Tarabut Gateway partners with Visa to accelerate growth and redefine open banking in MENA

Tarabut Gateway partners with Visa to accelerate growth and redefine open banking in MENA

Dubai, United Arab Emirates: Tarabut Gateway, the Middle East and North Africa’s (MENA’s) leading open banking platform, announces a strategic partnership with the global digital payment leader Visa.

The two companies will collaborate on developing new products and solutions using open banking capabilities. The initial focus will be on creating data-driven offerings such as credit risk assessments, advanced analytics, and insights. Additional solutions anticipated will involve cross-border payments and lending.

The partnership will elevate product offerings through technology and expertise collaboration, enhance customer experiences, streamline cross-border transactions, and foster innovation and cooperation across the financial ecosystem.

This announcement follows Tarabut Gateway’s recent US$32 million fundraise, in which Visa participated as an investor - marking their first venture into the MENA open banking sector - and cementing the two companies’ financial and operational collaboration moving forward.

The investment in Tarabut Gateway is consistent with Visa’s open banking strategy to partner and invest in leading companies for the co-development of innovative products and solutions and follows last year’s acquisition of Tink, one of Europe’s leading open banking platforms.

Abdulla Almoayed, Founder and CEO of Tarabut Gateway, said:

“We are excited to announce our strategic partnership with Visa, a world-class brand. Our existing close relationship, through Visa's investment in