Founded in October 2021 and headquartered in DIFC, Dubai, Pluto Technologies Ltd has quickly positioned itself as one of the Gulf's most feature-rich corporate spend management platforms. The company rebranded from plutocard.io to getpluto.com in April 2024, signalling its ambition to be seen as a full-stack financial operations platform rather than just a card issuer.
Pluto's own tagline, "Ramp for the Middle East", is deliberately ambitious. Ramp is one of the most successful spend management companies in the US, and the comparison captures Pluto's philosophy: unlimited cards, automated accounting, and sophisticated approval workflows, all designed to remove friction from how businesses spend money.
To date, Pluto has raised approximately $10.1M in funding: a $6M seed round in February 2022 led by Global Founders Capital, and a $4.1M pre-Series A in January 2025 led by Rhino Ventures. Its backer list includes notable fintech operators, the CTO of Ramp, the co-founder of Plaid, and the founder of Airbase. The platform currently manages over AED 1 billion in annualised spend and has earned more than 500 reviews on G2, where it holds a G2 Leader EMEA 2025 badge.
Pluto's cards are issued by NymCard Payment Services LLC (CBUAE-licensed, Mastercard BIN sponsored by Mashreq Bank). International payments are facilitated through TransferMate, an Irish EMI that is also a DFSA authorised representative in the UAE. Pluto itself received in-principle DFSA approval for a Payments Services Business licence in July 2024, but full authorisation remains pending.
Mamo is a DIFC-headquartered, DFSA-regulated fintech that sits at a unique intersection: it is the only UAE platform offering both a full payment gateway, for businesses to accept money from customers, and a corporate card and expense management suite, for businesses to control how they spend money.
On the payment acceptance side, Mamo supports Visa, Mastercard, Amex, Jaywan (UAE local scheme), Tabby (BNPL), mada, Apple Pay, and Google Pay, delivered via payment gateway, payment links, and QR codes. On the spend management side, Mamo provides corporate Mamo Cards, expense management tools, and global payouts, with cashback of up to 0.5% on AED (unlimited) spend and up to 2% on non-AED (unlimited) spend (promotional rates up to 8% available for limited periods).
Mamo's Growth plan has no monthly fee; its Premium plan costs AED 99/month. Transaction fees are 2.7% + AED 0.80 (Premium) or 2.9% + AED 1.00 (Growth). Same-day settlement is available at an additional fee, +0.5% on Premium or +0.75% on Growth, and is not included as standard. Standard settlement takes 2–5 business days.
| Feature | Pluto | Mamo |
|---|---|---|
| Payment gateway (accept customer payments) | No | Yes |
| Payment links | No | Yes |
| POS terminal | No | No |
| QR code payments | No | Yes |
| Corporate expense cards | Yes (Mastercard, prepaid) | Yes (Visa,unlimited, free) |
| Virtual + physical cards | Unlimited | Yes |
| Per-card spending limits | Yes | Yes |
| Merchant category restrictions | Yes | Yes |
| Approval workflows | Yes (no-code) | Yes |
| AI bookkeeping / auto-categorisation | Yes (PlutoAI) | Yes |
| Accounting integrations | 50+ (Xero, QBO, NetSuite, SAP, Zoho, Dynamics) | Yes (major integrations) |
| Procure-to-pay (PO, GRN, contracts) | Yes | Limited |
| Employee reimbursements | Yes | Yes |
| Fleet cards | Yes (up to 2% fuel cashback) | No |
| Global payouts / FX transfers | Yes (via TransferMate) | Yes |
| Cashback | Up to 2% FX / 1.25% domestic (Growth) | 0.5% AED / 2% non-AED |
| Regulatory status | In-principle DFSA approval (July 2024, full licence pending) | Fully DFSA-regulated |
| Monthly pricing | $0 Free / $99 Growth / Custom Enterprise | AED 0 Growth / AED 99/month Premium |
| Markets | UAE, KSA, Egypt; expanding | UAE (primary) |
| Total funding raised | ~$10.1M | Undisclosed |
For businesses that manage purchase orders, goods receipt notes, and supplier contracts, Pluto's procure-to-pay suite is the most comprehensive available in the Gulf today. Purchase requisitions, three-way PO matching, GRN workflows, and contract tracking are all native to the platform, a set of capabilities that typically requires a standalone ERP module in less integrated environments.
