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KamelPay has launched AbsoluteCard, an integrated corporate payments platform for businesses in the UAE, combining a web portal, mobile app and a Mastercard-powered corporate card to help companies manage expenses, virtual IBANs and compliance. The card is sponsored by Mawarid Finance.
What does KamelPay AbsoluteCard do
- Issues physical and virtual corporate cards instantly.
- Let’s set specific budgets per card or team.
- Monitors transactions in real time.
- Issues multiple virtual IBANs instantly, so businesses can separate funds across different entities and projects.
- Centralises approvals through a single sign-off portal.
- Loads funds in real time so teams can allocate budgets as needed.
KamelPay built AbsoluteCard to replace manual administrative workflows, aiming to reduce the time finance teams spend reconciling transactions.
Corporate tax and e-invoicing
AbsoluteCard arrives as UAE businesses adjust to two recent administrative changes: the introduction of corporate tax and new e-invoicing requirements. Both add reporting and reconciliation work for finance teams, which is the specific gap KamelPay is positioning AbsoluteCard to fill, rather than a general-purpose expense card.
What this means for the users
The AbsoluteCard benefits the two types of users largely – Finance teams and banks.
For UAE finance teams
The combination of instant card issuance, real-time budget monitoring, multiple virtual IBANs and a single approval portal targets a specific pain point: finance teams currently reconciling corporate tax and e-invoicing paperwork across separate systems. Centralising that oversight in one platform is the practical change, not the card itself.
For banks and financial institutions
KamelPay built AbsoluteCard as a plug-in product rather than a direct-to-business app alone. Banks, exchange houses and other financial institutions can offer it to their own institutional clients without building the underlying infrastructure themselves. That is a distribution bet as much as a product one: KamelPay’s growth depends on how many financial institutions pick it up and resell it, not just on direct signups.
Looking Ahead
KamelPay has not named which banks or financial institutions will distribute AbsoluteCard, or given a rollout timeline for the plug-in model across the GCC. The company frames the distribution approach as the basis for the next phase of business payments in the region, but that claim rests on partner banks actually adopting it.
What is AbsoluteCard?
An integrated corporate payments platform from KamelPay combining a web portal, mobile app and Mastercard corporate card for UAE businesses.
Who sponsors the AbsoluteCard corporate card?
Mawarid Finance.
What problem is AbsoluteCard built to solve?
Managing the added administrative and reconciliation work created by the UAE’s corporate tax and e-invoicing requirements.
Can businesses issue their own virtual IBANs through AbsoluteCard?
Yes, the platform supports instant issuance of multiple virtual IBANs to separate funds across entities and projects.
How is AbsoluteCard distributed?
As a plug-in product that banks, exchange houses and other financial institutions can offer to their own clients without building new infrastructure.
Editor’s take: The product itself, card plus IBANs plus approvals in one portal, is a reasonable answer to a real problem: UAE finance teams now have more compliance paperwork than they did two years ago. The more interesting bet is the distribution model. KamelPay is selling AbsoluteCard directly to businesses and to banks for resale. That means the real test of this launch is whether any bank actually adopts it. No partner institutions are named yet.