Beyon Money & MBME Pay join forces to enhance payment services
By Delisha Fernandes
Beyon Money, a financial super app and MBME Pay, a payment service provider company, have signed a Memorandum of Understanding (MOU) to streamline payment processes and ensure greater customer convenience and efficiency.
This strategic collaboration marks a significant milestone in the financial technology sector, as MBME Pay and Beyon Money join forces with the aim of enhancing the payment experience for customers in the United Arab Emirates (UAE).
The MOU outlines key areas of cooperation, including payment collection services and the expansion of third-party services to facilitate Beyon Money’s operations, which are planned to be launched in the UAE by the end of 2023.
Roberto Mancone, CEO of Beyon Money, said, “The UAE offers the ideal ecosystem for us. We are thrilled with our partnership with MBME Pay allowing our mutual clients in UAE to explore a seamless journey between our Beyon Money app and MBME kiosks, in line with regulatory requirements, while fostering our digitalization strategy of international transfers and payments. Both MBME Pay and Beyon Money are committed to innovation, digitalization, and customer-centric solutions and through this MOU we look forward to exploring further opportunities in the UAE.”
Furthermore, the collaboration will enable the financial super app to extend its range of services, which will be made accessible to its users and customers through various channels including MBME Pay’s Kiosks, with over 4000 across the UAE, offering a wider array of financial services in the UAE while enriching user experience. Customers onboarded in the Beyon Money App can seamlessly use the payment services through the MBME Kiosks.
Abdelhadi Mohamed, MD of MBME Group, said, “We are excited to join forces with Beyon Money and leverage our expertise in payment services to enhance their offerings which will soon be available in the UAE. This collaboration aligns with our commitment to providing innovative solutions and creating a seamless user payment experience. Together, we aim to contribute towards the ongoing digitalisation of the payment landscape in the region.”
IBSi Daily News Analysis
November 28, 2023
A $4 trillion Islamic banking market to be driven by FinTech, study showsRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage