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Alaan and Visa sign a landmark five-year deal to help drive the cashless agenda of UAE and Saudi Arabia

The partnership also includes joint marketing initiatives aimed at accelerating the adoption of advanced spend management solutions in the Middle East

Published: Wed 27 Mar 2024, 10:56 AM

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Parthi Duraisamy, CEO and co-founder, Alaan and Dr Saeeda Jaffar, senior vice president and group country manager for GCC, Visa.

Parthi Duraisamy, CEO and co-founder, Alaan and Dr Saeeda Jaffar, senior vice president and group country manager for GCC, Visa.

Alaan, UAE’s fastest growing corporate card solution, and Visa, a world leader in digital payments, announced a landmark five-year deal to digitise expense management processes for businesses in UAE and Saudi Arabia.

This five-year strategic alliance aims to leverage Visa's industry-leading 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 Saudi Arabia's governments’ cashless society agendas.

As Visa continues to shape the future of payments and money movement for businesses in the region, this partnership comes at a time when the Middle East is experiencing a paradigm shift in the way in which corporate expenses are handled, solidifying the payment technology leader’s commitment to advance the ecosystem.

Alaan's partnership with Visa represents a significant milestone in the company's mission as it continues to double down its investment in R&D and innovate its platform for forward-thinking businesses in the Middle East. This further amplifies the DIFC-based Fintech’s goal of leveraging technology to help companies take control of their business spend. This alliance will enable Alaan's clientele to benefit from enhanced efficiency, security, and flexibility in managing their corporate spending.

"At Visa, we are committed to fostering strategic partnerships that enhance and secure the region’s payments ecosystem and deliver innovative corporate solutions that support businesses in their digital transformation," said Dr Saeeda Jaffar, Visa’s senior vice president and group country manager for GCC. "Our collaboration with Alaan is a testament to this commitment, and we look forward to working with them to empower more businesses and companies in the Middle East with innovative spend management solutions."

Currently used by 500+ organisations, Alaan's platform, known for its enterprise-grade spend management features, is set to further bolster its expansion plans with this partnership. This will facilitate advancements in real-time tracking, automated reconciliations, and streamlined expense management for businesses. By leveraging Visa's global network, Alaan will also offer its users seamless international payment capabilities, further enhancing the platform's value proposition.

Parthi Duraisamy, CEO at Alaan, expressed enthusiasm about the partnership, stating, "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."

The partnership also includes joint marketing initiatives aimed at accelerating the adoption of advanced spend management solutions in the Middle East. These efforts underscore the commitment of both Alaan and Visa to support the economic growth and digital transformation of the region.

As Alaan and Visa embark on this exciting journey, businesses in the Middle East can look forward to a future where managing corporate spending is not just easier, but also a strategic advantage.



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