# NymCard

> NymCard is an Abu Dhabi-based embedded finance and payments infrastructure company that lets banks, fintechs, telecoms and enterprises launch and run card programs, lending and money-movement products through a single API-first platform called nCore. Founded in 2018 by Omar Onsi, it owns its issuing and switching technology rather than licensing it, is licensed by the Central Bank of the UAE, and is a certified partner of Visa and Mastercard across the Middle East, North Africa and Pakistan.

- **Founded:** 2018
- **Headquarters:** Abu Dhabi, United Arab Emirates
- **Founders:** Omar Onsi (Founder & CEO), Ayman Chalhoub (Co-founder)
- **Team size:** ~260 employees
- **Products:** nCore platform, Card Issuing & Processing, Embedded Lending, Money Movement, Open Finance
- **Notable:** Built and owns its own MENA-based issuing processor and switch (nCore) rather than licensing third-party technology., Raised a total of roughly $72M, including a $33M Series B led by QED Investors in March 2025., Became one of the first entities licensed under the CBUAE Open Finance regulation in 2025.

## Products & services

- **nCore platform** — A modular, API-first payments platform bringing cards, lending, money movement, settlement, financial crime and reconciliation onto one integrated system, with 1,000+ APIs. NymCard owns its issuing and switching technology rather than licensing it.
- **Card Issuing & Processing** — Instant issuance of prepaid, debit and credit cards - physical, virtual and tokenized - with integration to Apple Pay, Google Pay, Samsung Pay and issuer-branded wallets.
- **Embedded Lending** — Configurable credit and loan management with real-time credit decisioning, AI-powered credit scoring and regional regulatory compliance, including Buy Now Pay Later (BNPL) infrastructure for banks.
- **Money Movement** — Real-time money movement, cross-border transfers and remittances, multi-currency support and merchant payout flows.
- **Open Finance** — Regulated consent-driven account-to-account (A2A) flows launched under the CBUAE Open Finance regulation, serving fintechs, SMEs, banks and marketplaces.

## Achievements

- Built and owns its own MENA-based issuing processor and switch (nCore) rather than licensing third-party technology.
- Raised a total of roughly $72M, including a $33M Series B led by QED Investors in March 2025.
- Became one of the first entities licensed under the CBUAE Open Finance regulation in 2025.
- Certified partner of both Visa and Mastercard across MENA and Pakistan.
- Grew to ~260 employees with offices in Abu Dhabi, Dubai, Riyadh, Cairo and Karachi.

## Latest updates

- **2025-05** — Launched Open Finance services as one of the first entities licensed under the Central Bank of the UAE's Open Finance regulation, enabling consent-driven account-to-account flows.
- **2025-03** — Closed a $33M Series B round led by QED Investors to consolidate its presence across 10+ MENA markets and expand card issuing, embedded lending and money movement.
- **2022-06** — Raised $22.5M to grow teams and strengthen services across core markets.

## Links

- Website: https://nymcard.com
- LinkedIn: http://www.linkedin.com/company/nymcard
- Twitter/X: https://twitter.com/nymcard
- Facebook: https://facebook.com/nymcardplatform/

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Profile page: https://yespress.io/nymcard
Published by YesPress — https://yespress.io
Last updated: 2026-07-25