Digital payment and banking technology provider i2c has partnered with financial services giant Visa to becoming its fintech processor in the Middle East and North African (MENA) region.

The first-of-its-kind partnership for fintechs in the MENA region will provide secure and modern payment and processing services.

Providing Modern Payment Service In The Region

The partnership will also enable the region’s financial visionaries to go-to-market quicker and provide innovation across different products and services. These include loyalty, BNPL, cryptocurrency, credit, prepaid, debit, virtual cards, and more.

The collaboration has also opened the doors for fintechs in the region to have access to Visa’s global network. It will also enable users to tap into the processing platform of i2c, with both companies offering combined advanced payment technologies for users in the region.

“We are honored to have partnered with Visa for Fintech Onboarding in the MENA region,” said Chief Executive Officer of i2c, Amir Wain.

He added that there is a great opportunity to derivation and speed up financial access in emerging markets. MENA region witnesses high growth in fintech

While commenting on the development, Visa’s regional President for CEMEA, Andrew Torre, stated that the firm is excited about the partnership. The company is looking forward to a great working relationship with leading partners that will bring fintech expertise and deep market understanding.

Torre added that the partnership will speed up the rate at which fintech firms across the MENA region develop innovative payment solutions. He noted that the solutions will e built on the foundation of the Visa network.

The partnership deal between both firms is coming at a period the MENA region is experiencing extraordinary fintech growth. The region still has an estimated 60 million untapped merchants and over 600 million unbanked persons. This makes it a massive market for fintech innovation and expansion.