NEOPAY has partnered with Commercial Bank of Dubai (CBD) to help small and medium-sized enterprises access working capital financing and banking services.
Eligible NEOPAY merchants can now use their transaction activity to explore financing options from CBD.
NEOPAY brings its payments infrastructure and merchant network to the deal. CBD brings its banking and financing expertise.
The offer covers growth, expansion and day-to-day working capital needs.
Working capital keeps a business running. It covers expenses, meets commitments and funds new opportunities.
Many SMEs, however, struggle to get timely financing. According to NEOPAY and CBD, using payment data gives lenders clearer visibility into a business’s performance.
“SMEs want banking and payment solutions that work seamlessly together.
By bringing these capabilities together, we are making it easier for merchants to access financing and support their growth ambitions,”
said Vibhor Mundhada, CEO of NEOPAY.
Dhiraj Kunwar, General Manager, Retail & Business Banking at CBD, signed the agreement alongside Mundhada.
The deal is intended to support SMEs with broader banking needs beyond financing.
Featured image: Edited by Fintech News UAE, based on image by NEOPAY and Commercial Bank of Dubai (CBD) via its Press Release.
