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UAE’s DenekB joins Visa’s FinTech fast track program

By Edil Corneille

February 08, 2021

  • UAE
  • VISA

DenekBDenekB, a UAE-based financial technology (FinTech) company, announced that it has joined Visa’s FinTech Fast Track program, speeding up the process of integrating with Visa. DenekB is a digital platform aimed at creating and promoting financial literacy and access to consumer financial services for the underserved middle- and lower-income residents in the UAE.

Through Visa’s FinTech Fast Track program, DenekB will be able to more easily leverage the reach, capabilities, and security of VisaNet, Visa’s global payment network, to launch a virtual prepaid card. The card will help people make everyday spending more rewarding by providing access to financial education, payment products, and a marketplace in partnership with Visa. The DenekB virtual prepaid Visa card can be used for everyday transactions across all outlets accepting Visa in the UAE, online, and abroad.

By joining Visa’s FinTech Fast Track Program, DenekB also now has the ability to access Visa’s growing partner network and experts who can provide guidance in helping them get up and running in the most efficient way possible.

“There is no better time to launch our virtual prepaid card for the people who now more than ever need it the most – the unbanked and the underbanked. Consumers need a transparent and robust platform that puts them in the driver’s seat of their hard-earned wages by providing convenient and flexible access to their payroll between pay cycles, and DenekB offers them that and more,” said Kamal Asif, Founder & CEO of DenekB.

“DenekB with our new partnership with Visa, offers a virtual prepaid card that is needed by most of the people today, including a virtual account, contactless payments, ability to send money home to loved ones safely and earn instant cashback on every spend.” The company mentioned that they’re set to maximise the utilisation of Visa processing capabilities which is the basis of the company’s ability to launch a secured payment platform to its clients deploying speed, convenience, and feasibility.

“By joining Visa’s FinTech Fast Track program, digital platforms like DenekB gain unprecedented access to Visa experts, technology, and resources,” said Otto Williams, Vice President, Strategic Partnerships, FinTech and Ventures, CEMEA at Visa. “Fast Track lets us provide new resources that rapidly growing companies need to scale with efficiency. We’re delighted to welcome DenekB into our program and look forward to supporting their mission of providing underserved segments of the UAE population access to convenient and secure digital payments.”

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