NymCard, the leading payments infrastructure provider in the Middle East and North Africa (MENA) region, has successfully completed the acquisition of Spotii, a renowned BNPL fintech operating in vital markets including Saudi Arabia, United Arab Emirates, and Bahrain.
This strategic acquisition positions NymCard to provide its financial services clients with a fully customizable BNPL product tailored to their specific needs and local markets. The milestone deal marks a significant step forward in democratizing BNPL services throughout the region.
Spotii, initially established as a direct-to-consumer BNPL service, boasts a user base of over 1 million registered customers and partnerships with more than 1,500 merchants. By combining Spotii’s leading technology, risk engine, and market expertise with NymCard’s powerful BaaS (Banking-as-a-Service) and Card Issuing platform, prospective clients will have access to a robust solution for offering credit-on-demand products.
The integrated platform seamlessly serves both B2C and B2B markets, facilitating instant installment options through its nine modules. These cutting-edge modules encompass features such as eKYC (electronic Know Your Customer), AI-driven OCR (Optical Character Recognition), machine learning-powered rules, a cohort-based risk engine with intelligent risk assessment, a fully configurable Loan Management System, an AI-driven collections app, and streamlined decision-making processes.
“Spotii’s integration significantly expands the range of BaaS products and services available to NymCard clients, streamlining the launch of innovative new products,” shared Omar Onsi, CEO & Founder of NymCard. “We are excited to offer a comprehensive BNPL solution that can be tailored to meet the requirements of banks, financial institutions, retailers, FinTech companies, and most importantly, their end customers. This acquisition aligns with our mission to deliver innovative and accessible payment solutions to businesses across the MENA region and beyond.”
With enhanced payment solutions, a unified technology stack, improved data analytics capabilities, and an extended geographic reach, NymCard and Spotii are well-positioned to provide a comprehensive suite of payment and financial solutions, attracting a wider customer base and fostering stronger partner relationships.
“The combination of NymCard and Spotii creates significant synergies and strengthens our value proposition,” said Anuscha Iqbal, co-founder of Spotii.
“Our unique services, including Smart Expense Categorization, Invoice Payment and Reconciliation, LLM driven Customer Service and Collections app, instant credit decision ML model, and smart OCRs, enable us to offer an unparalleled range of value-added services,” added Ziyaad Ahmed, co-founder of Spotii.
This acquisition highlights NymCard’s commitment to empowering businesses of all sizes with modern payment solutions, encompassing prepaid cards, multi-currency offerings, charge and credit cards, and BNPL solutions. To discover how our services can benefit your organization, contact us today.
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