Mastercard has signed on NymCard, a plug-and-play banking-as-a-service (BaaS) provider, as a principal issuer in the UAE. It’s the the first time a fintech in the UAE has been licensed to issue cards by Mastercard. Through their Principal Mastercard License, NymCard will empower digital partners, enabling them to go live in as little as a few weeks, according to the company. MENA-based Banking as-a-Service (BaaS) provider NymCard have built their tech stack from the ground up and are fully regulated by the central bank of the UAE. Read: HyperPay, Mastercard partner to grow digital payment rails across MENA

Source: The North Africa Journal June 16, 2022 11:58 UTC