Mastercard & tmam team to digitise corporate expenses for SMEs

By Delisha Fernandes

Mastercard has entered a strategic partnership with tmam, a multi-currency corporate card, expense management and accounts payable solutions for SMEs – to launch its innovative payment proposition across the GCC region. The collaboration will help small businesses digitise their corporate expenses while saving money on company spend.

Through its partnership with Mastercard, tmam customers will be able to access a range of benefits through a simple digital onboarding experience via the tmam app, allowing them to transact seamlessly physically and online. The payment solution for SMEs will help improve expense tracking for their branch offices.

“SMEs are crucial drivers of the economy. Guided by our pledge to connect 50 million small enterprises globally to the digital economy by 2025, we are delighted to partner with tmam to deliver our innovative payment solutions to SMEs. Our collaboration will contribute to accelerating digital transformation and enhancing financial inclusion in the region while providing companies with practical tools that align with their business and operational needs, and facilitate their access to the digital economy,” said Amnah Ajmal, Executive Vice President, Market Development,EEMEA, Mastercard.

In addition, the companies can monitor the spend of all their remotely-located staff and branches, reducing the cost of doing business in the local currency. The new proposition will also enable organizations to save on fees while paying USD invoices and streamline all recurring expenditure into one platform.

“As one of the leading regulated corporate multi-currency spend platforms in the GCC, we are thrilled to work closely with Mastercard to provide our clients a financial operating ecosystem navigating multi-geographical operations and transactions spanning a myriad of currencies powered by smart physical and virtual corporate cards. Augmented by intuitive software, these cards empower meticulous oversight and control of departmental budgets, eliminating any worry on where and how your money is being spent,” said Maseeh Ahmed, Founder and CEO, tmam.