Mashreq has invested in NymCard, the Middle East’s Banking-as-a-Service provider, in order to promote the UAE’s thriving FinTech sector and the next generation of innovators, said a company statement. Through NymCard’s contemporary open APIs, it will enable fintechs of all sizes to establish business propositions that require payment card capabilities. The deal’s terms were not made public.

“We are proud that Tweeq has selected IDEMIA’s card solutions services. This highlights the trust the institution has in IDEMIA as their technology partner. As a market leader in payment card technology, IDEMIA strives to deliver high-quality offerings that reflect our clients’ commitment to their customers,” said Julia Schoonenberg, Senior Vice President, MEA, Financial Institutions, IDEMIA.

When carrying out a payment via a smartphone app, the user has to authenticate the transaction using either one of the iPhone’s built-in biometric authentication features, or punch in a PIN code, reducing the threat of relay attacks. However, in May 2019 Apple introduced the “Express Transit/Travel” feature that allows Apple Pay to be used without unlocking the phone.

Zwipe announced that it has recently appointed Ramzi Saboury as a general manager for the Middle East and North Africa region (MENA) as it seeks to respond to strong interest for its biometric products in this market.

While the actors behind the sale didn’t reveal how they obtained the cards or what their origins were, they did disclose that the loot contained more than 3,000 brand-name gift cards.