NOW Money
NOW Money is a Dubai-based fintech that provides WPS-compliant digital payroll processing and a multilingual mobile banking app for employers of low-income migrant workers in the GCC, monetising via per-record payroll fees, remittance take-rates, and card interchange across 510+ employer clients.
- Company typePrivate
- Founded2015
- HeadquartersDubai, United Arab Emirates
- Headcount51–100
- GTM typeB2B
- OfferingServices
What NOW Money does
NOW Money, operated by N O W Payment Services Provider LLC (company number 767072), is a Dubai-headquartered fintech founded in 2015 that provides digital payroll processing and mobile banking services specifically for employers of low-income and migrant workers in the GCC. Its core platform combines a WPS-compliant employer payroll portal (priced at 0.50 AED per salary record) with a fee-free, multilingual employee mobile bank account available in 8 languages, supported by Mastercard/Visa debit cards, a multi-FX remittance marketplace, salary advance functionality, and financial literacy content. The company holds WPS agent status, PCI DSS certification, and operates with regulatory oversight from the UAE Central Bank.
The technology stack is built in-house, consisting of an employer-facing payroll dashboard with bulk payment templates and SIF/WPS file generation, customer-facing iOS and Android apps, and integration layers to banking partners (Commercial Bank of Dubai, Commercial Bank of International, Network International) and card networks. Notable technical differentiators include branchless onboarding (no minimum salary threshold), a remittance marketplace routing users to multiple FX and payout partners, and the first UPI cross-border remittance option in the GCC.
Revenue is generated primarily through transaction-based fees: per-record WPS payroll charges from employers, take-rates on international remittances via the FX marketplace, and card/interchange fees on employee spending. The employee account is positioned as freemium (no minimum balance, no monthly fees), with monetisation occurring at transaction points. The go-to-market is a sales-led B2B model targeting employers in hospitality, construction, retail, cleaning, and logistics with low-income workforces, supplemented by bank-partnership distribution channels. The company has processed over 10.97 million transactions and AED 2.8 billion+ in salary disbursements across 510+ employer customers.
NOW Money firmographics
Firmographics- Name
- NOW Money
- Legal name
- N O W Payment Services Provider LLC
- Website
- https://nowmoney.me
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- NOW Money is a Dubai-based fintech that provides WPS-compliant digital payroll processing and a multilingual mobile banking app for employers of low-income migrant workers in the GCC, monetising via per-record payroll fees, remittance take-rates, and card interchange across 510+ employer clients.
- Ownership category
- akta.pro rank
NOW Money industry classification
Industry- Product category
- Digital Banking and Payroll
- NAICS
- Payroll Services (541214), Accounting, Tax Preparation, Bookkeeping, and Payroll Services (54121)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Employer Payroll Processing (SMB & Enterprise) (FSAMAKAA)
- akta.pro secondary industries
- Embedded Payroll, Earned Wage Access & Benefits Finance (FSAGALAI), Cross-Border B2B2C Payouts (Mass Payouts, Gig/Creator, Marketplace) (FSAGAKAC)
Keywords
Where NOW Money is headquartered
LocationHeadquarters
- HQ city
- Dubai
- HQ country
- United Arab Emirates
- HQ region
- Middle East
Offices1 record
Markets served
NOW Money business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Supply Chain
Revenue model
- Payroll Processing Fees: NOW Money charges employers a fee per payroll transaction. For WPS salaries, the cost is 0.50 AED per record. This is a transaction-based revenue model where the company earns per salary payment processed through its platform.
- International Money Transfers/Remittances: The company generates revenue through competitive charges on money transfers sent by employees to their home countries. The remittance marketplace connects users to multiple FX partners, with NOW Money earning a margin on exchange rates or transaction fees.
- Banking Services for Employees: Free digital accounts and debit cards for employees (no minimum balance required), with revenue generated from transaction fees on card usage, ATM withdrawals, and ancillary banking services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | WPS Salary Processing - 0.50 AED per record |
| Freemium | Monthly | Free Employee Accounts |
| Transaction based/ take rate | Multi-year contract | Enterprise Payroll Solutions |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
NOW Money product offering
Product offeringCore offering
NOW Money sells a digital payroll platform that lets UAE/GCC employers pay low-income migrant workers compliantly through the Wage Protection System at 0.50 AED per record, paired with a multilingual mobile banking app that gives those employees fee-free accounts, Mastercard debit cards, and an FX-partner remittance marketplace. The end-to-end offering replaces cash-based payroll and remittances with a unified digital stack accessed via employer portal and employee app.
