Payments firm Instapay Technologies announced the launch of the Glyd Prepaid Corporate Card for small and mid-size enterprises (SMEs) in partnership with Mastercard.

Issued by Instapay, Glyd aims to help small businesses manage their expenses better, enabling them to save time and money.

With Glyd, SMEs will receive prepaid corporate cards, either physical or virtual, 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.

The software provides real-time update on spends, leading to better control and visibility over company expenses, eliminating fraud and administrative overhead.

In September, Instapay had secured RM 21.5 million in Series A funding round which it said it would use to launch new innovative products and help accelerate its expansion plans.

Rajnish Kumar, Co-Founder and CEO of Instapay Technologies said,

“We are delighted to power Glyd which will enable businesses to set their budgets and build expense policies into the Glyd Prepaid Corporate Card. 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 digitalise 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.”