UAE fintech Mamo broadens collaboration with Visa for enhanced SME financial services across the Middle East and North Africa.
Visa Principal Member Mamo, the UAE fintech and financial services platform for SMEs, announced that it has expanded its collaboration with the payments giant throughout the Middle East and North Africa (MENA).
The fintech, which has its headquarters in Dubai, signed a five-year partnership agreement with Visa for the MENA region and launched the Corporate Visa Card program earlier in 2023. It has since completed Visa’s FinTech Fast Track Program.
Mamo was able to introduce its Corporate Visa Card sooner in 2023 thanks to this strategic cooperation.
Mamo can now independently and worldwide handle Visa credit and debit card payments, issue Visa cards, and distribute cash to its clients thanks to its membership, which grants it direct access to the Visa network.
Imad Gharazeddine, co-founder and CEO of Mamo, stated, “The Mamo platform aims to help businesses digitise their payment operations, which is aligned with the objective of the Dubai Economic Agenda (D33); to generate an annual contribution of AED 100 billion from digital transformation projects to Dubai’s economy.”
“Visa’s regional relationship and primary membership are revolutionary for Mamo. With Visa’s assistance, we can quickly realize our vision and seize incredible development potential. The introduction of the Mamo Visa Corporate Card, which provides companies with easy-to-use and effective financial solutions on a global basis, is a prime example of the collaboration’s tangible effects.
In addition, the fintech is planning to expand into other MENA areas in collaboration with Visa in the future.
Finally senior director of digital partnerships and projects at Visa, GCC, Sara Tabana, expressed her happiness at Mamo’s admission as a new principal member of the Visa family.
“It is noteworthy how committed and effective the staff has been during the onboarding process. She continued, “I look forward to collaborating with you to transform SME finance services throughout the MENA area.