Pluto Card Achieves Key Milestone With DFSA In-Principle Approval For Payments Services Business

Pluto, the UAE home-grown end-to-end spend management platform, has announced that it has received an In-principle approval for Payments Services Business from the Dubai Financial Services Authority (DFSA).

This significant milestone marks a crucial advance for Pluto, reinforcing the company’s commitment to providing state-of-the-art infrastructure to SMBs and corporates operating in the UAE and the region from the most prominent financial hub, the Dubai International Financial Centre (DIFC).

“We are thrilled to have received this In-principle approval from the DFSA. This endorsement underscores our dedication to offering innovative financial solutions through our regulated partnerships with pioneering fintech collaborations. Our mission at Pluto is to build the future of CFO finance tooling, allowing businesses to manage their entire global company spending within one collaborative and automated platform,” comments Mohammed Ridwan, Co-Founder and COO of Pluto.

Nayeem Zen, Mo Aziz, and Mohammed Ridwan, Co-Founders, Pluto

Pluto combines the power of instant issuance of unlimited corporate cards with full end-to-end reimbursements, petty cash management, procurement, and accounts payable management, all within one platform. From small businesses to the largest multinational group holdings, Pluto has been trusted by a diverse range of enterprises for managing all non-payroll spending.

For SMBs and large enterprises alike, Pluto helps businesses foster efficient expense management and streamline payments seamlessly. Pluto’s platform eliminates the need for chasing receipts, manually approving invoices via long email threads, or sharing a single corporate card among multiple employees. It brings control back to complex finance and accounting processes, creating a streamlined approach to managing company spending.

In recent news, Pluto ranked #1 in EMEA for Procure to Pay Solutions and was recognized in the prestigious G2 Rankings (Summer 2024) as a Top 10 provider globally in both Enterprise and SMB Expense Management.