FOO, a B2B fintech solutions provider headquartered in the UAE, has partnered with the Bahrain-based payment services provider and card processor, Infinios Financial Services B.S.C (C).
By combining their technology and expertise, the two companies “will deliver an out-of-the-box Digital First Card Issuance Platform.”
The Digital First Card Platform is “designed to enhance digital offerings for businesses across industries, ultimately improving the end user’s customer experience.”
The platform works by “delivering instant, easy-to-use virtual and physical cards which can be used for e-commerce transactions or app payments.”
This partnership between FOO and Infinios will “enable businesses to adapt to the market and meet consumer demands for secure and convenient payment solutions.”
With this, financial institutions, telecommunications companies, and retailers can now embrace the power of fintech “to provide their customers with a seamless purchasing experience.”
The full-fledged Digital First Card Platform “includes smooth onboarding, instant digital card issuance, real-time card management, and secure online and in-store payments.”
Ghady Rayess, Managing Partner at FOO, comments:
“In a world where technology and innovation thrive, consumers worldwide have elevated their expectations, demanding seamless experiences across all touchpoints in their daily lives. With this partnership, we will accelerate the pace of digital advancement by empowering our clients to create feature-rich customer financial services, through scalable solutions.“
FOO specializes in “developing solutions in-house using a modular platform consisting of micro-services, to provide highly personalized products that empower digital transformation.”
Infinios, through its integrated processing technologies, regulatory licenses, and payment network memberships, “provides banking-as-a-service enabling Fintechs, brands and digital platforms to embed financial services into their own products leveraging Infinios’ API’s.”
Together, the two companies will “deliver a complete turnkey solution encompassing all the necessary elements to enable virtual card issuance services within any industry.”
The integration process is “made simple through easy-to-integrate APIs, allowing for an exceptionally swift time-to-market.”
Andrew Sims, Co-founder and CEO at Infinios, added:
“This strategic alliance represents a continuation of our strategy to enable fintech companies to rapidly develop their own digital financial services products leveraging our banking-as-a-service. The partnership approach leverages our combined strengths to deliver innovative solutions and address new opportunities, marking exciting times for our existing and potential clients, and the industry as a whole.”
As noted in the update, FOO is a B2B SAAS solution provider, “headquartered in the UAE, that specializes in empowering businesses through digital transformation.”
FOO provides innovative fintech solutions, “built entirely in-house, that optimize digital capabilities for clients across diverse industries and enable them to deliver an unparalleled user experience.”
FOO reportedly works “with banks, fintech companies and key retailers across the MENA region, Africa, Europe and USA, including Mastercard, Visa, Benefit, Zain Group, PwC and MAF.”
FOO’s innovative platform “is modular, built on digital micro-services that can be assembled to meet the specific requirements of each client.”
This approach, coupled with extensive regional experience, “enables FOO to create super personalized digital products with a fast time to market.”
FOO’s key products “include solutions for remittances, digital wallets, tokenized transactions, fully automated micro-lending and BNPL.”