Arab Financial Services (AFS) has partnered with Xpence to revolutionise financial management for small and medium enterprises (SMEs) in Bahrain. 

 

The partnership was inked at the Fintech Revolution Summit in Bahrain on February 14, 2024, and underscores a shared commitment to providing SMEs in Bahrain with advanced, secure, and innovative financial solutions.

 

Xpence and AFS's collaboration introduces a pioneering approach to SME financial management in Bahrain, combining Xpence's acclaimed spend management solutions with AFS's robust digital payment infrastructure. 

 

Unparalleled financial control

This alliance is poised to deliver unparalleled financial control and efficiency to Bahrain's burgeoning SME sector, driving innovation and growth within the regional economy. SMEs in Bahrain can now access a suite of financial tools designed to enhance their operational efficiency, from seamless spend management to integrated Visa card solutions, all underpinned by the security and reliability of AFS's payment network.

 

The partnership uniquely positions Xpence to tailor its offerings to the specific needs of Bahraini SMEs, integrating AFS's superior payment processing prowess. 

 

By leveraging AFS's established presence and expertise, this strategic alliance also signifies Xpence's commitment to expanding its footprint in the GCC, with Bahrain serving as a key market.

 

Accelerating the process

Participation in the Visa Fintech Fast Track programme accelerates the process of integrating with Visa, allowing Xpence to more easily leverage the reach, capabilities and security that Visa offers. 

 

The collaboration aligns with Bahrain's economic vision. By introducing cutting-edge financial technologies to the SME sector, AFS and Xpence are not only enhancing business operations but also contributing to the economic diversification and digital transformation of Bahrain.

 

Inclusive payment ecosystems

Mohammed Ajmal Basheer, Head of Processing at AFS, said: "This partnership underscores our commitment to building inclusive payment ecosystems for SMEs. We are excited to work with Xpence to develop and power digital payment tools that cater to their specific needs, supporting their digital transformation journey."

 

Hussein Al Herz, Co-Founder of Xpence, said: "Joining forces with AFS marks a significant milestone in our mission to revolutionise SME financial management in the GCC. This partnership is a testament to our shared vision of empowering businesses with innovative financial solutions that drive growth and efficiency."--TradeArabia News Service