Following this announcement, the company will focus on providing clients and users in the UAE region with access to a range of secure and efficient financial services, as well as digital offerings throughout the local market. In addition, the company will launch its Personal Financial Management solutions, focusing on enabling customers to link their UAE bank accounts to the application. This will give them the possibility to view all their transactions in one place, as well as access the needed financial insights to observe their spending habits.
Moreover, clients will be allowed to utilise Beyon Money’s Digital International Remittance Service, in order to send funds internationally both from their app using their debit cards, their Wage Protection System card (WPS), or their bank accounts. In addition, customers can be digitally onboarded in a secure and fast manner through the app, while benefiting from immediate access to the range of available services.
The launch of Beyon Money SuperApp in the UAE region was approved through the licences provided by the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM).
Financial super app Beyon Money had multiple collaborations and product launches in the last couple of months, covering several different geographic areas around the world.
In October 2023, Beyon Money announced the launch of its Beyon Money Checkout solution, in collaboration with Ottu, in order to provide businesses and firms in Bahrain with improved online payment acceptance services. The Beyon Money Checkout tool was developed to optimise the overall landscape of merchant products in the region, as well as other Middle Easters areas. The tool was set to enable customers to simplify processing transactions, which aimed to lead to cost savings for traders and businesses.
At the same time, customers were given the possibility to benefit from secure and optimised payment experiences, with transactions being completely instantly when they leveraged their phone number that was registered within Beyon Money. This procedure focused on eliminating the need for clients to enter their payment card details.
Earlier in February 2023, Netherlands-based fintech company TerraPay announced its strategic deal with Beyon Money in order to optimise onward remittances from Bahrain to key integrated networks. Through this collaboration, TerraPay and Beyon Money were expected to provide clients with the possibility to access a larger addressable remitters market in the region, for making transactions across all key corridors secure and efficient.
This process was set to allow users to leverage a safe and affordable network for real-time payouts to their families, acquaintances, friends, and loved ones. At the same time, they were allowed to make instant payments and transfers from Bahrain India, Pakistan, Nepal, Indonesia, Thailand, Ghana, Cameroon, Uganda, Philippines, Sri Lanka, Bangladesh, Kenya, and more.
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