Beyon Unveils Beyon Money Business for SMEs and Corporates
Beyon is gearing up for the launch of Beyon Money Business, a new vertical designed to provide digital financial solutions tailored to Small and Medium Enterprises (SMEs) and Corporates. This initiative, set to begin in Bahrain and expand across the MENA region, offers a range of features to streamline financial processes.
Expense Management with Digital Prepaid Cards
One of the key features of Beyon Money Business is its provision of digital prepaid corporate cards for companies. This feature enables efficient and digitized handling of various departmental requirements, including petty cash, invoice payments, and travel expenses. The solution, developed in collaboration with Tmam, a leading spend and expense management platform in the GCC, aims to enhance the digitization of payment processes for businesses. It is anticipated to reduce timelines for day-to-day activities such as expense reconciliation and receipt consolidation, automating financial system processes to ensure efficiency and eliminate errors associated with manual expense reporting. The platform will also provide analytical tools to offer valuable insights into spending patterns, expense categories, and trends.
Invest and Earn with Flexi Invest
Beyon Money Business will further enable companies to invest their liquidity through Flexi Invest, an innovative liquidity remuneration product in the MENA market. This feature allows companies to earn attractive returns by seamlessly investing their cash, with the flexibility to withdraw at any time without penalties and monthly profit payments.
Chief Digital Growth Officer Shaikh Mohamed bin Khalifa Al Khalifa stated, “Beyon Money Business addresses the requirements of SMEs and Corporates, providing tools for liquidity management, optimizing spending with prepaid cards, generating profits through Flexi Invest, and reducing merchant acquiring costs through Beyon Money Checkout, the only B2B digital wallet payment solution available in Bahrain.”
Beyon Money Business is scheduled for launch by the end of Q1 2024.
