Paymentology, a leading global issuer processor, has signed a referral partnership with Zand Bank, a fully licensed, all-digital bank in the UAE. This collaboration focuses on expanding financial services for FinTechs and start-ups, aiming to accelerate innovation and growth in the UAE.
Through this partnership, Paymentology and Zand will enable FinTechs to thrive by offering a range of specialised services, including BIN-sponsorship, virtual IBANs and Client Money Accounts. These services are designed to help FinTechs launch and scale faster.
The timing aligns with the UAE government’s push to establish a strong digital economy through the UAE Digital Economy Strategy, which aims to double the sector’s contribution to the nation’s GDP from 9.7% (April 2022) to 19.4% over the next decade.
By lowering the barriers to entry for new FinTech players and accelerating financial innovation, the partnership will create a more inclusive and efficient financial ecosystem.