Dubai: Xpence, a fintech platform for SMEs, has launched its expenses management solution in the UAE, the second of five markets where it is now live in the last 18 months. The company is launching the service in partnership with Visa, after being one of the first in the region to join the Visa Fintech Fast Track Program early 2019.
Business owners in the UAE can open an Xpence account by downloading the app. They can issue virtual and physical Visa cards to employees, which are accepted globally. They can set individual spending controls and limits on each card.
Real‐time monitoring and automated bookkeeping ‘eliminate the need for tedious expense reports, promote efficiency and can help businesses save money’. Xpence’s embedded banking solutions are tailored to local business needs, including physical and virtual employee expense cards, simplified digital invoicing, multi-currency wallets and the automation of payment processing.
According to Saad Ansari, Xpence’s co-founder and CEO, “"We are delighted to announce the launch of Xpence's third Visa card product via our market entry into the UAE, where our platform will provide key financial services and support to SMEs as they launch and scale their businesses, but also to larger corporations in need of more sophisticated, digital financial services.”