Visa has partnered with Aseel Islamic Finance to launch the Visa Platinum business credit card in the MENA region that aims to address the financing needs of SMEs.
The product has been designed to provide SMEs in the MENA region with a new way to manage their business expenses via Visa IntelliLink for Small Business (VISB).
The web based tool, VISB, provides customers access to transaction data, enabling SMEs to track spending and stay on budget.
The card will facilitate financial management for users, enabling them to view and manage all their expenses in one location. It features a low fixed monthly fee and offers highest credit card limits in the market to eligible customers.
Using this card, cardholders can gain discounts and benefits that help reduce business expenses on hotels, rentals, courier services, restaurants, gifts. The card also offers a reward system for SME business customers that allows cardholders to convert reward points into cash back every card anniversary year.
Aseel Islamic Finance CEO Fatima Qasimi said: "We wanted to go beyond offering SMEs more business finances, and to focus on providing them with a well-rounded product that gives them a financing line in addition to other supporting features that would facilitate their workflow."
"Visa IntelliLink is a powerful financial tool which will allow our customers to efficiently track key spending data via a customisable reporting dashboard.
"The tool enables SMEs to create spending reports and generate transaction categories to easily monitor expenses, as well as receive spend-based email notifications after certain transactions occur, giving our customers an advanced financial solution which they can access every day."