Mohammad Ajmal Basheer, Head of Processing at AFS & Hussain Alherz, Co-Founder of Xpence. | Image Supplied
Arab Financial Services (AFS), the Middle East and Africa region’s leading digital payment solutions provider and fintech enabler, has entered into a strategic partnership with Xpence, the award-winning financial management platform.
This partnership 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.
According to the statement, “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.
The company noted that participation in the Visa Fintech Fast Track program 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.
Mohammed Ajmal Basheer, Head of Processing at AFS, said that, “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, expressed enthusiasm about the partnership, stating that, “Joining forces with AFS marks a significant milestone in our mission to revolutionize 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.”
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