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Tarabut Teams With FLOOSS For Faster Loan Approvals
The new Income Verification product is the first and fastest digital loan service in Bahrain.
Leading MENA Open Banking company Tarabut has announced a collaboration with Bahrain-based digital lending platform FLOOSS.
The pioneering partnership has created Bahrain’s first Open Banking-enabled digital lending service, significantly reducing loan approval times to mere minutes using Tarabut’s Income Verification solution.
Previously, loans could take up to two weeks to approve. By leveraging the latest Open Banking APIs, FLOOSS customers now enjoy a seamless lending journey with enhanced security and no longer need to submit salary certification during the application process manually.
Abdulla Almoayed, Founder and Chief Executive Officer of Tarabut, said, “We are proud to announce our latest partnership with FLOOSS, one of Bahrain’s leading lending platforms. Together, we are promoting financial inclusion and developing Bahrain’s financial infrastructure in line with the country’s plans for a robust financial ecosystem. Everyone should have access to affordable and efficient lending facilities, and this partnership is a crucial step towards that goal”.
Fawaz Ghazal, Chief Executive Officer of FLOOSS, said, “The customer lending experience and journey must be reimagined; customers expect more from their financial service providers. Working with the team at Tarabut, FLOOSS has implemented a customer-first solution that improves lending processing times to a few minutes and more seamlessly than any other lenders, anytime and anywhere. We are proud of the innovative work and look forward to more announcements with our partner, Tarabut, in the Kingdom of Saudi Arabia soon”.
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In Bahrain, demand for personal loans is steadily growing and now totals BD 5.7 billion or 38.2% of GDP. As Tarabut collaborates with more lenders, financial enterprises and banks across the MENA region, the payment landscape is rapidly becoming more diverse and modern. Open Banking technology is a key feature of modern financial infrastructures and helps businesses maximize revenue, reduce operational costs and enrich customer experiences.
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Checkout.com Set To Launch Card Issuing In The UAE
The payment service provider’s expansion is a first-of-its-kind investment and could reshape digital transactions across the region.
Checkout.com is laying the groundwork to become the first global payments platform to introduce card issuing in the United Arab Emirates — a move that could reshape how businesses in the region manage financial transactions.
The company plans to roll out its domestic card issuance offering in the UAE by 2026, subject to regulatory approval. The launch would give businesses the tools to issue both physical and virtual branded cards. This, in turn, opens up new ways to reward customers, streamline expense processes, and handle B2B payouts efficiently.
Checkout.com’s CEO and Founder, Guillaume Pousaz, revealed the plans during Thrive Abu Dhabi, the firm’s debut conference in the Emirates. Joined on stage by Remo Giovanni Abbondandolo, General Manager for MENA, Pousaz presented to an audience of over 150 partners and merchants at Saadiyat Island. Also in attendance was H.E. Omar Sultan Al Olama, the UAE’s Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications.
Abbondandolo highlighted the strategic importance of the announcement: “As a global business, we focus on bringing products to markets that our customers want and need. Today’s announcement is proof of our commitment to the MENA region and its rising influence in the digital economy. The appetite for innovation here is real, and we’re proud to be building the infrastructure that powers it”.
One early adopter of Checkout.com’s UAE acquiring services is Headout, a travel experiences marketplace, which recently named the payment provider as its main partner in Europe. The company has already begun card issuing there and is keen to expand that offering into MENA once approval is granted.
The expansion of services in the UAE and beyond builds on Checkout.com’s track record in the region. It was the first global payments firm to secure a Retail Payment Services license from the UAE’s Central Bank and was instrumental in rolling out Mada and Apple Pay in both the UAE and Saudi Arabia.
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The firm has also been rolling out new products: One of the latest is Flow Remember Me, currently in beta testing. It allows shoppers to store their card information once and access it across Checkout.com’s entire network, potentially cutting checkout times by up to 70%.
Earlier this year, Checkout.com also introduced Visa Direct’s Push-to-Card solution in the UAE, enabling both domestic and international payouts. Its collaboration with Mastercard has grown as well, making it easier for businesses to send funds directly to third-party cards securely and quickly.
With regional tech ambitions on the rise — spurred by initiatives like Saudi Arabia’s Vision 2030 and the UAE’s 2031 Agenda — Checkout.com sees its role as one of a key enabler. “Our mission is to help ambitious businesses navigate the complexity of payments, so they can move faster, go further, and make the most of every opportunity,” said Abbondandolo. “In MENA, performance is personal. It’s local. It’s built on trust. And when payments perform, businesses thrive”.
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