B2B Payments

Expenses Card Tool A First For Saudi Arabia


Saudi Arabian bank ANB has just released a new payment solution to help businesses manage their budgets and control employee spending.

Reports in Arab News published Saturday (Dec. 5) revealed that ANB is rolling out Cash Express, a prepaid card for lower spending values. According to the bank, it makes the kingdom’s first prepaid petty cash card.

[bctt tweet="ANB is rolling out Cash Express, a prepaid card for businesses."]

The solution is geared towards business customers of the bank that need to monitor smaller expenses and can be used by employees to limit their spending, reports said. The prepaid card integrates into ANB’s online banking channel, providing a platform for managers to refill funds on the Cash Express card, set spending limits and view payment activity.

“We are proud to offer this innovative payment solution that transforms petty cash payments into a modern electronic prepaid card-based payment offering,” said ANB Deputy Head of Corporate Banking Nizar Al-Twaijiri in a statement. “Cash Express uses the latest technology for making purchases on the local POS network or withdrawing cash at any ATM in the marketplace. It also facilitates expense management and considerably eliminates the risks and costs associated with carrying cash or keeping cash on business premises.”

He added that the solution can help companies across any sector manage their finances and employee spend.

Commercial cards have gained new traction in the country in recent months. Earlier this year China-based payments company Globebill reached an agreement with the nation to ease friction in commercial card settlements in an effort to boost cross-border trade.



The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.