NEO PAY, the UAE’s fast-growing payment solutions provider, has partnered with Wio Bank PJSC, the Middle East’s leading digital financial platform, to introduce a Point-of-Sale (PoS) lending solution, designed for SME merchants across the UAE.
The launch of this lending solution reflects NEO PAY’s commitment to empowering SMEs with the financial tools they need to grow and compete in today’s dynamic market.
Vibhor Mundhada, CEO of NEO PAY, said: “We’re thrilled to collaborate with Wio Bank to launch a groundbreaking PoS lending solution, designed to empower merchants with quick and easy access to the capital they need for growth. This partnership is a step forward in making financial support more accessible and impactful for merchants and reflects NEO PAY’s commitment to merchants at every stage of their journey. Together, we’re shaping the future of merchant financing across the UAE.”
Jayesh Patel, CEO of Wio Bank PJSC, said: “SMEs are at the heart of the UAE’s economy, and at Wio Bank, our priority has always been to make banking work better for them. Through our partnership with NEO PAY, we’re helping merchants access timely capital and real-time insights to manage cash flow more smoothly and grow their businesses with confidence. Together, we’re supporting the UAE’s ambition to build a thriving, future-ready economy.”
The new lending facility provides merchants with swift access to funds based on their sales data, eliminating the lengthy processes typical of traditional loan approvals and credit checks. This innovation fosters financial stability as repayments are linked to sales, ensuring that instalments match revenue flows and easing financial pressures during slower sales periods. This facility empowers SMEs by offering working capital for purposes such as inventory purchases, marketing strategies, or business expansion. It allows them to seize growth opportunities without the delays associated with conventional loan approval processes.
This partnership between NEO PAY and Wio Bank empowers SMEs with seamless access to funding, enabling them to overcome financial barriers and drive growth. By supporting the SME ecosystem, both companies reaffirm their commitment to fostering economic resilience in the UAE.