mamo WAHED Urban skyline and cityscape at sunrise in Dubai UAE.
Middle East & Africa Paytech Trending

Mamo Achieves Visa Principal Membership in UAE, Expands MENA Partnership for SMEs

Mamo, the UAE fintech and financial services platform for SMEs, reveals it is now a Visa Principal Member, expanding its partnership with the payments giant across the MENA region.

Headquartered in Dubai, the fintech has completed Visa’s FinTech Fast Track Programme after signing a five-year partnership agreement with Visa across the MENA region and launching the Corporate Visa Card programme earlier in 2023.

This strategic partnership empowered Mamo to launch its Corporate Visa Card earlier in 2023.

The membership now gives Mamo direct access to the Visa network, enabling the company to independently and globally process Visa credit and debit card payments, issue Visa cards, and disburse cash to its customers.

“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 100billion from digital transformation projects to Dubai’s economy,” said Imad Gharazeddine, co-founder, and CEO at Mamo.

“Our principal membership and regional partnership with Visa are a game-changer for Mamo. With Visa’s support, we unlock remarkable opportunities for growth and can accelerate the realization of our vision. The launch of the Mamo Visa Corporate Card exemplifies the tangible impact of this collaboration, empowering businesses with seamless and efficient financial solutions at a global scale.”

Looking to the future, and in partnership with Visa, the fintech is also eyeing expansion into new markets across the MENA region.

Sara Tabana, senior director of digital partnerships and ventures at Visa, GCC, expressed her delight in welcoming Mamo as a new principal member of Visa.

“The team’s dedication and efficiency during the onboarding process have been commendable. I eagerly anticipate working together to revolutionise SME financial services across the MENA region,” she also added.


Related posts

PayPal Finds Digital Payments Are Key Growth Enablers for UAE Freelancers and SMBs

Polly Jean Harrison

As Open Banking Deadline Looms, 92% Of Tech Organisations Expect Disruptions To Occur

Francis Bignell

Em Conversa: Connecting Payments for International Merchants and LatAm Customers With dLocal

Francis Bignell