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News

Mamo becomes Visa Principal Member in the UAE

Monday 4 December 2023 12:18 CET | News

Mamo has announced becoming a principal member of Visa in the UAE and is expanding its partnership with Visa to reshape SME financial services across the MENA region. 


As per the official press release, this milestone for the company happens after signing a five-year partnership agreement with Visa across the MENA region and launching the Corporate Visa Card program earlier in 2023. 


Being a principal member is a testament to the company's compliance with Visa's standards and regulations. The membership now gives Mamo direct access to the Visa network, enabling the company to independently and globally process Visa credit and debit card payments, issue Visa cards, and disburse cash to its customers.

Mamo has announced becoming a principal member of Visa in the UAE and is expanding its partnership with Visa to reshape SME financial services across the MENA region.

This partnership empowered Mamo to launch its Mamo Corporate Visa Card earlier in 2023. The Mamo Corporate Visa Card is a key product in Mamo’s spend management suite, enabling its business customers to manage their corporate spending right from within the business payments platform. 

Mamo Business now includes a full suite of financial products that help businesses digitise their financial operations. This includes payment processing, spend management, as well as APIs and integrations. Combined, this suite of products enables businesses to accept payments globally using multiple currencies and payment methods, issue Corporate Visa Cards and centralise expense management, as well as integrate any and all of Mamo’s capabilities into the business’ financial workflows. 

The card-based corporate spend industry in MENA is growing at a CAGR of 15% and is expected to reach USD 120 billion by 2025. The SME sector is the major driver for growth, accounting for over 60% of the market.‌ 

Looking to the future, and in partnership with Visa, Mamo is looking at an expansion into new markets across the MENA region.

About Mamo  

Mamo is a fintech startup headquartered in the UAE. The company provides businesses with a digital payments and spend management platform called Mamo Business. Mamo Business combines payments, spend management, and API integrations, to enable businesses to accept payments online, across multiple currencies and channels, from anywhere in the world and manage their spends digitally. Mamo Business hosts a delightful and cost-effective user experience and acts as a financial operating system and a lifeline for small businesses. 

In May 2023, Mamo selected Checkout.com as its payment provider of choice for Mamo Business. This deal was intended to further support Mamo’s mission to accelerate the growth of SMEs in the MENA region’s flourishing digital economy. 

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Keywords: Visa, partnership, digital payments, spend management, API
Categories: Payments & Commerce
Companies: Visa
Countries: United Arab Emirates
This article is part of category

Payments & Commerce

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Visa

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