NymCard adds Philippines to its ‘Fast-Track Issuing’ list of countries in Southeast Asia

NymCard partners with Netbank to assist its fintech clients expansion plans across Southeast Asia and MENA regions

MENA’s leading Banking-as-a-service (BaaS) provider and modern card issuing platform NymCard signed a strategic partnership with Netbank, a fully regulated Bank, allowing fintechs to Fast-Track their launch and rapidly scale up in the Philippines.

NymCard’s partnership with Netbank, a principal member with Mastercard, aims to remove much of the friction from card issuing, opening more bridges for its fintech clients to passport their card programs to the Philippines.

In addition to accelerating innovation in the Philippines, Filipino fintechs will be able leverage NymCard’s BaaS platform to launch their card programs across 5 other markets in MENA and Southeast Asia allowing them to scale up their card programs at a much faster rate.

NymCard’s ‘Fast-Track Issuing’ list of countries is growing exponentially including leading fintech hubs like the UAE, Bahrain, Jordan, Iraq, Malaysia, and now the Philippines with more countries expected to join the list in 2022.

“To spur innovation, Netbank is partnering with global leaders like NymCard to provide their clients with the ability to fast-track their card issuance and scale up at speed. We look forward to working with NymCard to roll out a range of payment programs”, said Gus Poston, Founder of Netbank. “This is merely a first step, Netbank will rapidly add partnerships to drive innovation and bring new payment flows to the Filipino market. We strongly believe that this will accelerate the BSP’s program to promote digital payments”.

“We are very happy to start off 2022 by adding the Philippines to our Fast-Track Issuing list of countries. This is part of our commitment to remove much of the friction and enable the fintech ecosystem across the MEA and SEA regions”. Said Omar Onsi, CEO and Founder of NymCard.

“With over 50% of the underbanked adult population, the Philippines is a ripe ground for alternative banking and fintech solutions. We previously enabled clients in Malaysia and now, through our exciting partnership with Netbank, we are growing our Fast-Track Issuing capability in the Philippines as well, allowing our worldwide clients to launch and scale their card programs in any market in our network”. Added Omar.