Mint Middle East, one of the region’s fintech payments behemoths, has forged a strategic partnership with Texas-based global payments solutions leader Payolog; initially announced on the first day of Seamless Middle East 2021, the region’s largest payments technology conference and exhibition.
Payolog’s expertise in payment technologies has a proven record worldwide. The company’s unique technology framework offers unparalleled flexibility and diversity in products and services that address varying needs and priorities of customer groups across all financial, social, and digital divides. Its innovative solutions range from smart city solutions, credit/debit/prepaid card management, issuing and omni-channel acquiring, switch/integration middleware, mobile wallets, loyalty, crypto exchange, eCommerce, transit, healthcare, and many more.
The modularity of its technology has been Payolog’s core advantage, enabling banks, financial institutions and merchants with faster reach to millions of consumers with less investment, buy-on-demand technologies, and easy plug-and-play integration with dynamic APIs.
Mint, on the other hand, has successfully bridged the banking gap for 1.1 million direct and more than four million indirect beneficiaries globally. Its focus on providing easy financial services to people who otherwise have no access to world-class digital financial solutions has saved millions of dollars for the underbanked, thus avoiding the “poor tax” – a widespread practice in the financial industry. Mint’s mobile-enabled fintech platform, which has empowered the underbanked and driven financial and digital inclusion in the region, will receive a futuristic makeover with this Payolog partnership.
Abdulrazzaq Al Abdullah, Chairman & CEO of Mint Group, said: “This announcement serves as our commitment to the future. We have successfully used the past decade for financial inclusion and creating technology awareness and have delivered innovative services to our customers. Mint’s core philosophy of disruptive innovation is meant to advance ease of living, business, and the economy; these ideals, along with our new alliance, have propelled us into the future. Personally, I am excited about the technologies which will keep us ahead of our competitors. On behalf of Mint, we welcome Payolog into this exciting region of unlimited possibilities”.
Ayse Nil Sarigollu, Executive Chairwoman of Payolog, spoke about the collaboration at Seamless 2021: “We are delighted to be partnering with Mint. This is a big investment in our shared journey towards seamless, safe, and convenient payment systems that will touch lives. It will help us double our commitment to this region, which provides an ever-growing space for safe and innovative payment mechanisms.”
She added: “We believe the partnership will help us leverage our expertise in smart payment solutions and other related technologies, channel them towards local adoption, and especially fuel UAE’s quest to become the most futuristic, technology-enabled, connected community.”
With the alliance, Mint has taken another step towards driving greater innovation in the sphere of digital banking and payments. Combined with Smart City-specific solutions such as the AFC (Automated Fare Collection) platform for transit, these services will ensure that Mint’s future products and solutions deliver ease of mind and confidence to a broader audience in the region.
Al Abdullah concluded: “In the past, we saw UAE driving entrepot solutions through its marvelous ports, then connecting the world through the best airlines. Today, we see several homegrown unicorns and the only government in the world adapting more quickly than private enterprises, now at Expo 2020 UAE HH Sheikh Mohammed Bin Rashid, said “we aren’t a country in the world but the world in the country” also following the strategy of UAE’s economic diplomacy. We are privileged to be working in this dynamic, ever-changing landscape in UAE serving the world.”
Based on Payolog’s innovative technologies, Mint is set to invest and partner with several banks and financial institutions in the region to launch unique digital banking services that create value in the day-to-day lives of consumers.