In a major stride towards bolstering digital financial services, Beyon has officially announced the impending launch of Beyon Money Business. This new vertical is poised to revolutionize the landscape for Small and Medium Enterprises (SMEs) and Corporates by offering bespoke digital financial solutions. The comprehensive suite includes cutting-edge features such as expense management through digital prepaid cards, the innovative liquidity remuneration product Flexi Invest, and seamless B2B instant payments.

Expense Management Redefined with Digital Prepaid Cards

One of the standout features of Beyon Money Business is its focus on empowering companies to streamline their financial processes through digital prepaid corporate cards. These cards will enable businesses to efficiently handle various departmental requirements, ranging from petty cash transactions to invoice payments and travel expenses. The platform has been developed in collaboration with Tmam, a leading spend and expense management platform catering to businesses in the Gulf Cooperation Council (GCC) region.

The implementation of digital prepaid cards is geared towards enhancing the digitization of payment processes for businesses. Beyon Money Business aims to reduce timelines for day-to-day activities, including expense reconciliation, receipt consolidation, and budgeting. The platform’s automation of financial system processes ensures efficiency, eliminating errors associated with manual expense reporting. Moreover, it provides analytical tools that offer valuable insights into spending patterns, expense categories, and trends.

Invest and Earn with Flexi Invest

Flexi Invest, an integral component of Beyon Money Business, presents an innovative liquidity remuneration product in the Middle East and North Africa (MENA) market. This product empowers companies to invest their liquidity seamlessly, offering attractive returns. Notably, businesses utilizing Flexi Invest have the freedom to withdraw their funds at any time without incurring penalties, coupled with monthly profit payments.

Shaikh Mohamed bin Khalifa Al Khalifa, Beyon’s Chief Digital Growth Officer, emphasized the strategic significance of Beyon Money Business. He stated, “We continue our portfolio expansion path by addressing the requirements of SMEs and Corporates with the launch of Beyon Money Business. We understand how SMEs and Corporates are in strong need of digital financial services and Beyon Money Business provides tools for the management of companies’ liquidity, optimizing their spending with prepaid cards for their employees, generating profits on their liquidity through Flexi Invest, and reducing their merchant acquiring cost through Beyon Money Checkout, the only B2B digital wallet payment solution available in Bahrain.”

Beyon Money Business Launch Details

The highly anticipated Beyon Money Business is scheduled for launch by the end of the first quarter in 2024. Registration is currently open for interested parties to join the waiting list, marking a crucial step towards the platform’s expansion into the MENA region. Prospective users can express their interest and learn more about the revolutionary financial solutions offered by visiting beyonmoney.com/business.

With Beyon Money Business, Beyon is set to redefine the financial landscape for SMEs and Corporates, providing them with the tools and technologies essential for effective financial management in the digital age.