Mamo, a UAE-based financial technology company, and Paymentology, a global issuer processor, have entered into a strategic partnership to drive financial inclusion for small and medium enterprises (SMEs) across the UAE.
The partnership aims to enhance Mamo’s existing card program with exciting features: Credit and debit cards with multi-currency functionality; Cashback benefits of up to 2 percent; and Streamlined expense management workflows.
Mamo, co-founded in 2019 by ex-Google executives Asim Janjua and Imad Gharazeddine, was developed to address the everyday banking challenges faced by SMEs in the Middle East region. To accelerate financial independence, Mamo provides businesses with a consolidated platform where they can access payment collection, corporate credit and debit cards, and expense management tools in one intuitive interface.
This cutting-edge solution enables SMEs to bypass the need for multiple service providers, thereby streamlining financial operations and enabling entrepreneurs to focus on driving business growth.
SMEs across the UAE are leveraging Mamo’s platform to enhance payment collection across various channels such as WhatsApp, eCommerce, payment links, and digital invoicing, resulting in hours in savings for finance teams.
With Paymentology’s scalable, flexible next-generation payments technology, businesses will also benefit from an improved end-to-end customer experience with direct support from Mamo, real-time reporting capabilities, and physical and virtual corporate cards designed for vendor payments, particularly within the travel industry.
Mamo’s customer-centric focus means that business users benefit from tools that streamline complex financial processes, improving payment conversion rates and enabling faster access to revenue.
Imad Gharazeddine Co-founder and CEO – Mamo
“Traditional banking and finance solutions fall short in serving SMEs, making one third of all SMEs consider switching financial providers due to subpar user experiences and product efficacy. Our partnership with Paymentology brings together a shared commitment to create customer-focused solutions and leverages Paymentology’s technology to address these gaps. Together, we’re offering UAE’s SMEs fast, reliable and secure payment options that simplify expense management, enhance cash flow, and empower business owners with greater financial freedom.”
Jeff Parker, CEO of Paymentology, added that, “Our partnership with Mamo is built on a shared dedication to elevating customer experiences through tailored, impactful solutions. Leveraging Paymentology’s advanced technology and proven track record, we’re thrilled to bring virtual Visa cards to the UAE’s SMEs to support their expense management, creating a pathway to greater financial inclusion and supporting the entrepreneurial energy that fuels the UAE’s economic growth.”
The partnership addresses one of the key needs of the UAE market, where over half a million SMEs contribute substantially to the economy but face challenges in accessing effective and inclusive financial services.
The collaboration strives to encourage entrepreneurship, foster financial freedom, and support a fair and inclusive ecosystem for SMEs in the UAE and beyond.
As part of its mission to empower businesses with smarter financial solutions, Mamo has launched a Straight 8 cashback campaign, offering 8 percent cashback on non-AED corporate spends. The goal of this initiative is to help companies reduce costs on essential expenses like digital advertising, travel, and software subscriptions. The campaign provides businesses with a seamless way to maximize their spending efficiency.
