What NymCard does

NymCard is an API-first payments infrastructure provider founded in 2018 in Beirut and now headquartered in Dubai, UAE, that operates the nCore platform — a full-stack, AI-native issuer-processing core that unifies card issuing, lending, money movement, settlement, financial crime, and reconciliation on a single 360° customer view with a real-time unified data layer. The company owns the processor underneath the capabilities rather than stitching together third-party systems, supporting more than 60 banks, fintechs, and enterprises across 8 MENA markets (UAE, Saudi Arabia, Qatar, Lebanon, Pakistan, Egypt, Iraq, Sudan) with 1,000+ APIs, 135+ currencies, scheme membership as a principal member of both Visa and Mastercard, and a deployment model that spans cloud, in-country on-soil, and fully on-premise installations. NymCard is regulated under PCI DSS 4.0, ISO/IEC 27001, SOC 2 Type II, PCI SSF, and holds a CBUAE Open Finance licence as a Third Party Provider on AlTareq.

The platform is organised around six product modules — Cards (debit, credit, prepaid, virtual, tokenized), Lending (BNPL, installment, revolving, working capital), Money Movement (cross-border and corridor orchestration across Visa Direct, Mastercard Cross-Border, Western Union, and MoneyGram), Settlement (multi-currency and stablecoin rails on USDC and USDT), Financial Crime (fraud, AML, sanctions, identity, 3D Secure), and Reconciliation — with the NymAI inference layer providing real-time decisioning across fraud, credit, routing, monitoring, and an agentic-AI migration workflow for transitioning customers off legacy processors. The product surface is delivered through direct enterprise sales, a developer API/SDK channel, white-label/OEM mobile and web experiences, and channel partnerships with banks, processors, and systems integrators.

NymCard monetises the platform through a combination of transaction fees (per-transaction economics on cards, cross-border payouts, FX spreads, and stablecoin settlement), recurring platform/API subscription fees, professional services revenue tied to migration and modernisation engagements, and licensing/royalty revenue from white-label OEM deployments. The lending module is structured as infrastructure-only, with NymCard not funding the underlying credit. Headcount stands at 150+ across 7 offices, total disclosed funding is over $70M (most recent: $33M Series B in March 2025 led by QED Investors), and named anchor customers include Banque Misr, Faysal Bank, AlRayan Bank, easypaisa, HugoBank, Dubai Islamic Bank, Mobilink Microfinance Bank, Saudi Payments, and Qashio.

Name

NymCard

Legal name

NymCard Payment Services LLC

Website

https://nymcard.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

101–250 employees

Short description

NymCard is an API-first payments infrastructure provider headquartered in Dubai that operates nCore, a full-stack, AI-native platform unifying card issuing, lending, money movement, settlement, financial crime, and reconciliation for 60+ banks, fintechs, and enterprises across MENA.

Ownership category

akta.pro rank

Product category

Payments Infrastructure / Banking-as-a-Service

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Software Publishers (513210)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO)

akta.pro secondary industries

Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE), Alternative Payment Methods (APM) Enablement (Wallets, A2A, Local Rails) (FSAGABAJ)

Keywords

• Card issuing infrastructure
• Embedded finance platform
• Banking-as-a-service
• Cross-border payments orchestration
• Payment processing software

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Offices7 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales, Supply Chain

