Qashio Debuts First UAE Corporate Card and Spend Management Offering

Dubai-based FinTech Qashio is expanding expense management resources and software for B2B transactions across the region with what it said is the first corporate expense management card and software platform for United Arab Emirates businesses.

Qashio’s expense management platform “enables business owners and finance leaders full visibility and advanced control of all expenses,” the company press release said. The cards can be issued immediately, and companies can choose virtual or physical cards.

The software lets business leaders control the card, such as setting budgets by day, week or month, restricting vendor or category usage, restricting ATM withdrawals, picking a card suspension date and managing the card’s status.

Qashio said it is integrated with many ERP and accounting software platforms, meaning firms can automatically sync their expenses, bypassing manual reconciliation.

“The biggest pain point Qashio is solving is the lack of visibility and control over company cash and spending,” said Armin Moradi, co-founder and CEO at Qashio. “Companies do not currently have real-time insights into their actual spending and therefore have inaccurate estimates of their cash flow.

“We are also removing manual processes, which are both time-consuming and prone to human error. With these cards, we are allowing companies to automate their spend management processes, and they can free up their employees’ time to focus on more impactful activities,” he said.

Related: UAE-Based FinTech Pemo Debuts Spend Management Platform

Last month, UAE FinTech startup Pemo debuted an all-in-one spend management platform, offering invoice payment, expense management services and corporate cards for small- to medium-sized businesses.

Pemo’s platform offers digitized invoices, automated approval flows, one-click invoice payments and real-time cash flow monitoring.

Companies will also be able to issue physical and virtual prepaid cards to their employees. The prepaid cards, through an integration with the Pemo app, will be able to categorize employee expenses, record receipts and offer business owners and management teams more visibility for corporate spending.