Pakistani fintech Abhi expands UAE footprint with NymCard partnership

Abhi, a Pakistani embedded finance platform, and NymCard, a UAE-based payments infrastructure provider, announced a strategic partnership on Tuesday, according to Business Recorder. The alliance aims to help financial institutions offer SME credit in the UAE with greater efficiency. It links Abhi's business finance offerings with NymCard's card and payments systems across the credit cycle.

Shiraz Ali, Chief Business Officer at NymCard, said the combined offering should let lenders act quicker, cut complexity and create credit products that can grow. Zain Ali, AVP Sales and Partnerships at Abhi, added that banks could introduce SME credit without assembling several components on their own. For small businesses, the companies expect a shorter route from application to receiving approved funds.

Abhi offers Earned Wage Access and SME Financing products, including AbhiSalary, AbhiPayroll, AbhiKarobar and AbhiPay. It says it has over 1 million users and works with more than 7,000 businesses across Pakistan, the UAE, Saudi Arabia and Oman. NymCard describes its business as full-stack payments infrastructure, holds principal membership with Visa and Mastercard, operates in 10 markets and counts more than 60 clients among its customers.