Revenue model

1. Issuer processing & card program management: Revenue from processing and managing card programs (debit, credit, prepaid, virtual, tokenized) for banks, fintechs, and enterprises across 8+ markets. Implied per-transaction / per-card economics combined with platform/managed-services fees.
2. Cross-border payments, FX spreads & corridor orchestration: Monetization from cross-border payment orchestration including FX spreads (customers can set their own spreads and keep corridor revenue), per-corridor routing, and remittance/payout transaction fees across USD/PHP, USD/NGN, GBP/INR, EUR/KES and other corridors.
3. Stablecoin & multi-rail settlement services: 24/7 settlement services across stablecoin rails (USDC, USDT) and traditional scheme rails, with corridor-aware pre-funding/liquidity services; pricing tied to settled volume and corridor management.
4. Embedded lending infrastructure (BNPL, installment, revolving, working capital): Revenue from providing origination, decisioning, servicing, and collections infrastructure for credit programs; NymCard provides the infrastructure and does not fund loans, so revenue is platform/transaction-based rather than spread-based.
5. Platform / API subscriptions (nCore): Recurring platform fees for access to the nCore full-stack platform, APIs, white-label mobile/web experiences, and admin portals, configured per program and per capability (cards, lending, money movement, settlement, financial crime, reconciliation).
6. Migration, modernization & professional services: Revenue from AI-assisted migration of banks from legacy processors onto nCore, including discovery, mapping, parallel run, cutover, and re-carding — packaged as a project / managed engagement.
7. White-label / OEM licensing (apps, portals, programs): Licensing of white-label mobile, web, and admin experiences that customers rebrand and run as their own digital banking, wallet, or commercial payments product, generating licensing/royalty-style revenue.
8. Financial crime / risk services (KYC, AML, fraud, 3DS): Per-transaction and managed-service revenue from running fraud monitoring, AML, sanctions screening, identity verification, and issuer-side 3D Secure on behalf of issuers, processors, and program managers.

Pricing tiers

Go-to-market motion5 records

Distribution channels6 records

Marketing channels8 records

Core offering

NymCard sells the nCore FullStack platform, a unified, AI-native, cloud-native payments infrastructure that runs card issuing, lending, money movement, settlement, financial crime, and reconciliation on a single in-house processor with a real-time 360° customer view and an embedded NymAI inference layer. It is delivered via 1,000+ APIs/SDKs, white-label mobile and web experiences, and configurable per-program modules, and is sold to banks, fintechs, telecoms, retailers, governments, and enterprises across MENA under quote-based multi-year contracts.

Product overview

NymCard's offering is a single unified platform, nCore FullStack, with a portfolio of tightly integrated product modules. nCore FullStack is the core platform running on a 360° customer view and a real-time data core, with the NymAI Layer providing AI-native intelligence (decisioning, risk, fraud, routing, monitoring, automation) shared across every capability. On top of nCore sit six product modules: Card Issuing (debit, credit, prepaid, virtual, tokenized), Lending (BNPL, installment, revolving credit, working capital), Money Movement (cross-border, FX, corridor orchestration with built-in connectivity to Visa Direct, Mastercard Cross-Border, Western Union, and MoneyGram), Settlement (real-time, multi-currency, stablecoin rails on USDC/USDT), Financial Crime (fraud, AML, sanctions, identity, 3D Secure), and Reconciliation (automated matching across capabilities and external systems). The platform also offers Migration & Modernization as a service, White-Label Mobile App, White-Label Web Experience, and 1,000+ APIs & SDKs as delivery models. Solution bundles include Banking-as-a-Service (BaaS), Embedded Finance, Digital Wallets, and Commercial Payments, which compose the underlying product modules. Spotii (acquired in 2023) extends the platform with a BNPL-in-a-Box offering across KSA, UAE, and Bahrain.

Differentiator

Problem solved

Functional benefit

Brands

• nCore: Full-stack payments infrastructure platform owned and operated by NymCard; runs card issuing, money movement, settlement, reconciliation, lending, and financial crime as one system.
• nCore FullStack
• NymAI

