ADQ-backed Wio Bank has partnered with Paymentology, an issuer-processor, to enhance its digital banking model and provide customer-centric payment card services. The partnership is aimed at removing friction for small and medium-sized enterprises (SMEs), allowing them to open business accounts instantly and utilize services immediately with physical and virtual cards. Paymentology’s payment card issuing platform and data analytics capabilities will enable Wio Bank to launch financial products at scale and provide the latest digital banking solutions to empower businesses and consumers. Wio Bank’s first digital banking application, Wio Business, provides startups, freelancers, and SMEs with simplified and fully digital financial services.
The neobank has also partnered with Abu Dhabi Global Market, Stripe, Flat6Labs, and First Abu Dhabi Bank to enhance banking services for SMEs and provide them with greater access to key banking services quickly and efficiently.