Kenyan Technology Company Boya, Launches an All-in-one Spend Platform for SME’s.

  • Boya is an all-in-one spend platform for SME’s. Businesses will be able to pay for expenses, organize details of their spending, and a visa debit card all in one place for smarter and better spending decisions.
  • The virtual expense card will help merchants/small and medium-sized enterprises (SMEs) to manage payments and expenses with one virtual card solution at zero fees.
  • The solution will assist businesses to grow faster, secure access to growth capital, increase productivity and reduce cost of credit due to access of useful financial information.

Nairobi, 28 March, 2022: New Kenyan Technology Company Boya has launched an all-in-one spend platform for small businesses. The platform will assist businesses to pay for expenses, organize details of their spending, and a visa debit card all in one place for smarter and better spending decisions at zero fees.

The all-in-one spend platform will empower small businesses to pay for expenses in one place with details of their spending, a visa prepaid card, and a credit line to grow their businesses.

Boya, a technology company is in its quest to integrate technological advancement by adopting various innovations to offer services to its customers. The card is under control 24/7 and has the lock and unlock the card through the app at any time. It also has the additional layer of security to keep the access safe with touch ID, face recognition or password.

Speaking during the launch, Boya Chief Executive Officer Mr. Alphas Sinja said, “The move towards a cashless economy is continuously encouraging companies to come up with ingenious solutions to solve these needs. The use of the virtual expense card will ensure ease of doing business and reconciliation. It will give back financial control to merchants; track spend and an end to more paperwork. This also tremendously reduces losses for SMEs a great deal and tracking every shilling.”

The merchants will have an app to pay for expenses, a virtual Visa prepaid card, a physical visa prepaid card, 100% visibility on all spending, an automated expense reporting and credit to pay for expenses.

He added, “This platform will assist various businesses such as social commerce institutions, salons and barbers, eateries and fashion retailers who face a lot of challenges such as reconciliation nightmares due to paying all of their expenses through various non-interconnected channels such as cash, mobile money, bank and card. They also keep a manual record of expenses which is sometime inaccurate, may also miss crucial expense receipts and they have no access to credit to pay for expenses. In addition to this, they also cannot separate personal and business. Through the platform they will be able to make better financial decisions, track their finances, get useful financial information, and manage their major pain point, which are expenses and payments.”

The virtual app will assist merchants/SMEs in ease of businesses to track expenses, zero fees in terms of cost, assist individuals to make payments through single virtual app and ensuring seamless transactions.

Due to this, businesses will be able to grow faster when they have access to useful financial information which in turn may assist them secure access to growth capital. They will also increase their productivity and their cost of credit will significantly reduce when businesses have accessible and useful financial information to make decisions.

The app and card will also assist merchants to instantly pay to Mpesa, Bank and card all in one place at zero fees. It will also track all expenses in one place with insights on spending. In addition, they will be able to capture expense receipts in real-time reducing the need for physical missing receipts and access to a credit line to pay for expenses.

The Boya app and card is in partnership with Diamond Trust Bank Group (DTB) and VISA to enable merchants acquire the best services.