Western Union and NymCard announced that they have signed a partnership that will enable FinTechs and financial institutions in the United Arab Emirates to offer international money transfer services through the Western Union global money transfer platform.
NymCard is a regulated modern payment-issuing and processing platform connecting FinTechs, large enterprises and banks. The Company’s infrastructure enables these institutions to expand their capabilities by embedding seamless financial solutions onto their platforms.
By adding remittance services to their Banking as a Service (BaaS) proposition, NymCard can now offer a wide range of services to FinTechs looking to create seamless experiences for their end consumers in a fast and digital manner.
Western Union has been operating in the UAE for almost 30 years. The company is committed to fostering greater access and financial inclusion. It continues to leverage its omnichannel strength, forging new partnerships across multiple sectors and tapping into new markets and engaging new customers.
The Western Union Company is a global leader in cross-border, cross-currency money movement and payments. Western Union’s platform provides seamless cross-border flows and its leading global financial network bridges more than 200 countries and territories and approximately 130 currencies.
NymCard is the only MENA-based Banking as-a-Service (BaaS) provider that has built its tech stack from the ground up. They offer fintechs and other industry innovators the infrastructure to plug and play embedded finance into their applications with just one integration and one partner. NymCard supports emerging use cases, including gig economy, multi-currency wallets, money transfers, corporate expense cards, on-demand delivery services, Buy Now Pay Later (BNPL) offerings, and youth banking applications.