Manama, Bahrain: Beyon Money, part of the Beyon Group, and MBME Pay, a leading payment service provider company, has announced the signing of a Memorandum of Understanding (MOU) aimed at streamlining payment processes and ensuring greater convenience and efficiency for customers. The agreement was signed by Beyon Money CEO Roberto Mancone and MBME Group MD Abdelhadi Mohamed during a meeting that took place at Beyon Group’s stand during GITEX 2023.

This strategic collaboration marks a significant milestone in the financial technology sector, as MBME Pay and Beyon Money join forces with the aim of enhancing the payment experience for customers in the United Arab Emirates (UAE). The MOU outlines key areas of cooperation, including payment collection services and the expansion of third-party services to facilitate Beyon Money's operations, which are planned to be launched in the UAE by the end of 2023.

Furthermore, the collaboration will enable Beyon Money to extend its range of services, which will be made accessible to its users and customers through various channels including MBME Pay’s Kiosks, with over 4000 across the UAE, offering a wider array of financial services in the UAE while enriching user experience. Customers onboarded in the Beyon Money App can seamlessly use the payment services through the MBME Kiosks.

Roberto Mancone, CEO of Beyon Money, expressed his enthusiasm, saying, "The UAE offers the ideal ecosystem for us. We are thrilled with our partnership with MBME Pay allowing our mutual clients in UAE to explore a seamless journey between our Beyon Money app and MBME kiosks, in line with regulatory requirements, while fostering our digitalization strategy of international transfers and payments.”

“Both MBME Pay and Beyon Money are committed to innovation, digitalization, and customer-centric solutions and through this MOU we look forward to exploring further opportunities  in the UAE.”

Commenting on the strategic partnership, Abdelhadi Mohamed, MD of MBME Group, said, "We are excited to join forces with Beyon Money and leverage our expertise in payment services to enhance their offerings which will soon be available in the UAE. This collaboration aligns with our commitment to providing innovative solutions and creating a seamless user payment experience. Together, we aim to contribute towards the ongoing digitalisation of the payment landscape in the region."

The partnership between MBME Pay and Beyon Money is poised to support the evolution of payment services in the UAE, benefiting businesses and individuals alike. In line with Beyon Money’s strategy for regional expansion, Beyon Money aims to launch its services in the UAE market by the end of 2023.

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This press release has been issued by Beyon Corporate Communications & Sustainability Department. For further information, please contact public.relations@beyon.com

About Beyon Money

Beyon Money, part of the Beyon Group, is a financial super app based in the Kingdom of Bahrain. With Beyon Money, you have access to a suite of financial services and offerings, from prepaid cards with worldwide acceptance and unparalleled benefits, to global remittance services at the most competitive rates and secure modes of delivery. With its Flexi Invest offering Beyon Money customers earn profits on their cash balances with no limit restrictions.

Beyon Money is a one-stop destination for managing all your money seamlessly, securely and transparently.

www.beyonmoney.com

About MBME Group

MBME Group is the UAE's first fully integrated online payment platform, offering payment collection and aggregation services to government and private sector entities, in addition to retail customers. The platform aims to accelerate the adoption of modern digital payment solutions, as real-time payment systems and digital banking continue to provide individuals, businesses, and financial institutions with robust transaction systems, end-to-end security, encrypted data transfer, and a variety of useful microservices. The Group has made significant investments in the development and modernization of its payment platforms, processing more than 90 million transactions involving over 3.2 million customers. The company has successfully created over 650 application programming interfaces (API) and operates over 4000 touch points across UAE. 

To learn more please visit https://mbmegroup.ae/