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Manama, Kingdom of Bahrain – Wednesday 14 February 2024: In a landmark transfer set to redefine monetary administration for small and medium enterprises (SMEs) in Bahrain, Arab Monetary Providers (AFS), the Center East and Africa area’s main digital fee options supplier and fintech enabler, has entered a strategic partnership with Xpence, the award-winning monetary administration platform. This partnership was ceremonially inked on the Fintech Revolution Summit in Bahrain on February 14, 2024, and underscores a shared dedication to offering SMEs in Bahrain with superior, safe, and revolutionary monetary options.
Xpence and AFS’s collaboration introduces a pioneering method to SME monetary administration in Bahrain, combining Xpence’s acclaimed spend administration options with AFS’s strong digital fee infrastructure. This alliance is poised to ship unparalleled monetary management and effectivity to Bahrain’s burgeoning SME sector, driving innovation and development throughout the regional economic system. SMEs in Bahrain can now entry a collection of monetary instruments designed to boost their operational effectivity, from seamless spend administration to built-in Visa card options, all underpinned by the safety and reliability of AFS’s fee community.
Tailor-made Monetary Options for Bahrain’s SMEs: The partnership uniquely positions Xpence to tailor its choices to the precise wants of Bahraini SMEs, integrating AFS’s superior fee processing prowess.
Increasing Horizons: By leveraging AFS’s established presence and experience, this strategic alliance additionally signifies Xpence’s dedication to increasing its footprint within the GCC, with Bahrain serving as a key market.
Leveraging Visa Fintech Quick Observe for Enhanced Monetary Options: Participation within the Visa Fintech Quick Observe program accelerates the method of integrating with Visa, permitting Xpence to extra simply leverage the attain, capabilities, and safety that Visa gives.
Empowering Financial Imaginative and prescient: The collaboration aligns with Bahrain’s financial imaginative and prescient. By introducing cutting-edge monetary applied sciences to the SME sector, AFS and Xpence usually are not solely enhancing enterprise operations but additionally contributing to the financial diversification and digital transformation of Bahrain.
Government Insights
Mohammed Ajmal Basheer, Head of Processing at AFS, mentioned, “This partnership underscores our dedication to constructing inclusive fee ecosystems for SMEs. We’re excited to work with Xpence to develop and energy digital fee instruments that cater to their particular wants, supporting their digital transformation journey.”
Hussein Al Herz, Co-Founding father of Xpence, expressed enthusiasm in regards to the partnership, stating, “Becoming a member of forces with AFS marks a big milestone in our mission to revolutionize SME monetary administration within the GCC. This partnership is a testomony to our shared imaginative and prescient of empowering companies with revolutionary monetary options that drive development and effectivity.”
About Xpence
Xpence is the primary monetary administration platform within the area designed particularly for companies, providing a complete suite of instruments to streamline monetary operations. With options together with digital and bodily Visa playing cards, real-time monitoring, and automatic bookkeeping, Xpence empowers companies to handle their funds with unprecedented ease and effectivity. For extra info, go to www.xpence.com
About Arab Monetary Providers (AFS)
Arab Monetary Providers (AFS) was fashioned in 1984 to offer fee merchandise, providers and experience to banks and service provider teams and ship personalized fee options in an more and more divergent, disruptive, and dynamic fee ecosystem.
AFS is owned by 37 banks and monetary establishments, and serves over 60 purchasers in additional than 20 international locations throughout the Center East and Africa. Immediately, AFS is the area’s main digital fee options supplier and fintech enabler. Regulated by the Central Financial institution of Bahrain, the Firm’s ground-breaking, end-to-end fee providers and options span debit, credit score, and Islamic card processing, Service provider Buying, fintech and a state-of-the-art, value-added providers suite. Offering the very best high quality funds options which might be trusted by companies, AFS has places of work and information facilities within the Kingdom of Bahrain, Arab Republic of Egypt, Sultanate of Oman, and the United Arab Emirates.
Go to www.afs.com.bh for extra info and be part of the dialog on LinkedIn.
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