Xpence launches services in UAE via partnership with Visa

Xpence launches services in UAE via partnership with Visa

UAE – Mubasher: Xpence collaborated with Visa to launch its expense management solution in the UAE, which is the second of five strategic markets Xpence plans to expand in during the coming 18 months.

The platform is currently issuing Visa cards in the UAE and Bahrain, according to a recent press release.

Xpence is the first financial management platform with embedded business banking solutions for small and medium-sized enterprises (SMEs) in the Middle East, North Africa, and Pakistan (MENAP) region.

The financial services platform noted that the UAE registered over 70,000 new business licenses issued in 2021, yet “many still face difficulties in having bank accounts or digitalising their financial transactions.”

Xpence's entry into the UAE market is expected to empower businesses with digital efficiency, security, and control. The platform was developed to serve more than 23 million MENAP businesses that struggle to access financial services, in addition to providing banking solutions like physical and virtual employee expense cards, digital invoicing, multi-currency wallets, and payment processing.

Saad Ansari, Co-Founder and CEO of Xpence, noted: "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