Foo and areeba partner to provide digital payment in the Middle East

areeba is a global provider of payment infrastructure, offering secure payment solutions to banks, non-banks, and fintech companies. Its platform simplifies payment processes for both individuals and businesses, providing services throughout the entire payment value chain. 

This comprehensive offering empowers banks and fintech companies to create their own secure and scalable card programs and wallets without the need for complex infrastructure. 

In collaboration with Foo, areeba merges its card issuance platform with digital capabilities, resulting in a solution that integrates secure digital onboarding, electronic KYC (e-KYC), and tokenisation for Apple Pay and Google Pay. By combining both physical and digital issuance tools, this partnership removes barriers and accelerates go-to-market timelines.

The program is designed for financial institutions that wish to quickly launch modern, compliant, and top-of-wallet card products with increased flexibility.

Other partnerships from areeba

In November 2024, Commercial Bank International (CBI) joined forces with areeba to deliver card and payment solutions tailored for fintech companies.

This partnership made CBI one of the first banks in the country to utilise areeba’s payment management capabilities, aiming to increase the growth of digital payments in the region. The collaboration allowed CBI to tap into areeba’s technology platform, which was designed to simplify the launch and management of digital payment products.

With nearly half of the MENA region's fintech startups located in the UAE, this agreement aimed to foster competitiveness within the local fintech landscape.

The UAE’s fintech industry was experiencing growth, bolstered by supportive government policies and a rising demand for digital financial services. The sector’s assets under management were expected to reach USD 5.7 billion by 2029. In this context, the partnership between CBI and areeba was anticipated to provide fintechs with the necessary infrastructure to scale their operations, aligning with the UAE’s vision of nurturing a digital-first economy.