Beyon, the Bahrain-based technology group, has announced the launch of Beyon Money Business, a new vertical offering digital financial solutions tailored to both SMEs and Corporates.
Delivering expense management through prepaid cards, profitable solutions to invest company liquidity through Flexi Invest, and B2B instant payments, Beyon Money Business, set to be launched by the end of Q1 2024, will provide a seamless experience for customers, starting in Bahrain and expanding into the MENA region.
Sheikh Mohammed bin Khalifa Al Khalifa Chief Digital Growth Officer Beyon
“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.”
Digital Prepaid Corporate Cards
Companies registering with Beyon Money Business will be empowered to issue digital prepaid corporate cards for their team members enabling an efficient and digitized process to handle departmental requirements such as petty cash, invoice payments, travel expenses and much more. The solution has been developed in partnership with Tmam, a leading spend and expense management platform catering to businesses in the GCC.
Beyon Money Business is being developed to enhance the digitization of payment processes for businesses, helping to reduce timelines for many day-to-day activities including expense reconciliation, receipt consolidation and budgeting. Additionally, it will automate financial system processes, ensuring efficiency and eliminating errors linked to manual expense reporting, providing analytic tools with valuable insights into spending patterns, expense categories and trends.
Flexi Invest
Beyon Money Business will also allow companies to invest their liquidity through Flexi Invest, the most innovative liquidity remuneration product in the MENA market offering attractive returns by seamlessly investing their cash, with the freedom to withdraw at any time with no penalty and monthly profit payments.