Product overview
NOW Money is a digital payroll and mobile banking platform designed specifically for businesses employing low-income and migrant workers in the GCC region. The product portfolio consists of two core offerings: NOW Money Payroll (a digital payroll platform for employers with WPS compliance) and the NOW Money Mobile Bank App (an award-winning mobile banking application with debit card). These are supported by international remittance services featuring a marketplace of FX partners, salary advance capabilities, and financial literacy resources. The platform connects employers to employees through a unified system where salaries are processed digitally and employees receive free mobile bank accounts with fee-free international money transfers. The company operates as a WPS-approved agent in the UAE and partners with Mastercard for card issuance.
Differentiator
Problem solved
Functional benefit
Products and services
- NOW Money Payroll Digital payroll platform that enables GCC employers to pay low-income workers securely through the Wage Protection System (WPS) at 0.50 AED per record. Supports bulk payment uploads, flexible payment cadences (daily, weekly, monthly) without extra charges, and provides salary-linked employee mobile bank accounts.
- NOW Money Mobile Bank App Multilingual mobile banking application providing low-income employees with fee-free accounts, salary receipt notifications, international remittances, mobile recharges, and debit card management. Available in 8 languages (English, Hindi, Tamil, Malayalam, Urdu, Tagalog, Nepali, Arabic) on iOS and Android.
- NOW Money Debit Card Physical debit card issued through Mastercard and Visa partnerships, enabling ATM withdrawals, in-store purchases, and online transactions for employees in UAE and globally.
- International Remittance Services Digital remittance marketplace enabling employees to transfer money to their home countries using multiple FX partners and hundreds of payout partners worldwide, with competitive exchange rates and instant transfer options including the first UPI remittance integration in the GCC.
- Salary Advance Early wage access feature allowing employees to receive a portion of their earned salary before the standard pay date, helping low-income workers manage financial emergencies without resorting to predatory lending.
- NOW Money Banking Subscription for Migrant Workers Subscription-based banking product for migrant workers introduced under the new ownership following the 2023 acquisition, expanding NOW Money's monetisation beyond pure payroll fees.
- WPS Compliance Services Regulatory compliance service enabling UAE employers to process salary payments through NOW Money as an approved WPS agent, including SIF file generation and submission at 0.50 AED per record.
Quantifiable outcome
- Over 10.97 million transactions processed through the platform
- +4 more outcomes
Companies that use NOW Money
Customer profileNamed customers7 records
Segments3 records
Ideal customer profiles3 records
NOW Money technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature6 records
NOW Money partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and flagship.
- Commercial Bank International (CBI)coreStrategic partnership with Commercial Bank International (CBI) for banking services. CBI is a key banking partner providing the underlying financial infrastructure for NOW Money's digital banking services.
- Network InternationalcoreStrategic partnership with Network International, a leading payments technology provider in the Middle East and Africa. Network International provides payment processing infrastructure and technology integration services.
- MastercardcoreStrategic partnership with Mastercard to empower NOW Money customers with enhanced financial access through Mastercard-branded cards. The partnership enables NOW Money to issue Mastercard debit cards accepted globally, providing employees with worldwide ATM access and merchant payment capabilities.
- VisacorePartnership with Visa to transform the banking experience for low-income workers across the UAE. Visa partnership enables card issuance and payment processing infrastructure.
- Commercial Bank of DubaicorePartnership to provide accounts and cards targeted specifically at low-income CBD customers. NOW Money opens accounts for existing CBD low-income customers, allowing them to benefit from a frictionless digital experience. Joint aim is to give lower-income people access to the digital financial system.
- Bill and Melinda Gates FoundationflagshipNOW Money was selected by the Bill and Melinda Gates Foundation to work with IDEO, a California-based design firm, to redesign their app to create digital financial services for unbanked and new internet users. A prestigious recognition of the company's social impact mission.
Scale indicators9 records
Recent moves8 records
Expansion highlights6 records
NOW Money competitors and assessment
Company assessmentDirect peers
- YAP: YAP is a digital banking platform operating across the UAE and broader MENA, providing accounts, cards, and remittance services targeting migrant workers and underbanked users. Direct competitor to NOW Money with a similar employer/employee digital banking model in overlapping GCC markets.
