessary APIs.
FOO’s modular software solutions cover digital onboarding, stored value accounts, virtual card issuing and management, international remittance, NFC and QR code payments, peer-to-peer transfers and merchant solutions. Innovators can build their experience using any of FOO’s out-of-the-box modules and FOO’s white-label app for a rapid go-to-market solution.
The collaboration leverages the strengths of both FOO’s and NymCard’s offering to meet the growing demand for tech-savvy solutions in the region. That’s why in the next three to five years, 82% of businesses plan to increase collaboration with Fintech companies.
Ghady Rayess, the Managing Partner at FOO, comments: “Digital purchasing solutions are no longer a value-added benefit – customers everywhere don’t just demand but expect a seamless experience at various touchpoints in their daily life. Businesses need embedded finance solutions to be successful. With this collaboration, we are well placed to support the increasing demand from customers, by empowering businesses to integrate these solutions quickly and efficiently.”
Nabil Tabbara is NymCard’s VP of Strategic Partnerships. “With digital payment adoption growing at a rapid pace, it is crucial for innovators to have all the tools they need at their fingertips to allow them to elevate the banking experience in order to resonate better with today’s business and consumer needs. We are very happy to have Foo share our vision of a collaborative ecosystem to bring the best-embedded finance technologies to our clients and enable them to bring their visions to life”.
FOO and NymCard both signed this partnership agreement. This will help support the growth and development of the Fintech ecosystem across the MENA and beyond.