Products and services

• nCore FullStack Full-stack, AI-native payments infrastructure platform that unifies card issuing, lending, money movement, settlement, financial crime, and reconciliation on a shared infrastructure layer with a 360° customer view and a real-time data core; NymCard owns the underlying processor so the capabilities run as one system rather than chained integrations.
• NymAI Layer AI-native intelligence layer built into the nCore core, providing live inference for decisioning, risk, fraud, routing, monitoring, and automation; models reason over the same real-time data the platform runs on, with reasoning attached to every decision.
• Card Issuing Issue debit, credit, prepaid, virtual, and tokenized cards on native processing with real-time controls; supports revolving credit with installments, account-linked debit, and reloadable prepaid programs with configurable limits, billing cycles, grace periods, repayment, MCC blocks, freeze/unfreeze, and KYC/AML via API.
• Lending Credit infrastructure for BNPL, installment, revolving credit, and working capital programs covering origination (KYC, KYB, digital onboarding), real-time decisioning against bureaus and open banking, disbursement to card/account/wallet, and collections with auto-dunning; NymCard provides the infrastructure and does not fund loans.
• Money Movement Cross-border payments, FX, and corridor orchestration with built-in connectivity to Visa Direct, Mastercard Cross-Border, Western Union, and MoneyGram; configure routing rules, FX spreads, settlement legs, and compliance profiles per corridor via API, supporting 42+ live corridors.
• Settlement Bank-grade real-time, multi-currency, and stablecoin settlement infrastructure that settles on USDC and USDT stablecoin rails with automated fiat-to-stablecoin bridges plus traditional card scheme rails; 24/7/365 operations with corridor-aware liquidity and pre-funding.
• Financial Crime Fraud, AML, sanctions, identity, and 3D Secure on one layer with a 360° customer view: real-time fraud decisioning on every authorization, AML transaction monitoring with configurable typologies, sanctions and PEP screening, KYC/KYB with liveness and biometric selfie match, and issuer-side 3D Secure step-up authentication, with SHAP attribution behind every score.
• Reconciliation Automated matching, exception management, and operational reporting across every capability on nCore and external systems; reconciles Cards, Lending, Money Movement, Settlement, and Financial Crime activity against external rails, banks, and partner systems with a unified ledger.
• Migration & Modernization Migration path from legacy card processors to nCore run natively inside the platform using agentic AI; phases include assessment, mapping, configuration, parallel run, and phased cutover with rollback at every step, allowing existing cards to stay active throughout the transition.
• Spotii (BNPL-in-a-Box) Buy Now Pay Later offering acquired from Spotii in June 2023 and integrated into NymCard's platform to offer BNPL-in-a-Box for banks and financial institutions across KSA, UAE, and Bahrain.
• Banking-as-a-Service (BaaS) Platform Launch a digital bank under the client's own brand with accounts, cards, payments, lending, and financial crime running on one platform connected to the existing core; includes mobile app, web experience, admin portal, and APIs/SDKs.
• Embedded Finance Embed cards, lending, payments, settlement, and financial crime directly into existing customer journeys under the client's brand; powers embedded cards, embedded lending, embedded payments, and embedded rewards on a single AI-native architecture.
• APIs & SDKs 1,000+ APIs, webhooks, implementation guides, and developer tooling that allow clients to embed nCore capabilities directly into their existing digital channels and customer journeys; documentation available at docs.nymcard.com.
• White-Label Mobile and Web Experiences White-label branded mobile and web experiences that let customers deliver cards, payments, wallets, and lending under their own brand without building from scratch.

Quantifiable outcome

• Reduces deployment timelines from years to weeks via a single integration that adds capabilities by configuration
• +5 more outcomes

Named customers19 records

Segments10 records

Ideal customer profiles7 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

AI capability12 records

Feature11 records

Partnerships

34 partnerships are on record, tiered core, flagship and minor.

