Kenyan fintech Boya Inc has launched its virtual expense card in partnership with VISA and Diamond Trust Bank – Kenya, which will help businesses to manage payments and expenses with one virtual card solution at zero fees.
The Boya platform is designed to streamline and revolutionize expense tracking and reporting for businesses of all sizes with a promise to empower organizations with unparalleled control over their financial operations. Under the partnership, Ycombinator backed Boya Inc has integrated DTB’s Cards as a Service offering into its platform. This integration will enable Boya’s customers to access virtual corporate cards, supported by the Visa card scheme. Through these virtual corporate cards, businesses can efficiently track, manage, and reconcile company expenses, streamlining financial processes and promoting financial transparency.
“Our aim is to empower businesses with a comprehensive tool that simplifies expense tracking, enhances financial control, and drives operational efficiency. By automating time-consuming tasks and providing valuable insights, our solution enables organizations to focus on core activities and achieve their strategic goals,” Boya Inc Chief Executive Officer Mr. Alphas Sinja said.
“In today’s fast-paced digital landscape, traditional expense management processes often fall short in meeting the demands of modern businesses. Cumbersome paperwork, manual reconciliation, and time-consuming expense reporting can hinder productivity and impede financial visibility. Recognizing these challenges, Boya has developed an advanced virtual card solution designed to streamline and simplify expense management.”
DTB’s Group CEO and Managing Director, Nasim Devji, highlighted the significance of this partnership, stating, “Today, we embark on an exciting journey with Boya, where innovation and collaboration will drive real change in the realm of financial services. Our goal is to accelerate the development of innovative fintech products and services by serving as the link between banking and technology. This collaboration will give the customers access to personalized, secure, and user-friendly financial solutions, and position us at the forefront of the industry,”
Boya Platform
The Boya platform is a cloud-based platform that simplifies and automates the entire expense management process. It enables businesses to effortlessly manage expenses, improve financial visibility, and drive significant cost savings.
Speaking during the event, the government reiterated its commitment to increase technology uptake across the country with a focus to knocking down barriers to access.
Key areas of focus will include protecting the interest of consumers, promoting competitive market, and ensuring reliable connection across the country. “Our focus has shifted to the key three areas to speed up uptake of technology in the country. Measures are being put in place to curb cases of fraud in digital payments as the technology growing so fast in the country,” said Ezra Chiloba, Director General, Communications Authority of Kenya.
“Our new strategy will ensure access to digital for all is realized,” he said.
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