Warning: Uninitialized string offset 0 in /srv/users/amstribuneusr12/apps/berlinverdict-aws/public/wp-includes/class-wp-recovery-mode-email-service.php on line 1

Warning: Uninitialized string offset 0 in /srv/users/amstribuneusr12/apps/berlinverdict-aws/public/wp-includes/class-wp-recovery-mode-email-service.php on line 1

Warning: Uninitialized string offset 0 in /srv/users/amstribuneusr12/apps/berlinverdict-aws/public/wp-includes/class-wp-meta-query.php on line 1

Warning: Uninitialized string offset 0 in /srv/users/amstribuneusr12/apps/berlinverdict-aws/public/wp-includes/class-wp-meta-query.php on line 1

Warning: Uninitialized string offset 0 in /srv/users/amstribuneusr12/apps/berlinverdict-aws/public/wp-includes/class-wp-user-query.php on line 1

Warning: Uninitialized string offset 0 in /srv/users/amstribuneusr12/apps/berlinverdict-aws/public/wp-includes/class-wp-user-query.php on line 1

Warning: Uninitialized string offset 0 in /srv/users/amstribuneusr12/apps/berlinverdict-aws/public/wp-includes/script-loader.php on line 1

Warning: Uninitialized string offset 0 in /srv/users/amstribuneusr12/apps/berlinverdict-aws/public/wp-includes/script-loader.php on line 1

Warning: Uninitialized string offset 0 in /srv/users/amstribuneusr12/apps/berlinverdict-aws/public/wp-includes/media.php on line 1

Warning: Uninitialized string offset 0 in /srv/users/amstribuneusr12/apps/berlinverdict-aws/public/wp-includes/media.php on line 1

Warning: Uninitialized string offset 0 in /srv/users/amstribuneusr12/apps/berlinverdict-aws/public/wp-includes/class-wp-application-passwords.php on line 1

Warning: Uninitialized string offset 0 in /srv/users/amstribuneusr12/apps/berlinverdict-aws/public/wp-includes/class-wp-application-passwords.php on line 1

Warning: Uninitialized string offset 0 in /srv/users/amstribuneusr12/apps/berlinverdict-aws/public/wp-includes/rest-api/endpoints/class-wp-rest-global-styles-revisions-controller.php on line 1

Warning: Uninitialized string offset 0 in /srv/users/amstribuneusr12/apps/berlinverdict-aws/public/wp-includes/rest-api/endpoints/class-wp-rest-global-styles-revisions-controller.php on line 1

Warning: Uninitialized string offset 0 in /srv/users/amstribuneusr12/apps/berlinverdict-aws/public/wp-includes/rest-api/endpoints/class-wp-rest-menu-items-controller.php on line 1

Warning: Uninitialized string offset 0 in /srv/users/amstribuneusr12/apps/berlinverdict-aws/public/wp-includes/rest-api/endpoints/class-wp-rest-menu-items-controller.php on line 1

Warning: Uninitialized string offset 0 in /srv/users/amstribuneusr12/apps/berlinverdict-aws/public/wp-includes/rest-api/endpoints/class-wp-rest-font-families-controller.php on line 1

Warning: Uninitialized string offset 0 in /srv/users/amstribuneusr12/apps/berlinverdict-aws/public/wp-includes/rest-api/endpoints/class-wp-rest-font-families-controller.php on line 1
Mamo Partners with CredibleX to Launch Credit Cards for UAE Businesses | Berlin Verdict

Mamo Partners with CredibleX to Launch Credit Cards for UAE Businesses

Dubai, UAE – October 31, 2024 – Mamo, a leading payments solutions provider in the UAE, announced a strategic partnership with CredibleX to introduce a credit card offering for small and medium-sized enterprises (SMEs) in the UAE. This partnership will help businesses address critical gaps in their working capital needs, and will provide a lifeline to those that operate in specific sectors such as retail and e-commerce. Mamo’s goal is to help these businesses to thrive in today’s competitive market.

[Left to Right: Imad Gharazeddine, co-founder & CEO, Mamo; Anand Nagaraj, co-Founder & CEO, CredibleX]

Through this collaboration, Mamo and CredibleX will launch an innovative corporate credit card specifically designed to address the short-term lending needs of SMEs. The credit card will provide businesses with spend management, spend limits, expense management, and more. SMEs can look forward to numerous benefits, including real-time expense tracking, department budgets across cards, multi-currency spending capabilities, a streamlined approval process, and up to 3% cashback — giving them the peace of mind necessary to focus on business growth and expansion.

