SimpliFi, the leading Cards as a Service (CaaS) platform in MENAP, empowers organizations to drive new revenue streams, manage costs and streamline business operations, with the introduction of Multi-Currency cards across the region.
With businesses moving to digital channels and borders increasingly becoming less relevant, the ability to pay and get paid globally in local currencies is becoming a necessity. By providing the ability to create and issue Multi-Currency cards, SimpliFi is supporting businesses create unique and relevant payment experiences to solve their pain points.
SimpliFi Multi-Currency lets businesses issue cards in multiple currencies to match their spend with in-depth insights into how their cash flow movement is being managed across currencies while reducing exchange losses and administrative costs.
Founder and CEO of SimpliFi, Ali Sattar says, “Cross-border spending is increasing rapidly and will continue to do so; this is an opportunity to accelerate access to efficient, reliable cross-border payments. Multi-Currency cards offer consumers, freelancers, and businesses better payment experiences by providing more choice, convenience, operational efficiencies, and savings. At SimpliFi, we aim to be the driving force that supports businesses to supplement their revenue streams, while having more control over foreign exchange costs. This truly is the future of payments.”
SimpliFi Multi-Currency offers businesses the opportunity to generate additional revenues through foreign exchange while reducing the complexities related to administration and operational costs. It also allows companies to boost their bottom line and benefit from unique payment experiences, and forecast spending in matching currencies.
SimpliFi offers single cards with Multi-Currency options, where the cardholder can move funds across various supported currency pockets, or multiple cards each with a single currency.
Key use cases include:
● Corporate Expense
Make supplier or subscription payments in billed currencies with control over FX rates.
● Personal Finance Management
Offer users the option to have funds saved in multiple currencies, whether in single-currency cards or multi-currency pockets.
● Business/Personal Travel
Move money ahead of trips by easily and cost-effectively converting funds into different currencies to spend while travelling.
● Freelance Work
Provide users with a solution to collect money in their choice of currency.
SimpliFi currently offers 8 currencies with multi-currency cards available in the US Dollar (USD), UAE Dirham (AED), Saudi Riyal (SAR), Bahraini Dinar (BHD), Kuwaiti Dinar (KWD), Omani Rial (OMR), Qatari Riyal (QTR), Jordanian Dinar (JOD).