NymCard, a UAE-based banking-as-a-service and card issuing platform, acquired Spotii, a BNPL service provider, for an undisclosed sum.

Founded in 2020, UAE-based Spotii provides BNPL offerings across UAE, Saudi Arabia, and Bahrain with over one million registered users and more than 1,500 merchant partners as of today. In May 2021, the company was acquired by Zip , an Australian BNPL provider, for a sum of USD 16 million.

Through this acquisition, NymCard plans to integrate its platform with Spotii’s technology to offer flexible payment and credit products for B2B and B2C customers, ranging across nine modules with features such as eKYC, AI-driven OCR, machine-learning-powered rules, a cohort-based risk engine with intelligent risk assessment, loan management systems, and an AI-driven collections app.

Founded in 2018, UAE-based NymCard allows financial institutions to provide virtual and physical card products, such as prepaid, multi-currency, charge, and credit cards to their customers.