“Can a MENA-native card issuing platform become the embedded finance infrastructure layer for banks, fintechs, and enterprises across the Arab world and Pakistan?”
Founded in 2018 by Omar Onsi as a card issuing and processing platform for MENA banks and fintechs. Over time NymCard has expanded the nCore platform from card issuing into a full embedded finance suite — adding money movement (Visa Direct), embedded lending/BNPL, open finance, KYC, and SME spend tools. Now operates as the only multi-country embedded finance platform across 10+ MENA markets and Pakistan, licensed by the Central Bank of the UAE.
NymCard discloses NymCard nCore (in-house) as its banking provider, according to the Embedded Finance Index 2026.
NymCard does not disclose a bank charter of its own; its banking services are provided through NymCard nCore (in-house).
NymCard processes payments through Mastercard Payment Gateway Services (MPGS), Visa Direct, Mastercard Cross-Border and nCore card processing (self-operated). Disclosed money-movement rails: Visa Direct.
NymCard's cards are issued through NymCard nCore (in-house).
NymCard's lending and capital products are provided by NymCard Embedded Lending (in-house).
NymCard runs its ledger on NymCard nCore (in-house).
NymCard connects to bank accounts through NymCard Open Finance (in-house).
NymCard uses Visa Direct, Mastercard Cross-Border and Fexco Merchant Services (FX rate provider) for FX and cross-border payouts.
The Embedded Finance Index 2026 maps 10 layers in NymCard's stack: Payments / PSP (Mastercard Payment Gateway Services (MPGS), Visa Direct, Mastercard Cross-Border and nCore card processing (self-operated)); Money movement (Visa Direct); Banking / BaaS (NymCard nCore (in-house)); Card issuing (NymCard nCore (in-house)); Ledger (NymCard nCore (in-house)); Lending (NymCard Embedded Lending (in-house), BNPL, Working capital loans, POS financing and 6 others); Open banking (NymCard Open Finance (in-house)); FX & payouts (Visa Direct, Mastercard Cross-Border and Fexco Merchant Services (FX rate provider)); Spend / AP (NymCard Nym4Business (in-house) and NymCard Corporate Cards (in-house)); Transaction enrichment (NymCard Open Finance Data Enrichment (in-house)).
NymCard was founded by Omar Onsi and is founded in 2018, headquartered in Dubai, United Arab Emirates.
NymCard has raised ~$55M+ in total (latest round: Series B, 2025).
Get a read on where your own stack stands against NymCard 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.