Mubasher: Digital payments firm Euronet is partnering with open banking leader Fintech Galaxy to provide banking-as-a-service across the Middle East and Africa (MEA)

Their new platform offers account-based payment processing capabilities and other services including cards, payments, and acquiring to banks, fintechs, and merchants, according to a press release.

Euronet's advanced fraud detection, combined with Fintech Galaxy's open banking APIs, represents a significant step-up in combating financial crimes.

Mohamed Mousa, Vice President at Euronet Middle East, said: “Our partnership with Fintech Galaxy represents a strategic alignment with our mission to bring Banking as a Service, state-of-the-art payments and fraud detection solutions to our customers in the Middle East and Africa.”

“We are set to transform the region's payment ecosystem, enhancing our processing capabilities and account-based payments for merchants and end users along with the benefits of real-time fraud detection,” Mousa added.

Mirna Sleiman, Founder and CEO of Fintech Galaxy, stated: “Together, Euronet and Fintech Galaxy will build an integrated digital payment ecosystem by advancing solutions that offer secure, seamless payment experiences.”