Xpence and Visa announce strategic partnership following launch in Saudi Arabia
Xpence partners with Visa to accelerate its expansion in the GCC and beyond
Following the successful launch of Visa corporate cards in Saudi Arabia, Xpence, the GCC region’s first expense management platform embedding Visa corporate cards, proudly announces a strategic five-year Partnership for Growth with Visa, a global leader in digital payments. This partnership highlights Xpence's role as a fintech pioneer, having introduced Visa corporate cards first in Bahrain in 2021 and subsequently in the UAE in 2022.
Since engaging under the Visa Fintech Fast Track programme in 2019, Xpence has been a frontrunner in financial technology innovation in the GCC. This new Partnership for Growth agreement builds on past achievements, aiming to deepen and expand collaboration to foster innovation and drive digital transformation across the GCC financial sector, particularly focusing on SMEs.
With successful launches in Bahrain, the UAE, and most recently Saudi Arabia, Xpence, led by co-founder and CEO Saad Ansari, plans to further expand across the GCC. The strategic alliance with Visa is crucial as Xpence continues to introduce innovative services throughout the GCC market in 2024 and 2025, maintaining its leadership in regional digital transformation.
Saad Ansari, co-founder and CEO of Xpence, remarked, "This partnership for growth with Visa marks a significant evolution in our relationship. This new agreement enables us to leverage deeper integrations and broader capabilities, paving the way for our expansion across the GCC, with a strong focus on empowering SMEs and Corporates with robust financial tools."
Hasan Kazmi, VP, Head of Strategic Partnerships and Ventures – CEMEA at Visa, commented, "Our collaboration with Xpence, which began with the Fintech Fast Track programme, laid the foundation for this dynamic partnership. Now, with the Partnership for Growth agreement, we are excited to support Xpence's ongoing leadership and innovation in delivering Visa corporate cards and tailored payment solutions that meet the specific needs of businesses across the GCC."