Mastercard has entered a strategic partnership with tmam - one of the leaders in 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 digitize their corporate expenses while saving money on company spend.
With a transparent fee structure and deep integration into leading accounting platforms, tmam provides unlimited physical and virtual cards in regional currencies, including USD, with EUR and GBP to follow, to businesses of any size worldwide.
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. 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.
“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.
“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. With the backing of Mastercard’s platform, they can be utilized seamlessly across the vast expanse of online retailers and global merchant locales,” said Maseeh Ahmed, Founder and CEO, tmam.
Pursuing its vision of financial automation, tmam works closely with its clients to build solutions by them and not for them. Supporting the company are leading fintech investors, such as Aditum, JIMCO, Plus VC, and a number of strategic angels stretching from Silicon Valley to South Africa and the Middle East.