23-05-2025
UAE's areeba and FOO Unveil All-in-One Card Issuance Solution for Financial Institutions
areeba, a UAE-based provider of payment infrastructure, has entered into a partnership with FOO, a fintech solutions company headquartered in Dubai, to offer a comprehensive, integrated Card-as-a-Service (CaaS) programme aimed at banks and financial technology firms.
The bundled service is designed to help institutions develop and scale secure card programmes and digital wallets without the need for building complex infrastructure.
It combines areeba's modern card issuance platform with FOO's digital banking capabilities, offering features such as secure digital onboarding, electronic know-your-customer (e-KYC) processes, and tokenisation support for Apple Pay and Google Pay.
According to the companies, the solution allows financial institutions to manage both physical and digital card issuance under a single platform.
This unified approach is intended to reduce traditional barriers to entry and speed up the time it takes to bring new card products to market.
The programme targets institutions looking to launch compliant, modern card products that are adaptable and prioritise customer accessibility.
Maher Mikati, Chief Executive Officer of areeba, commented:
'By integrating our card issuance infrastructure with FOO's onboarding and tokenisation services, we're giving institutions the tools to launch innovative card programmes quickly and securely.'
He added,
'This partnership reflects our commitment to simplifying how institutions enter and grow within the digital payments space.'
Ghady Rayess, Chief Executive Officer of FOO, said:
'As demand grows for digital-first issuance, our collaboration with areeba delivers a complete CaaS solution that streamlines complexity and enables institutions to scale efficiently.'
Rayess also noted:
'This partnership reflects our shared vision of simplifying how digital financial products are built and delivered without compromising on performance, compliance, or customer experience.'
