Glyd announced today the launch of the Glyd Prepaid Corporate Card for SMEs in partnership with Mastercard which will help small businesses manage their expenses better, enabling them to save time and money.

Controlling and tracking business expenses is among the top 3 challenges that SMEs say they face while running their business. Mixing personal and business expenses, managing cash flow for expense advances, and controlling employee spending are just some of the challenges businesses must deal with. Glyd enables businesses to solve these problems with ease.

“We are delighted to power Glyd which will enable businesses to set their budgets and build expense policies into the Glyd Prepaid Corporate Card,” said Rajnish Kumar, Co-Founder and CEO of Instapay Technologies Sdn Bhd.  “This allows them to manage expenses and gain insights into their cash flow and prevent unauthorised spending before it happens. And what’s more, through tie-ups with partner merchants, Glyd will enable customers to get substantial discounts on their purchases, giving customers more reason to use their Glyd Prepaid Corporate Card for their official purchases.”

Beena Pothen, Country Manager, Malaysia and Brunei, Mastercard said, “Mastercard is delighted to partner with Glyd to launch a prepaid corporate card for small and medium-sized businesses (SMEs) enabling them to digitalize operations including managing expenditure and cash flow. Digital payments have become a way of life for many people and businesses around the world since the onset of the pandemic. Therefore, supporting SMEs should be the foundation of our communities and it’s even more important now to help these SMEs transform digitally so that they can grow and protect their business.”

The partnership brings together the FinTech expertise and market understanding of Glyd and Mastercard’s global acceptance. With Glyd, customers get prepaid corporate cards for their employees along with access to its expense management portal. Businesses will be able to set their expense budgets and define where, how, and how much each employee is authorised to spend. They can get physical or virtual cards, depending on their business requirements. The software provides real-time updates on spends, leading to better control and visibility over company expenses, eliminating fraud and administrative overhead.