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Xpence – The Financial Management Platform Empowering Menap Smes- Launches Its Expense Management Solution In The UAE

Press releases

Abu Dhabi – 10 October 2022: Xpence – the MENAP regions first financial management platform with embedded business banking solutions for SMEs – announces the launch of its expense management solution in the UAE – the second of five strategic markets it plans to launch in over the next 18 months.

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Announcing this latest market entry at the GITEX Global technology conference, Xpence is now issuing VISA cards in the UAE and Bahrain. Xpence is launching its services in the UAE in partnership with Visa. Xpence was one of the first fintechs in the region to join the Visa Fintech Fast track Programme in early 2019.

UAE businesses are ideally placed to benefit from Xpence’s financial management platform. A highly digitized nation with near 100% internet penetration, the UAE is a leader of digital transformation across various industries. The country recorded over 70,000 new business licenses issued in 2021, yet many still face challenges in opening bank accounts or digitalizing their financial processes.

Built specifically to serve the 23+ million MENAP businesses that struggle to access financial services –which exposes them to vulnerable, cash-based processes – Xpence’s UAE market entry will empower businesses with digital efficiency, security and control. The financial management platform’s embedded banking solutions are tailored to local business needs, including physical and virtual employee expense cards, simplified digital invoicing, multi-currency wallets and the automation of payment processing.

Business owners in the UAE can open an Xpence account by downloading the Xpence app from the app stores. With Xpence, businesses can issue virtual and physical Visa cards to employees, which are accepted globally. They can set individual spending controls and limits on each card. Real‐time monitoring and automated bookkeeping eliminate the need for tedious expense reports, promote efficiency and can help businesses save money. 

Saad Ansari, Xpence co-founder and CEO, commented:

“We are delighted to announce the launch of Xpence’s third Visa card product via our market entry into the UAE, where our platform will provide key financial services and support to SMEs as they launch and scale their businesses, but also to larger corporations in need of more sophisticated, digital financial services. 

“Our UAE expansion reflects the rapid growth in demand across the wider MENAP region for our solutions, with over 2,000 businesses on our waiting list for our services. Xpence is changing how businesses manage their expenses with a platform that helps them save time and money so they can focus on doing what they do best ‐ growing their business. 

We look forward to continuing our expansion with Visa in pursuit of our vision to become the definitive business banking super app in the region.”

Alex McCrea, Vice President and Head of Digital Partnerships and Ventures in Central and Eastern Europe, Middle East and Africa at Visa, said: 

“As the global leader in digital payments, Visa strives to provide innovative solutions that address the evolving payment needs of SME businesses, entrepreneurs and freelancers everywhere. We are delighted to partner with Xpence in launching this exciting payment solution that can help businesses in the GCC region control spend, maximize visibility, and optimize cashflow more conveniently and securely. 

We look forward to supporting Xpence’s expansion and joining them in enabling the digital transformation of more businesses across the region.”

Xpence is working with regulators in key markets across the MENAP region. It is legally incorporated in five of the MENAP region’s most exciting economies, and maintains BIN sponsorship arrangements with leading banks in each market. 

The platform is available now as a free download from the Apple App Store and Google Play Store. For more information or to download the app, visit

NEAR, Visa