NOW Money: Best Inclusive Mobile FinTech Middle East 2021

Dubai-based fintech NOW Money is on a mission to empower the massive population of unbanked migrants workers in the Middle East. Migrant workers contribute to the development of their adopted countries and support their families by sending regular remittances back home. According to the data from the United Nations, there are millions of international migrant workers in the Gulf Cooperation Council (GCC) countries, accounting for an average of 70 percent of the region’s workforce. Low-income migrants typically have smartphones — but don’t earn enough money to meet the monthly minimum requirements for opening a bank account in the Middle East. NOW Money was founded in 2016 to ease these difficulties with a high-quality, low-cost digital solution. NOW Money works with companies to provide digital payroll and accounts solutions for their employees. Account holders receive their wages in a digital account and can use the associated debit card to make purchases, pay bills, top-up mobile phones and withdraw money at ATMs. The free account has no monthly minimums and can be accessed through the NOW Money app, which features an in-house exchange marketplace for sending remittances. The offering covers the value chain of corporate needs, which will soon expand to include corporate expense and commission accounts. This peer-to-peer service is addressing a pressing need and creating positive social impacts. NOW Money presents a strong case for a profitable business and has raised $7m in its latest funding round. The CFI.co judging panel announces NOW Money as the 2021 award winner for Best Inclusive Mobile FinTech (Middle East).

marten

Recent Posts

Dubai World Trade Centre: Champion of Global Business and Trade Ecosystems EMEA 2025

For over four decades, Dubai World Trade Centre (DWTC) has been a cornerstone of Dubai’s…

2 days ago

Krungthai Bank PCL: Best Social Impact Bank Thailand 2025

Krungthai Bank PCL plays a pivotal role in driving sustainable economic and social development in…

1 week ago

Région Île-de-France: Best Green Bond Thought Leadership Team Global 2025 & Best in Class Bond Issuer Global 2025

Région Île-de-France demonstrates a steadfast commitment to sustainable finance, playing a pioneering and influential role…

4 weeks ago

Spectrum Asset Management: Excellence in Preferred Securities Portfolio Management Global 2025

Spectrum Asset Management is a leading institutional manager specialising in preferred and capital securities, with…

1 month ago

Moody’s Ratings: Best Credit Risk Analysis LATAM 2025

Moody’s Ratings is a globally recognised leader in credit ratings, research and risk analysis, with…

1 month ago

La Trobe Financial: Best Investment Management Team Australia 2025

La Trobe Financial has cemented its reputation as Australia’s premier alternative asset manager, demonstrating a…

2 months ago