As fintech and non-banking entities encounter challenges when trying to launch new payment programs, partnering with several players in the ecosystem, including Bank Identification Number (BIN) sponsors, issuer processors, Know Your Customer (KYC), and Anti-Money Laundering (AML) partners represents a necessity for multi-market penetration. Technological, operational, and commercial enablement are problematic to attain in the marketplace as the card enablement environment remains divided.
VRTL undertakes these challenges by providing end-to-end credentials issuance capability through product bundling, program management, and scalable tech integration platforms via APIs. The process is simplified with the One Contract, One Pricing, and One Integration approach, reducing the Go to Market (GTM) timelines, an important factor for startups. The partnership’s objective is to improve the overall capability and to ensure that the onboarding experience for fintech and non-banking entities will be immediate.
According to the UAE Visa’s representatives, VRTL effectively bundles products and services for fintechs to seamlessly launch payment programs. Moreover, the program wants to introduce simplified pricing, singular contracting, and ideal integration, which represent the foundation of a rapid launch.
The fintech enablement program is currently available in the Gulf Cooperation Council and North Africa, Levant, and Pakistan regions, and is projected to be expanded to Central Europe, the Middle East, and Africa.
About NymCard
Back in June 2023, the company acquired Spotii, a BNPL company, to extend customised BNPL services to its customers. Through the acquisition, Spotii’s technology, customers, and merchants merged with NymCard’s Baas and card issuing platform, therefore expanding the latter’s range of services to include credit-on-demand offerings for financial institutions, banks, retailers, fintechs, and end customers.
