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Dubai, United Arab Emirates – Pluto, the leading provider of financial corporate spend management solutions in the UAE, has announced that it will be able to offer corporate cards to all employees of UAE businesses across the whole GCC and Egypt, as part of its expanded service offering and commitment to enhanced financial transformation. While Pluto will focus on the technology and building a world-class platform, the financial products on its platform are provided by its regulated partners in the region.
The announcement means that as a UAE company, finance teams can now manage their entire GCC operation spending via Pluto. Pluto’s corporate cards are unlike regular bank cards. Pluto’s corporate cards are smart cards that allow companies to have deep control over each card-based spending. For example: with Pluto, with just one click, users can create and assign a card to an employee with a budget of 500 AED per day only and can only work at Fuel Stations. The client sets the rules, Pluto automatically enforces them at the payment level. In addition, Pluto charges no FX fees, saving companies between 1-3% compared to traditional banks and other card providers.
“We are striving to pioneer solutions which allow for dynamic financial transformation. We make managing account payables easy by allowing companies to issue smart corporate cards to automate expense accounting while staying in complete control of their spending,” comments Mohammed Ridwan, Co-Founder and COO of Pluto.
Pluto has launched multi-subsidiary capabilities such that group holding companies can get a consolidated view over their spending on a single dashboard. The group has established strategic partnerships with a global remittance provider for global payments with competitive FX rates. In addition to these wins, Pluto has launched the unique Procure-to-Pay solution in MENA to automate procurement and payables automation, in addition to launching the first-of-a-kind corporate card that offers fee-free foreign exchange spending.
Pluto is also excited to announce deep open banking integrations, allowing businesses to link their corporate bank accounts to Pluto. This will enable Pluto to automatically, intelligently, and securely route all their payables on time.
Pluto offers a comprehensive suite of expense management solutions, including digital receipt capture, intelligent expense categorization, and integrated reporting tools. These solutions not only enhance financial control but also increase efficiency, enabling businesses to focus on their core operations and drive growth.
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About Pluto
Pluto; an end-to-end spend management platform.
Pluto was built to help CFOs and finance teams manage their company spend and visibility. Since launch, hundreds of customers have been using Pluto to streamline their spend management, some of which include Petrochem, Orient Travel, UDrive, Cafu, Tamara, Media 24x7, SA Consultants. A few of the solutions Pluto offers include unlimited corporate cards with department and budget-based spend control, full account payable and reimbursement solutions, and multi-departmental, multi-organization, and multi-subsidiary OpEx management, so that large mid to upper-market customers and multi-group holdings companies can better manage their finances.