Small and medium enterprises are crucial drivers of the UAE’s economy, contributing to over 94% of total businesses. Despite this, only 10.4 percent of the total accumulated balance of financial facilities and loans reaches such businesses. With SMEs set to play an even larger role in shaping the UAE’s future, the demand for flexible financial products, such as credit cards, has surged over the last few years. Mamo’s partnership with CredibleX aims to address the gap and provide businesses with the tools they need to manage day-to-day expenses more effectively.

“Partnering with CredibleX is an important step in our journey to empower businesses with an all-in-one payment solution that not only helps them survive, but helps them thrive. Our goal is to help SMEs in the UAE become wealthy. We provide businesses with tools that are as empathetic as they are beautiful. Our products are built with purpose, trust and transparency by a team that shares these values. This partnership strengthens our ability to deliver on that promise”, commented Imad Gharazeddine, co-founder and CEO of Mamo.

“We are delighted to partner with Mamo to offer financing solutions to businesses towards their card-able spends,” said Anand Nagaraj, co-Founder and CEO of CredibleX. “As our payable financing product is restricted towards approved business expenses, this partnership offers us the technology to address the requirement. Looking forward to growing this embedded financing proposition with Mamo to help SMEs with their working capital and business expense requirements.”

About Mamo
Mamo is a UAE-based fintech company that helps hundreds of businesses save time and costs by automating payment collection and corporate expense management through a single platform. In 2022, Mamo became the first fintech startup licensed by the DFSA with a Category 3C Providing Money Services license.

About CredibleX

Credible X Limited empowers companies to offer lending solutions to their SME ecosystem thereby creating a convenient, trustable and transparent lending solution for all partners. Credible X Limited is regulated by the Financial Services Regulatory Authority (“FSRA”) in the Abu Dhabi Global Market (“ADGM”) and holds Category 2, Category 3 and Category 4  licenses for Providing Credit, Providing Money Services and Operating Private Financing Platform.

Information contained on this page is provided by an independent third-party content provider. Binary News Network and this Site make no warranties or representations in connection therewith. If you are affiliated with this page and would like it removed please contact contact@binarynewsnetwork.com

News

Global Capital Partners Fund LLC Provides Small Businesses Commercial Lending from $1MM to $100MM+

The private lenders offer bridge financing, asset-based lending, and mezzanine financing nationwide. New York, US, 26th June 2022, ZEXPRWIRE, Global Capital Partners Fund LLC is one of...

San Angelo Insurance and Fast Tax Is Renowned for Providing Comprehensive Coverage to Local Businesses

San Angelo, TX, 21st April 2023, ZEX PR WIRE, San Angelo Insurance & Fast Tax, a leading provider of insurance and tax services, has gained...

Cambridge Home School Online Provides a Quality British Education to Students in China

The esteemed institution impresses parents and students by maintaining a high standard of education in China “Compared to the conventional schooling system, the e-learning model...

Nanda and Associate Lawyers Offer Professional Immigration Consultancy Services for Clients in Canada

One of the leading law firms in Canada provides quality and affordable immigration and consultancy services for family sponsorships, appeals, refugee protection claims, deportation,...

LocalTrade CEX ecosystem launches its services to help every business to accept crypto payments.

LocalTrade crypto-ecosystem just released a new product, 0xpay, which enables any business to integrate blockchain technologies into their business without any complex coding and...

Koinpark Hosts Metaverse Onlife Zone (MOZ) IEO: Better Precision in the Metaverse

Goyang City, Korea, Dec 25, 2023, ZEX PR WIRE, MOZlife.io and Koinpark have teamed up to launch the Initial Exchange Offering (IEO) for MOZ...

Arbitrage Trading in DeFi

Dubai, UAE, 30th November 2023, DeFi traders have many arbitrage opportunities thanks to the rising popularity of the industry. Unlike trading on centralized exchanges,...

New Blockchain-Based Gaming IP ‘Emboldn’ Promises Gameplay-First Experience

Toronto, Canada, July 20, 2022, ZEXPRWIRE, Nirvana Interactive Inc., a promising new Blockchain game development company, with a presence in Singapore, Dubai, and Canada,...

Caribbean-American Personality and Media Trailblazer Red Carpet Shelley Stars in Atlanta Based Caribbean Focused Docu-Series

ATLANTA, GA, October 19, 2020, ZEXPRWIRE, Television, radio personality and entrepreneur, Red Carpet Shelley is set to star in a new Caribbean-focused reality series....