- Wio Bank: Wio Bank is a UAE-licensed digital bank offering business and personal accounts, payroll, and remittance services. Competes directly with NOW Money on digital payroll and embedded banking, but serves a broader customer base including SMEs and corporates rather than specializing in low-income workers.
- Mashreq Neo: Mashreq Neo is the digital banking arm of Mashreq Bank in the UAE, providing payroll accounts, mobile banking, and remittance services. Competes with NOW Money on UAE digital payroll and remittance, particularly for migrant worker segments.
- Al Ansari Exchange: Al Ansari Exchange is the largest remittance and foreign exchange provider in the UAE with extensive branch and digital network. Overlaps with NOW Money on remittance services for migrant workers, but operates a branch-heavy cash model versus NOW Money's mobile-first approach.
Broad incumbents
- Remitly: Remitly is a publicly listed US-based digital remittance company serving migrant corridors globally. Competes with NOW Money's remittance marketplace offering, especially on UAE-to-South Asia corridors, but does not offer employer-tied payroll accounts.
- Zepz (WorldRemit/Sendwave): Zepz operates WorldRemit and Sendwave, two of the largest digital remittance platforms serving African and Asian corridors. Comparable to NOW Money on cross-border remittance flows for migrant workers but without employer payroll integration.
- Payit (First Abu Dhabi Bank): Payit is FAB's digital payments and payroll platform in the UAE, offering salary disbursement and account services. Competes with NOW Money on WPS-aligned payroll processing from an incumbent bank position with broader corporate banking relationships.
- Careem Pay: Careem (Uber-owned) operates a super-app with embedded payments and financial services across MENA including the UAE. Touches NOW Money's space on digital payments and remittance for low-income workers, though payroll is not its core focus.
Emerging players
- Mamo Pay: Mamo Pay is a UAE-based fintech offering digital payments, payroll, and remittance services to SMEs and individuals. Overlaps with NOW Money on digital payroll and migrant remittance but with a broader SMB focus rather than low-income worker specialization.
- NALA (formerly Nala Money): NALA is a UK/Tanzania-based remittance fintech serving African migrant workers globally, with growing UAE presence. Comparable to NOW Money on migrant remittance use cases but without employer payroll integration or GCC licensing.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
NOW Money social profiles
Digital presenceNOW Money compliance and trust
Trust signalCompliance3 records
NOW Money financial estimates
Financial estimateRevenue estimate
Valuation estimate
NOW Money leadership team
Management profileNumber of profiles
Profiles10 records
NOW Money funding detail
Funding detailFunding overview
Funding rounds7 records
Investors15 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NOW Money M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about NOW Money
What does NOW Money do?
NOW Money sells a digital payroll platform that lets UAE/GCC employers pay low-income migrant workers compliantly through the Wage Protection System at 0.50 AED per record, paired with a multilingual mobile banking app that gives those employees fee-free accounts, Mastercard debit cards, and an FX-partner remittance marketplace. The end-to-end offering replaces cash-based payroll and remittances with a unified digital stack accessed via employer portal and employee app.
Is NOW Money a public or private company?
NOW Money is a private company. It is classified as venture growth investor backed and is currently operating.
When was NOW Money founded?
NOW Money was founded in 2015. It employs 51 to 100 people.
Where is NOW Money based?
NOW Money is headquartered in Dubai, United Arab Emirates, in the Middle East region.
How does NOW Money make money?
Three revenue lines are on record. Payroll Processing Fees are the primary driver. The others are international Money Transfers/Remittances and banking Services for Employees.
Who are NOW Money's main competitors?
Direct peers on record are YAP, Wio Bank, Mashreq Neo and Al Ansari Exchange. Broad incumbents are Remitly, Zepz (WorldRemit/Sendwave), Payit (First Abu Dhabi Bank) and Careem Pay. Emerging players are Mamo Pay and NALA (formerly Nala Money).
Does NOW Money have an API?
No public API is recorded for NOW Money.
What industry is NOW Money in?
NOW Money's product category is Digital Banking and Payroll. Its primary akta.pro industry code is FSAMAKAA, Employer Payroll Processing (SMB & Enterprise), with a secondary code of FSAGALAI, Embedded Payroll, Earned Wage Access & Benefits Finance. Its NAICS code is 541214 and its SIC code is 6199.