Alaan, a UAE-based corporate card solution has inked a 5-year deal with Visa to digitize expense management processes for businesses in UAE and KSA.
The colllaboration is aiming to leverage Visa’s payment network, VisaNet, and Alaan’s AI-powered spend management system to deliver enhanced financial control and visibility to businesses across the region, in line with UAE and KSA governments’ cashless society agendas.
It comes at a time when the Middle East is experiencing a paradigm shift in how corporate expenses are handled. By tapping into Visa’s global network, Alaan said it will offer users seamless international payment capabilities including real-time tracking, automated reconciliations, and streamlined expense management features. The DIFC-based fintech is also planning further investment in R&D as companies increasingly look for ways to take control of their business spend.
Parthi Duraisamy, CEO at Alaan, said in a statement: “This exclusive alliance with Visa marks a pivotal moment for Alaan. Together, we are not just offering a spend management solution; we are transforming how businesses in the Middle East manage their finances. Our shared vision with Visa to innovate and simplify financial processes will drive unprecedented efficiency and growth for our customers.”
Dr Saeeda Jaffar, Visa’s Senior Vice President and Group Country Manager for GCC also expressed enthusiasm that partnership will help empower more businesses and companies in the Middle East with innovative spend management solutions.
