The new service provides a simpler approach to expense management with prepaid cards, investment opportunities through Flexi Invest, and B2B instant payments.
Registered companies can issue digital prepaid corporate cards for their employees, facilitating efficient management of departmental expenses such as petty cash, invoice payments, and travel costs. The platform, developed in collaboration with Tmam – a spend and expense management platform in the GCC – aims to improve digital payment processes by reducing the time required for activities like expense reconciliation, receipt consolidation, and budgeting.
The system also automates financial processes, reducing manual errors and offering analytical tools for insights into spending patterns, expense categories, and trends. Additionally, Beyon Money Business includes Flexi Invest, a liquidity remuneration product in the MENA region with returns up to 5.1%. This feature allows companies to invest their cash and earn monthly profits with the flexibility to withdraw funds at any time without penalty.
Beyon Money Business is designed to improve financial efficiency and optimise spending, offering businesses advanced tools for managing expenses and generating investment returns.
The digital financial solutions market in the GCC and MENA regions is highly competitive, characterised by a diverse array of players ranging from established banks to fintech startups. Major competitors include regional giants such as Saudi Arabian fintech platform STC Pay, UAE-based Tabby, and Bahrain’s EazyPay, each offering various services like digital wallets, expense management, and payment processing. These competitors have established significant market presence by leveraging their extensive local networks and technological infrastructures to cater to both consumer and business needs.
Beyon Money Business differentiates itself in this crowded market through its integrated suite of solutions tailored specifically for SMEs and corporates. Unlike many competitors who focus on either expense management or investment solutions in isolation, Beyon Money Business combines prepaid corporate cards, Flexi Invest for liquidity management, and B2B instant payments into a single platform. This approach not only improves financial operations but also offers a value proposition with flexible investment returns and automated financial processes. Additionally, the partnership with Tmam enhances its expense management capabilities, setting it apart by delivering a more cohesive and user-centric experience.
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