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Numa and Visa Partner to Accelerate Expansion across MENA

By Oluchukwu Ikemefuna

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Numa, a leading fintech startup that specializes in providing financial services to individuals and businesses in the Middle East and North Africa,  has partnered with Visa, a major digital payment system in the world.

Numa

This strategic partnership to expand across MENA is a great move as it shows the innovation spirits both have. 

Aim of The Partnership Between Visa and Numa 

The partnership aims to fulfill one of Numa’s missions to bridge the financial services gap for individuals and businesses. It will also help Numa to venture into new markets and explore more opportunities in the financial industry. 

Numa was launched by Loay Malahmeh and Issam Najm in 2021, and it has been performing great feats since then. The company aims to fill the gap the traditional banking system has left open due to negligence and other factors. With the app, freelancers and businesses can have better control over their finances and not face too many problems with financial issues. 

Numa Plans To Expand Further Into Mena 

Numa, formerly Banki, is a professional banking solutions suite that simplifies financial and administrative activities for over  40 million underbanked freelancers, creators, and self-employed professionals in the Arab world. 

It empowers freelancers in MENA with professionally tailored banking in the form of Virtual IBANs, Virtual VISA Cards, Transfers, Business Growth Tools, and Community.

Numa is a financial technology company, not a bank, and banking services are provided by their banking partners.

Visa has decided to invest in Numa, so they can expand into Saudi and UAE markets. Numa will be making use of this opportunity to explore new markets and create more innovations. 

The Strategic Alliance Between Numa and Visa 

Numa released a statement on their LinkedIn “We are excited to announce a transformative partnership with Visa, marking a significant milestone in Numa’s journey to redefine fintech for #freelancers and micro businesses across the MENA region.”

The startup also stressed that the company is expanding beyond Jordan into Saudi Arabia and UAE, which was described as a leap forward for the company. 

The statement further read “A heartfelt thank you to our dedicated team, our visionary partners, and Visa for their trust and support. Together, we are poised to make financial services more accessible, driving growth and innovation for the freelance and micro business communities across the MENA region!”

This partnership shows the world that Visa has a great commitment to fostering financial inclusion and supporting a growing business for the betterment of the continents, especially the MENA region.

“Our partnership with Visa is a critical step toward realizing our vision of providing comprehensive financial services to freelancers, who have long been underserved by traditional banking systems,” said Malahmeh. 

Conclusion 

The alliance is expected to fast-track Numa’s expansion into Saudi and UAE markets while making use of Visa’s global expertise in online payments. 

“Visa’s global reach and expertise are a game changer to fintechs eyeing geographical expansion. Our strong presence and expertise in the markets where we operate enable our partners to fast-track their expansion plans. Our partnership with Numa not only fosters financial inclusion but also supports the growing freelance market in the MENA region,” the VP and Head of Digital Partnerships for Visa in the Central and Eastern Europe, Middle East, and Africa region, Hasan Kazmi said.

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Abdullahi Kafayat
Abdullahi Kafayat

Abdullahi Kafayat is an enthusiastic writer interested in the tech world. She's a graduate of Obafemi Awolowo University and has a BSc in Chemistry. You can reach her at Kafayatabdullahi17@gmail.com.

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