Manama, Bahrain: Beyon Money, part of the Beyon Group, and MBME Pay, a leading payment service provider company, has announced the signing of a Memorandum of Understanding (MOU) aimed at streamlining payment processes and ensuring greater convenience and efficiency for customers. The agreement was signed by Beyon Money CEO Roberto Mancone and MBME Group MD Abdelhadi Mohamed during a meeting that took place at Beyon Group’s stand during GITEX 2023.

This strategic collaboration marks a significant milestone in the financial technology sector, as MBME Pay and Beyon Money join forces with the aim of enhancing the payment experience for customers in the United Arab Emirates (UAE). The MOU outlines key areas of cooperation, including payment collection services and the expansion of third-party services to facilitate Beyon Money’s operations, which are planned to be launched in the UAE by the end of 2023.

Furthermore, the collaboration will enable Beyon Money to extend its range of services, which will be made accessible to its users and customers through various channels including MBME Pay’s Kiosks, with over 4000 across the UAE, offering a wider array of financial services in the UAE while enriching user experience. Customers onboarded in the Beyon Money App can seamlessly use the payment services through the MBME Kiosks.

Roberto Mancone, CEO of Beyon Money, expressed his enthusiasm, saying, “The UAE offers the ideal ecosystem for us. We are thrilled with our partnership with MBME Pay allowing our mutual clients in UAE to explore a seamless journey between our Beyon Money app and MBME kiosks, in line with regulatory requirements, while fostering our digitalization strategy of international transfers and payments.”

“Both MBME Pay and Beyon Money are committed to innovation, digitalization, and customer-centric solutions and through this MOU we look forward to exploring further opportunities  in the UAE.”

Commenting on the strategic partnership, Abdelhadi Mohamed, MD of MBME Group, said, “We are excited to join forces with Beyon Money and leverage our expertise in payment services to enhance their offerings which will soon be available in the UAE. This collaboration aligns with our commitment to providing innovative solutions and creating a seamless user payment experience. Together, we aim to contribute towards the ongoing digitalisation of the payment landscape in the region.”

The partnership between MBME Pay and Beyon Money is poised to support the evolution of payment services in the UAE, benefiting businesses and individuals alike. In line with Beyon Money’s strategy for regional expansion, Beyon Money aims to launch its services in the UAE market by the end of 2023.