Paymentology , a global issuer-processor company, has announced its partnership with a Kenyan technology company, Boya , aiming to simplify expense management for businesses in Kenya. Together with Kenyan Bank, Diamond Trust Bank, and Paymentology, Boya recently launched its virtual expense card.

Paymentology supports Boya’s virtual expense card by connecting Boya to Visa through its card issuing platform and providing data analytics capabilities, aimed at helping businesses manage both local and international payments and expenses. Boya, founded in 2021, offers the Boya platform, which is a cloud-based expense management solution that aims to streamline the entire operations of businesses. It includes easy expense tracking through mobile and web apps aided by customisable categories and automatic transaction recording.

The platform also provides approval workflows which can be tailored to organisational structures, facilitating smooth reviews and authorisations. The solution features reporting capabilities, generating reports for better financial insights and decision-making. Moreover, integration with popular accounting software minimises manual data entry and ensures adherence to company guidelines and regulations. Boya’s mobile app enables employees to manage expenses and track approvals from both iOS and Android devices. The company's aim is to simplify expense management, enhance financial visibility, and promote cost savings for businesses.

Paymentolgy’s development strategy Based in the UK, Paymentology is a global issuer-processor company that provides customers, partners, and banks with the required services for issuing and processing various types of physical or virtual cards. The company has had multiple partnerships and product launches in 2023 across several geographical locations. In August 2023, Paymentolgy partnered with DolarApp to enable Mexicans to make transactions in USD with no fees.

Paymentology provided DolarApp with a fast and scalable card payment programme, along with tokenization and security services. The services enabled through Paymentology encompass virtual and physical Mastercard card processing, 3DSecure technology, Apple Pay, and Google Pay. In July 2023, Paymentolgy expanded its partnership with e-payment and financial services provider TrueMoney.

The collaboration was expected to enable the two companies to leverage the card issuing platform and analytics capabilities made available by Paymentology to further enhance the financial services in Thailand, as well as Cambodia. Similarly, in July 2023, the company announced its partnership with Monese’s XYB in order to improve the latter’s coreless banking platform. The platform was designed to offer banks and other financial institutions the ability to provide their customers and client base financial services in a fast and secure manner. With this partnership, XYB would extend its capabilities and will improve its technology infrastructure, aiming to offer a dynamic and efficient experience for its interconnected platform’s users.

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