“Can a CBUAE-licensed fintech become the default financial OS for GCC's millions of blue-collar migrant workers by bundling WPS-compliant payroll, mobile banking, and low-cost remittance into one platform?”
Founded in 2017 in Dubai as a payment services provider licensed by the CBUAE, Now Money focused from inception on blue-collar migrant workers in the GCC who are systematically excluded from traditional banking. The core wedge is a WPS-compliant payroll solution paired with a mobile bank account and Mastercard debit card, enabling employers to pay salaries digitally and workers to send remittances home at low cost. Following an ownership change in 2023, the company raised $4M in 2024 and deepened infrastructure partnerships with CBI, Network International, and Mastercard to scale across the GCC.
Now Money discloses Commercial Bank International as its banking provider, according to the Embedded Finance Index 2026.
Now Money does not disclose a bank charter of its own; its banking services are provided through Commercial Bank International.
Now Money processes payments through Network International.
Now Money's cards run on Mastercard.
The Embedded Finance Index 2026 maps 4 layers in Now Money's stack: Payments / PSP (Network International); Banking / BaaS (Commercial Bank International); Card network (Mastercard); Sponsor bank (Commercial Bank International).
Now Money is founded in 2017 and headquartered in Dubai, United Arab Emirates.
Now Money has raised $4M+ (disclosed equity rounds) in total (latest round: Equity round, June 2024).
Get a read on where your own stack stands against Now Money and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.