Riyadh – Mubasher: Xpence has entered into a five-year partnership for growth agreement with Visa to expand business in Saudi Arabia, according to a press release.

Since the initial engagement under the Visa Fintech Fast Track programme in 2019, Xpence has been at the forefront of financial technology innovation in the GCC.

This new agreement aims to deepen and expand the collaboration to further drive digital transformation across the GCC financial sector, with a particular focus on small and midsize enterprises (SMEs).

Building on its successful launches in Bahrain and the UAE, Xpence, plans to continue its expansion across the GCC and widen its services throughout the region’s market.

Saad Ansari, Co-Founder and CEO of Xpence, stated: "This new agreement enables us to leverage deeper integrations and broader capabilities, paving the way for our expansion across the GCC, particularly focusing on empowering SMEs and Corporates with robust financial tools."

Hasan Kazmi, VP, head of strategic partnerships and ventures – CEMEA, Visa, commented: "Our collaboration with Xpence, beginning with the Fintech Fast Track programme, set the stage for this dynamic partnership.”

“Now, with the Partnership for Growth agreement, we are excited to support Xpence's continued leadership and innovation in providing Visa corporate cards and payment solutions that cater specifically to the needs of businesses across the GCC," Kazmi added.

In a previous interview with Mubasher, Ansari unveiled plans to scale up the business into at least three more strategic markets.