NOW Money enters in partnerships to serve migrant worker community

NOW Money, a prominent fintech company, has strategically partnered with Commercial Bank International (CBI) and Network International, making banking and payroll solutions more accessible to the underbanked migrant workers community in the Middle East.

These collaborations mark a significant milestone in NOW Money’s mission to provide comprehensive and convenient financial services to the migrant worker community in the GCC. Through these alliances, NOW Money will be able to leverage the expertise and resources of these institutions to offer its customers even more comprehensive banking solutions.

Through its partnership with Commercial Bank International, NOW Money will benefit from CBI’s extensive banking network and experience, enhancing NOW Money’s ability to provide its users with comprehensive, secure, and effective banking products. With CBI’s support, NOW Money aims to expand the range of products it offers and deliver more seamless and comprehensive financial services to its growing customer base.

Network International will serve as NOW Money’s primary payment processing partner. By integrating Network International’s advanced payment solutions, NOW Money will be able to provide its users with faster, more reliable, and secure transactions, thereby enhancing their financial experience. This partnership will enable NOW Money to scale its offerings and improve operational efficiency to meet the growing demand for more advanced digital financial services in the region.

Nicolas Andine, CEO of NOW Money, commented that, “These agreements will further champion financial inclusion, advance banking security, and bring greater innovation to the digital banking ecosystem for businesses, and most importantly for low-income workers, across the UAE in an increasingly cashless society. Our top priority has always been our customers and users, and we want to ensure we offer them a best-in-class digital payroll and mobile banking experience combined with local hands-on customer service. We will continue to deliver the very best experience to our customers, and we look forward to the next chapter with our new banking partners.”

Chief Strategy & Innovation Officer at CBI, stated that, “A core part of our strategy is to focus on partnership-driven innovation to serve the vision of the UAE’s leadership to become a leading financial services hub. Working with partners like NOW Money and Network International reflects our ambition to increase the availability of sophisticated digital financial services in the country and to further drive financial inclusion as part of our ongoing commitment to sustainable finance.”

Navneet Dave, Managing Director & Co-Head of Processing Middle East at Network International, remarked that, “We are thrilled to be NOW Money’s chosen partner to expedite the expansion of payroll cards in the UAE. We are committed to supporting NOW Money’s growth strategy of promoting financial inclusion by providing innovative payment solutions. With Network’s exceptional technological capabilities, serving over 200 financial institutions, we will enable NOW Money to bolster its presence in the UAE as one of the leading payroll services providers.”

NOW Money’s innovative approach to mobile banking has already benefited many people in the Middle East, with 10,970,647 transactions completed through the platform, and more than 511 responsible employers paying AED 2,807,504,300 ($ 76,43,68,958.94) in salaries.

NOW Money’s goals, which aim to empower the unbanked population by providing them with the means to achieve financial independence, align with the strategic partnerships with CBI and Network International. As it pursues its goal of building a more accessible financial ecosystem, NOW Money remains at the forefront of the fintech sector.

SOURCE: EMIRATITIMES