Following the recent successful launch of its Visa corporate cards in Saudi Arabia, Xpence, the GCC region’s first expense management platform to embed Visa corporate cards, proudly announces a strategic five-year Partnership for Growth agreement with Visa, a global leader in digital payments.
According to Industry sources, this partnership displays Xpence’s role as a fintech pioneer, having first introduced Visa corporate cards in Bahrain in 2021 and the UAE in 2022.
Saad Ansari, Co-founder and CEO of Xpence, stated, “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, particularly focusing on empowering SMEs and Corporates with robust financial tools.”
Hasan Kazmi, VP, head of strategic partnerships and ventures – CEMEA, Visa, commented, “Our collaboration with Xpence, beginning with the Fintech Fast Track program, set the stage for this dynamic partnership. Now, with the Partnership for Growth agreement, we are excited to support Xpence’s continued leadership and innovation in providing Visa corporate cards and payment solutions that cater specifically to the needs of businesses across the GCC.”
Industry sources added that since the initial engagement under the Visa Fintech Fast Track program in 2019, Xpence has been a major power source of financial technology innovation in the GCC. This latest Partnership for Growth agreement builds on previous successes, focusing on deepening and expanding the partnership to further fuel innovation and drive digital transformation across the GCC financial sector, with a particular focus on SMEs.
Industry sources also bought in the news that building on the momentum of its successful launches in Bahrain and the UAE, and the recent launch in Saudi Arabia, Xpence, led by Co-founder and CEO Saad Ansari, is set to continue its expansion across the GCC. The strategic alliance with Visa is very pivotal as Xpence plans to broaden its innovative services throughout the GCC market through the remainder of 2024 and 2025, continuing to lead digital transformation in the region.
