Paymentology, the leading global issuer processor, has signed a referral partnership with Zand Bank, the UAE’s first fully licensed, all-digital bank. This collaboration focuses on expanding financial services for fintech's and startups, aiming to accelerate innovation and growth in the UAE.
Since 2022, Zand Bank has empowered UAE and global corporate, institutional, and wealth clients to unlock new opportunities, foster sustainable growth, and drive positive impacts in the digital economy.
Through this partnership, Paymentology and Zand will enable fintech's to thrive by offering a range of specialised services, including BIN-sponsorship, virtual IBANs, and Client Money Accounts. These services are designed to help fintech's launch and scale faster, providing them with the infrastructure to bring their solutions to market efficiently.
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. The partnership between Paymentology and Zand supports this vision, offering fintechs the necessary tools to innovate, while reinforcing the UAE’s position as a regional and global hub for the digital economy.
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. The robust infrastructure and compliance framework provided will enable fintech's to focus on innovation and customer acquisition, contributing to the growth of the UAE’s digital economy.
