NymCard receives in-principle approval from FSRA

Tuesday 18 August 2020 10:45 CET | News

NymCard, an UAE-based card issuing and processing platform has received in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA).

The startup enables financial institutions, banks, and fintechs to build virtual card programs for their customers.

The in-principle approval allows NymCard to hold money, transfer it, issue payment instrument with stored value, and do currency exchange. The IPA will also enable NymCard to work more closely with global financial institutions like Visa, Mastercard, and Western Union.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Abu Dhabi, fintech, NymCard, cards, FSRA, UAE, in-principle approval, IPA, Financial Services Regulatory Authority, payments , currency, exchange, financial, Visa, MasterCard, Western Union
Categories: Payments & Commerce
Countries: United Arab Emirates
This article is part of category

Payments & Commerce