• Al Dar ExchangecoreStrategic or Co-development Partner · 19 February 2026Strategic agreement to advance modern payment capabilities and support the continued evolution of payment services in Qatar.
• ApayacoreStrategic or Co-development Partner · 17 February 2026Strategic partnership (announced 16 Feb 2026) to enable Open Finance–powered, real-time account-to-account payments for UAE merchants via the Apaya payment orchestration platform.
• VisaflagshipStrategic or Co-development Partner · 2 February 2026Launched the first GCC stablecoin settlement capability for Visa transactions using USDC, enabling 24/7 settlement, reducing collateral and prefunding requirements for issuers. NymCard is also a principal member of Visa and previously joined Visa's Fintech Fast Track program in MENA and signed a strategic partnership with Visa Direct (Nov 2025) for cross-border real-time money movement.
• easypaisacoreStrategic or Co-development Partner · 12 December 2025Partnership to launch Pakistan's first fully digital credit card program, with NymCard providing the issuing infrastructure.
• Visa DirectcoreTechnology or Integration · 27 November 2025Strategic partnership with Visa Direct — Visa's global real-time money movement network — to enable banks, FIs, and enterprises across MENA and Pakistan to send cross-border transfers.
• Faysal BankcoreChannel Partner/ Reseller/ Distributor · 3 March 2025Strategic collaboration with one of Pakistan's leading Islamic banks to support financial innovation in Pakistan; Faysal Bank distributes NymCard-powered programs to its customers.
• Mobilink Microfinance BankcoreChannel Partner/ Reseller/ Distributor · 21 February 2025MoU with NymCard and Dellson Associates to strengthen collaboration in digital financial services in Pakistan.
• Nama United FinancingcoreChannel Partner/ Reseller/ Distributor · 5 February 2025Strategic partnership with a Saudi Central Bank-licensed fintech innovator offering real estate, production assets, SME, and lending products to power business payment solutions in Saudi Arabia.
• AlRayan BankcoreChannel Partner/ Reseller/ Distributor · 6 December 2024Strategic partnership with a leading bank in Qatar to drive fintech innovation and unlock new financial services.
• Ajman Transport AuthoritycoreChannel Partner/ Reseller/ Distributor · 26 September 2024Strategic agreement to introduce Visa prepaid cards through a digital app solution for transit customers.
• XpendlessminorChannel Partner/ Reseller/ Distributor · 9 September 2024Strategic partnership with a Qatari fintech startup licensed by the Qatar Financial Centre Authority and incubated by Qatar Fintech Hub.
• Banque MisrflagshipChannel Partner/ Reseller/ Distributor · 1 September 2024Strategic partnership with one of Egypt's most prominent banks to revolutionise the digital payments landscape in Egypt.
• Dubai Islamic Bank & ChargeUpcoreChannel Partner/ Reseller/ Distributor · 11 July 2024Three-way partnership to launch innovative corporate expense cards tailored for Pakistani businesses.
• HugoBankcoreChannel Partner/ Reseller/ Distributor · 30 June 2024Strategic partnership in Pakistan to redefine the payment experience in the region.
• Dellsons AssociatescoreImplementation/ SI/ Consulting Partner · 13 May 2024Partnership with the renowned banking consultancy firm in Pakistan to drive innovation and empower businesses across the Middle East and Pakistan.
• CWalletcoreChannel Partner/ Reseller/ Distributor · 14 December 2023Strategic partnership with a Qatari fintech startup (Payment Service Provider licensed by the Qatar Central Bank) to issue prepaid cards in Qatar.
• Wally, Pemo, and LamhaminorGTM or Marketing Partner · 9 November 2023Three MoUs signed with these fintechs at Seamless KSA to collaborate on payments innovation in Saudi Arabia.
• Saudi PaymentscoreStrategic or Co-development Partner · 4 September 2023MOU with the national operator of the national payments systems in Saudi Arabia to collaborate on fintech innovation at Seamless KSA.
• MastercardflagshipStrategic or Co-development Partner · 16 June 2023Mastercard certified NymCard as a Principal Mastercard Issuer in the UAE (the first UAE fintech to receive this), welcomed NymCard as a Network Enablement Partner (Sept 2021), and signed a cross-border partnership (Sept 2024) enabling fast global money transfers from the UAE to 47 countries through Mastercard. NymCard is a principal member of Mastercard.
• SpotiicoreStrategic or Co-development Partner · 12 June 2023Acquisition of Spotii (BNPL fintech operating in KSA, UAE, and Bahrain) to offer BNPL-in-a-Box for banks and financial institutions.
• Gate to PaycoreChannel Partner/ Reseller/ Distributor · 18 August 2021Partnership with Jordan's leading digital payment solutions provider (principal member with Visa and Mastercard) to power fast-track card issuing and grow Jordan's fintech ecosystem.
• Visa (Fintech Fast Track)coreStrategic or Co-development Partner · 8 February 2021Joined Visa's Fintech Fast Track Program in MENA (May 2021) to accelerate growth of MENA fintechs by enabling them to fast track card issuing; Visa partnership announced separately to support MENA fintechs to launch card programs.
• INC IraqcoreChannel Partner/ Reseller/ Distributor · 8 February 2021Collaboration with Visa to launch the first digital-only (prepaid) payment card 'Neo' in Iraq, serving the unbanked population.
• FexcocoreTechnology or IntegrationPartnership to provide Treasury-as-a-Service for multi-currency issuer programmes across MENA, optimizing cross-border settlement and reducing cost/risk.
• Fintech Payment Solutions (FPS)coreImplementation/ SI/ Consulting PartnerPartnership to bring end-to-end digital payment solutions to fintechs in MENA.
• NexxocoreStrategic or Co-development PartnerPartnership to enable frictionless issuing across Nexxo's global network for underbanked SMEs in emerging markets.
• BankiomminorChannel Partner/ Reseller/ DistributorOnboarded MENA's super-money app to launch payment cards using NymCard's BaaS platform.
• Toppan FutureCardcoreTechnology or IntegrationMOU with the Visa/Mastercard payment card vendor to be onboarded on NymCard's open APIs platform, giving clients choice in card manufacturing.
• Electronic Document Center (EDC)coreTechnology or IntegrationMOU with the Visa/Mastercard payment card vendor to be onboarded on NymCard's open APIs platform, giving clients choice in card manufacturing.
• Western UnioncoreTechnology or IntegrationBuilt-in cross-border payout / remittance network available to NymCard customers as part of Money Movement orchestration (used as primary or fallback route in corridors such as EUR→KES).
• MoneyGramcoreTechnology or IntegrationBuilt-in cross-border payout network available to NymCard customers as part of Money Movement orchestration (used as primary or fallback route in corridors such as GBP→INR).
• Visa DirectcoreTechnology or IntegrationBuilt-in real-time money movement rail used in NymCard's Money Movement corridors (e.g., USD→PHP primary route).
• Mastercard Cross-BordercoreTechnology or IntegrationBuilt-in cross-border payments rail available to NymCard customers (e.g., USD→NGN primary route via Mastercard XB).
• Circle (Arc blockchain)coreTechnology or IntegrationVisa — NymCard's scheme partner — is a design partner on Circle's Arc blockchain, which underpins the USDC stablecoin settlement rail that NymCard uses for GCC settlement.

