Dubai, UAE – Ragilly today announced a new strategic partnership with Visa, a world leader in digital payments, designed to revolutionize business-to-business (B2B) payments and invoice financing through an innovative Business Payment Solution Provider (BPSP) platform Finigenie. This transformative offering is set to empower businesses in the UAE by digitizing and optimizing their vendor payments, addressing key market challenges, and driving financial efficiency.
The current B2B payment landscape is filled with challenges, including limited liquidity and limited cash flow due to upfront supplier payments. Many vendors and small to medium-sized enterprises (SMEs) do not accept card payments, creating significant barriers. Additionally, manual reconciliation processes and delayed invoice tracking slow down operational efficiency.
The Ragilly and Visa partnership introduces a comprehensive BPSP solution that addresses these critical issues. The platform enhances liquidity by allowing buyers to leverage Visa Commercial Cards to pay suppliers directly into their bank account reducing their DSO (Days Sales Outstanding). It increases card acceptance by enabling card payments to vendors and SMEs, expanding payment flexibility and convenience. The platform also offers automated reconciliation and real-time invoice tracking, streamlining financial processes and reducing administrative burdens.
“At Ragilly, we are dedicated to driving innovation in B2B payments. Our partnership with Visa signifies a major step forward in providing businesses with the tools they need to optimize their financial operations and thrive in a competitive market,” said Shovankar Roy, CEO of Ragilly Technologies.
Pinaaz Kulkarni, Vice President, Visa Commercial Solutions for Central and Eastern Europe, Middle East and Africa, added, “Visa is committed to advancing digital payment solutions that empower businesses. Our collaboration with Ragilly demonstrates our dedication to enhancing B2B payment processes, ensuring security, and delivering value to our clients.”
About Visa
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable, and secure payments network, enabling individuals, businesses, and economies to thrive. We believe that economies that include everyone everywhere uplift everyone everywhere and see access as foundational to the future of money movement
About Ragilly
Ragilly Technologies, founded in 2018, aims to simplify financial operations for businesses. In 2020, they launched Finigenie, a fintech platform for vendor payments, expense management, and utility bill processing. Partnerships with RuPay and Visa in 2021 led to corporate payment cards, transforming SME payouts and expenses. In 2022, Ragilly expanded to the UAE, offering fintech solutions that connect India and the Middle East. Now a leader in B2B payment innovation, Ragilly uses AI automation for efficiency, enabling businesses to focus on growth.
