KamelPay taps Paymentology to power new UAE corporate card platform

KamelPay, a fintech based in the United Arab Emirates, has partnered with the issuer-processor Paymentology to power AbsoluteCard, a corporate payments platform for businesses in the country, the companies said in a statement dated July 21. Paymentology provides the cloud-based, API-driven infrastructure behind the platform.

AbsoluteCard combines physical and virtual corporate cards with real-time spending controls and expense management. It launches with three options: a card for senior executives, an edition aimed at government and administrative expenses, and a customisable business card for categories such as travel, logistics and software subscriptions, according to the announcement.

“KamelPay is setting a new benchmark for how payments can drive meaningful financial inclusion,” said Nauman Hassan, regional director for the Middle East and North Africa at Paymentology, in the statement.

The underlying platform launched on July 16, running on cards issued by Mawarid Finance over the Mastercard network, and brings together a web portal, a mobile app and instant virtual IBANs, KamelPay said at the time. The company positioned the product as a response to a more regulated environment in the UAE, where corporate tax and electronic invoicing requirements have raised the importance of tracking and reporting business expenses.

Spending limits can be set by card, team or use case, and reconciliation is automated, the company said. Ehsan Rahman, co-founder and chief executive of KamelPay, said the Paymentology partnership gives the company a compliant foundation to expand its move into corporate payments.