NOW Money signs deal with CBI and Network International

By Gloria Methri

NOW Money, a FinTech that provides banking and payroll solutions to the underbanked migrant population in the Middle East, announced its new strategic partnerships with Commercial Bank International (CBI) and Network International (Network).

The partnership will enable NOW Money to leverage CBI’s robust banking infrastructure and expertise to deliver efficient, secure, and comprehensive banking solutions to its users. With CBI’s support, the FinTech firm aims to expand its product offerings, providing more seamless and integrated financial services to its growing customer base.

Network will be NOW Money’s key partner in payment processing. Integrating Network International’s payment solutions will enable the company to offer faster, more reliable, and more secure transactions, significantly improving the financial experience for its users. This partnership is expected to bolster NOW Money’s operational efficiency and scale its offering to meet the regional demand for more sophisticated digital financial services in the region.

Nicolas Andine, CEO at NOW Money, said about the partnerships, “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.”

Giovanni Everduin, Chief Strategy & Innovation Officer at CBI, said, “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 supply of sophisticated digital financial services in the country and to further drive financial inclusion as part of our standing commitment to sustainable finance.”

Navneet Dave, Managing Director & Co-Head of Processing Middle East at Network International, said, “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 impacted the lives of many in the Middle East, with 10,970,647 transactions processed through the platform and AED 2,807,504,300 in salaries paid by over 511 responsible employers.