Paymentology has joined forces with Kenyan technology company Boya. This partnership has led to the unveiling of an advanced virtual expense card through the collaborative efforts of Boya, Diamond Trust Bank (DTB), and Paymentology.
Boya, an emerging force in cloud-based expense management solutions, was established in 2021. The company’s platform presents a comprehensive solution for streamlining expense tracking and management for businesses across varying scales. This innovative system simplifies and automates the entire process, promising improved financial visibility and enhanced decision-making capabilities.
Through Boya’s mobile and web applications, businesses gain easy access to real-time expense tracking, reinforced by customizable categories and automatic transaction recording. Moreover, Boya’s system allows organizations to adapt approval workflows in accordance with their unique structures, facilitating seamless reviews and approvals.
One of the most promising facets of Boya’s platform is its potent reporting capabilities. By generating detailed reports, businesses can gain deeper financial insights, thereby empowering more informed decision-making. Additionally, Boya’s integration with popular accounting software obliterates the need for manual data entry, ensuring adherence to company guidelines and regulatory standards.
The Role of Paymentology and DTB
Paymentology, renowned for its global expertise in issuer-processing, has been instrumental in Boya’s recent innovation. The partnership has enabled Boya to connect with Visa through Paymentology’s cutting-edge card issuing platform. This integration not only facilitates the launch of the virtual Visa expense card but also provides access to advanced data analytics capabilities.
Diamond Trust Bank, a prominent Kenyan tier 1 bank, is another key player in this collaboration. Their involvement has significantly enhanced Boya’s efforts by providing the necessary financial infrastructure for a seamless launch.
Advantages of the Virtual Expense Card
The virtual Visa expense card, powered by Paymentology’s technology, is poised to bring about a paradigm shift in business expenditure. Boya’s mobile app allows employees to manage expenses and track approvals effortlessly via iOS and Android devices. This user-friendly interface contributes to efficient expense management, promotes financial visibility, and fosters cost-saving initiatives within businesses.
Comments from Key Stakeholders
Alphas Sinja, Chief Executive Officer at Boya, expressed his excitement regarding the partnership and the launch of the virtual Visa expense card. He highlighted how Boya’s collaboration with Paymentology has facilitated a robust and scalable infrastructure solution, aligning with their mission to enhance business spending decisions in Kenya.
Kirsten Wortmann, Regional Director for Africa at Paymentology, emphasized the importance of agility and innovation in the contemporary business landscape. Wortmann articulated Paymentology’s commitment to supporting Boya’s virtual card launch, acknowledging the pivotal role efficient financial tools play in Kenya’s business ecosystem.
Read: DPO Pay Affirms Commitment to Financial Inclusion in Tanzania