Alaan, UAE’s fastest-growing corporate card solution, and Visa, a global leader in digital payments, have unveiled a landmark 5-year deal aimed at digitizing expense management processes for businesses in the UAE and KSA.

This strategic alliance seeks to harness Visa’s renowned payment network, VisaNet, alongside Alaan’s AI-powered spend management system to provide enhanced financial control and visibility to businesses across the region. The partnership aligns with the cashless society agendas of the UAE and KSA governments, heralding a new era in corporate expense handling in the Middle East.

As Visa spearheads the transformation of payments and money movement for regional businesses, this collaboration arrives amidst a notable shift in the handling of corporate expenses in the Middle East. It underscores Visa’s commitment to advancing the payment technology ecosystem.

For Alaan, the partnership signifies a significant milestone in its mission to innovate and invest in R&D to serve forward-thinking businesses in the Middle East. By leveraging technology, Alaan aims to empower companies to take charge of their business spend efficiently. This alliance promises Alaan’s clientele enhanced efficiency, security, and flexibility in managing 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.”

With over 500 organizations currently utilizing its platform, Alaan is poised to expand its reach further through this partnership. The collaboration promises advancements in real-time tracking, automated reconciliations, and streamlined expense management for businesses. Leveraging Visa’s global network, Alaan will offer seamless international payment capabilities to its users, augmenting 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 extends beyond product integration, including 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 collaborative journey, businesses in the Middle East can anticipate a future where managing corporate spending is not only easier but also a strategic advantage, propelling them towards greater efficiency and success in the digital era.