NOW Money, a UAE-based digital account service, announced on Wednesday it has joined forces with Visa to provide low-income customers in the Gulf region access to its full-service digital banking solution.
Founded in 2015, NOW Money claims it uses “cutting-edge” mobile technology to improve the lives of low-income migrant works in the UAE.
“Our mission is to help workers access financial and remittance services otherwise out of reach, for the first time providing them with direct access to a current account, debit card and remittance directly from our proprietary NOW Money smartphone app and service center.”
Through the collaboration, customers will receive a Visa payment card and a NOW Money account, which requires no minimum balance. While sharing more details about the partnership, Katharine Budd, NOW Money Co-Founder, stated:
“The Visa and NOW Money partnership takes our customers beyond convenient banking, into quality banking. As well as being the leading card scheme for our markets, Visa has a host of initiatives to offer account holders, including merchant offers. This is a monumental step forward on our mission to ensure no person is excluded from accessing the highest quality financial services.”
NOW Money went on to add that the partnership will strengthen the positive experience customers’ associate with convenient, non-cash-based payments, and will provide a frictionless personal finance experience through Visa offers and products.