NymCard acquires Spotii to offer BNPL-in-a-box for banks and financial institutions

NymCard acquires Spotii to offer BNPL-in-a-box for banks and financial institutions

Dubai: NymCard, the leading payments infrastructure provider in the MENA region, has completed the acquisition of Spotii, a prominent Buy Now Pay Later (BNPL) Fintech operating in key markets including KSA, UAE, and Bahrain. This strategic move positions NymCard to offer its financial services client base a fully customisable BNPL product tailored to their specific needs and local markets. The acquisition marks a significant milestone in democratizing BNPL services in the region.

Spotii was originally established as a direct-to-consumer BNPL service with a base of over 1 million registered customers and over 1,500 merchant partners. This acquisition combines Spotii’s leading technology, risk engine and market expertise with NymCard’s powerful BaaS and Card Issuing platform, presenting prospective clients with a powerful solution to offer credit-on-demand products.

The integrated platform will serve both B2C and B2B markets seamlessly, enabling instant installment options through its nine modules. These modules encompass cutting-edge features such as eKYC, AI-driven OCR, machine learning-powered rules, cohort-based risk engine with intelligent risk assessment, a fully configurable Loan Management System, AI-driven collections app, decision-making processes and more.

"Spotii significantly expands the range of BaaS products and services available to NymCard clients, greatly reducing barriers to launch new innovative products” shared Omar Onsi, CEO