Al Maryah Community Bank (Mbank) teams up with Dgpays Group to launch a new digital wallet for business owners, entrepreneurs, and freelancers. The cooperation opens the door for Dgpays Group to grow its clientele in the Middle East and North Africa (MENA) regions. The collaboration with Mbank provides a solid foundation in the UAE region as the business works to expand its B2B fintech division.
"Our goal is to provide businesses with a simple and secure platform that enables them to offer a complete range of financial services to their customers by offering a digital wallet in dirhams to facilitate the electronic payment process for all segments of society, including individuals and companies," says Mohammed Wassim Khayata, CEO of Mbank.
UAE-Based Digital Wallets
UAE’s Mbank Collaborates with Dgpays for Digital Wallet Offering
Trend Themes
1. Digital Wallets Expansion in MENA - Collaborations between banks and fintech companies such as Mbank and Dgpays Group will result in the growth of digital wallet services in the Middle East and North Africa regions.
2. B2B Fintech Division Expansion in UAE - Mbank's collaboration with Dgpays Group will provide a foundation for the expansion of its B2B fintech division in the UAE region.
3. Simplified Financial Services for Entrepreneurs and Freelancers - The new digital wallet offered by Mbank and Dgpays Group aims to provide businesses, entrepreneurs, and freelancers with a simple and secure platform that enables them to offer a complete range of financial services to their customers.
Industry Implications
1. Banking - Banks such as Mbank can leverage partnerships with fintech companies to offer innovative banking solutions and enhance their digital capabilities.
2. Fintech - Fintech companies such as Dgpays Group can expand their clientele and offerings by collaborating with established banks such as Mbank.
3. Entrepreneurship - The simplified financial services provided by the new digital wallet offering can help entrepreneurs and freelancers in the UAE to manage their finances more efficiently and effectively.