Scale indicators16 records

Recent moves8 records

Expansion highlights8 records

Direct peers

• Marqeta: US-listed card-issuing platform that provides API-first processing for fintechs and banks. Directly comparable to NymCard's card-issuing and processing core; Marqeta is the global benchmark for the model NymCard is replicating in MENA.
• Galileo Financial Technologies (SoFi): Card-issuing and payments processing platform for banks and fintechs, owned by SoFi. Closely comparable to NymCard's nCore across debit, credit, prepaid, fraud and lending infrastructure, and a likely long-term competitor in any market Galileo enters.
• Network International (Brookfield): MENA-based payments processor acquired by Brookfield. The dominant incumbent payment infrastructure provider across the GCC and Africa; competes head-on with NymCard for the same bank and fintech customers in UAE, Egypt and KSA.
• Highnote: US-based card-issuing and embedded payments platform targeting banks and fintechs. Closely comparable to NymCard's full-stack issuing + money-movement + financial-crime pitch and a likely competitive template as NymCard expands outside MENA.
• Currencycloud (Visa-owned): Cross-border payments and FX-as-a-service platform, acquired by Visa. Comparable to NymCard's Money Movement and multi-currency settlement modules and a Visa-affiliated competitor with deep corridor coverage.

Broad incumbents

• Stripe (Issuing, Treasury, Connect): Global payments and embedded finance platform with card-issuing, treasury, and money-movement capabilities. A broader incumbent whose Issuing product overlaps directly with NymCard's core card-issuing API offering.
• Adyen: Global unified payments platform serving large enterprises including banks. Comparable on the acquiring/settlement and money-movement side of NymCard's stack rather than core issuer processing.

Regional players

• Tarabut (MENA): MENA-based open banking platform operating under similar UAE CBUAE Open Finance rules that NymCard now also holds a TPP license under. Closest regional competitor on the A2A and open-finance rails that complement NymCard's card core.

Emerging players

• Pomelo: Latin American card-issuing and processing platform for fintechs and banks. A regional emerging peer with similar API-first issuing architecture, useful as a comparable on the 'emerging markets, single-stack' thesis.
• Lean Technologies: MENA open-finance and account-aggregation platform integrated with CBUAE's AlTareq. Comparable on the A2A payment initiation and data layer adjacent to NymCard's new Open Finance TPP license.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/nymcard
• Xx.com/nymcard
• Facebookfacebook.com/nymcardplatform

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds9 records

Investors19 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NymCard