KamelPay has unveiled AbsoluteCard, a comprehensive corporate payments platform designed to address the administrative challenges faced by businesses in the UAE following the introduction of corporate tax and e-invoicing. This innovative solution, accessible via a web portal and mobile application, features a corporate card backed by the Mastercard network and is sponsored by Mawarid Finance. Companies can issue both physical and virtual cards instantaneously, set specific budgets, and monitor transactions in real time, thereby enhancing financial oversight and efficiency.
The platform also enables the instant issuance of multiple virtual IBANs, allowing businesses to segregate funds across various projects or entities for improved management. A centralized sign-off portal streamlines approval processes, while real-time fund loading provides teams with the flexibility to allocate budgets as needed. By automating manual workflows, AbsoluteCard is positioned to significantly reduce the time finance teams spend on transaction reconciliation, ultimately driving productivity.
Ehsan Rahman, Co-founder and CEO of KamelPay, emphasized that AbsoluteCard represents a shift towards modernizing corporate payments in the region, offering tools that empower finance teams with greater control and visibility. Additionally, the platform serves as a plug-in solution for banks, exchange houses, and financial institutions, enabling them to offer this spend management tool to their clients without the need for extensive infrastructure development. This scalable distribution model is set to transform business payments across the GCC, paving the way for more streamlined financial operations.
As the UAE continues to evolve its regulatory landscape, solutions like AbsoluteCard are becoming increasingly vital for businesses navigating new compliance requirements. The ability to efficiently manage corporate payments not only enhances operational efficiency but also positions KamelPay strategically within the competitive fintech landscape of the Gulf, appealing to both institutional clients and financial partners alike.
The platform also enables the instant issuance of multiple virtual IBANs, allowing businesses to segregate funds across various projects or entities for improved management. A centralized sign-off portal streamlines approval processes, while real-time fund loading provides teams with the flexibility to allocate budgets as needed. By automating manual workflows, AbsoluteCard is positioned to significantly reduce the time finance teams spend on transaction reconciliation, ultimately driving productivity.
Ehsan Rahman, Co-founder and CEO of KamelPay, emphasized that AbsoluteCard represents a shift towards modernizing corporate payments in the region, offering tools that empower finance teams with greater control and visibility. Additionally, the platform serves as a plug-in solution for banks, exchange houses, and financial institutions, enabling them to offer this spend management tool to their clients without the need for extensive infrastructure development. This scalable distribution model is set to transform business payments across the GCC, paving the way for more streamlined financial operations.
As the UAE continues to evolve its regulatory landscape, solutions like AbsoluteCard are becoming increasingly vital for businesses navigating new compliance requirements. The ability to efficiently manage corporate payments not only enhances operational efficiency but also positions KamelPay strategically within the competitive fintech landscape of the Gulf, appealing to both institutional clients and financial partners alike.
Source: Fintech News ME
