Abu Dhabi - Sharikat Mubasher: NEO PAY, one of the pioneering merchant acquirers in the UAE, partnered with Wio Bank, a leading digital financial platform in the Middle East, to introduce a point-of-sale (PoS) lending solution specifically designed for SME merchants across the UAE.
This lending solution reflects NEO PAY's commitment to empowering SMEs with the financial tools they need to achieve growth and compete in today's dynamic market, according to an official statement released today.
The partnership will empower SMEs with seamless access to funding, enabling them to overcome financial barriers and drive growth. By supporting the SME ecosystem, both companies reaffirm their commitment to fostering economic resilience in the UAE.
Commenting on this milestone, Vibhor Mundhada, CEO of NEO PAY, said: “This partnership is a step forward in making financial support more accessible and impactful for merchants and reflects NEO PAY's commitment to merchants at every stage of their journey. Together, we're shaping the future of merchant financing across the UAE.”
For his part, Jayesh Patel, CEO of Wio Bank PJSC, stated: “Through our partnership with NEO PAY, we’re helping merchants access timely capital and real-time insights to manage cash flow more smoothly and grow their businesses with confidence. Together, we’re supporting the UAE’s ambition to build a thriving, future-ready economy.”
Moreover, the new lending facility provides merchants with swift access to funds based on their sales data, eliminating the lengthy processes typical of traditional loan approvals and credit checks. It empowers SMEs by offering working capital for purposes such as inventory purchases, marketing strategies, or business expansion.