With over 50 accounting and ERP integrations, including NetSuite, SAP, Microsoft Dynamics, Zoho Books, Xero, and QuickBooks, Pluto is particularly well-suited to mid-market businesses running complex financial stacks. The integrations are bidirectional, and PlutoAI can chase receipts, auto-categorise transactions, and propose GL journal entries without manual intervention.
Pluto offers dedicated fleet cards, a feature Mamo does not match, with up to 2% cashback on foreign-currency spend.
Pluto's Free Forever plan allows teams of up to 5 users to access core card and expense features at no monthly cost. For early-stage startups or very small teams that need basic spend controls without a subscription commitment, this is a genuine entry point.
Pluto has already partnered with neoleap (Al Rajhi Bank) to extend into Saudi Arabia (September 2024), and has mentioned Egypt, Bahrain, Kuwait, Qatar, and Turkey as target markets. Businesses planning multi-market Gulf expansion may find Pluto's roadmap aligns with their growth trajectory.
This is Mamo's clearest differentiator: no other DFSA-regulated platform in the UAE offers both inbound payment acceptance and outbound corporate spend management in a single product suite. For UAE SMEs that need to accept payments from customers (online, via link, or QR) and control employee spend, consolidating onto one platform eliminates reconciliation complexity and reduces vendor overhead.
Pluto is exclusively an outbound spend platform. It has no payment gateway, no payment links, no POS terminals, and no merchant-acquiring capabilities. A Pluto customer who also needs to accept customer payments must maintain a completely separate payments provider.
Mamo is fully DFSA-regulated. Pluto received in-principle DFSA approval for a Payments Services Business licence in July 2024, but full authorisation is still pending. For businesses operating under strict treasury or compliance policies, particularly those based in DIFC or operating under DIFC contracts, the regulatory distinction matters.
Mamo's transaction fees are denominated in AED, aligning with how UAE businesses plan and report. Pluto's plans are priced in USD ($99/month for Growth), which can introduce friction at the accounting layer for AED-first finance teams.
Mamo's Growth plan carries no monthly subscription fee and is priced entirely on a per-transaction basis. The Premium plan costs AED 99/month plus per-transaction fees, which suits businesses with higher transaction volumes.
Mamo's Growth plan is free with unlimited cards. Pluto's free plan stops at 5 users.
| Plan | Pluto | Mamo |
|---|---|---|
| Free / entry tier | $0/month (up to 5-10 users, limited features) | Growth: AED 0 monthly fee (transaction-based) |
| Mid-tier | $99/month Growth (~AED 363); ~30 users included; $9/month per additional user | Premium: AED 99/month + 2.7% + AED 0.80 per transaction |
| Higher tier | Custom Enterprise pricing | Growth: 2.9% + AED 1.00 per transaction |
| Same-day settlement | Not applicable (outbound spend only) | +0.5% Premium / +0.75% Growth (additional fee, not included as standard) |
| FX fees on card swipes | Claims zero FX fees (unverified by independent source) | up to 2% unlimited cashback on non-AED spend |
| International wire payments | Free for transfers above $6,000 (via TransferMate) | Global payouts available |
Pluto is the stronger choice if your business:
Mamo is the stronger choice if your business:
No. Pluto is a pure outbound spend management platform. It does not offer a payment gateway, payment links, POS terminals, or any merchant-acquiring services. If your business needs to accept payments from customers, whether online or via QR code, you will need a separate provider. Mamo offers all of these alongside corporate card management.
Not yet. Pluto received in-principle DFSA approval for a Payments Services Business licence in July 2024, but full authorisation remains pending. Cards are issued by NymCard (CBUAE-licensed, Mastercard BIN sponsored by Mashreq Bank), and international payments are processed via TransferMate, which holds DFSA authorised representative status. Mamo is fully DFSA-regulated.
No. Same-day settlement is an optional feature that carries an additional fee on top of the standard per-transaction rate: +0.5% on the Premium plan, or +0.75% on the Growth plan. Standard settlement takes 2–5 business days at no additional charge.
Mamo offers up to 0.5% unlimited cashback on AED-denominated spend and up to 2% unlimited cashback on non-AED (foreign currency) spend. Promotional cashback rates up to 8% are available for limited periods, check current terms on the Mamo website.
No. Pluto issues prepaid Mastercard cards (virtual and physical), not credit cards. Spend is funded by a pre-loaded balance, meaning businesses must maintain sufficient float. Neither Pluto nor Mamo currently offers revolving credit facilities.
Yes. Pluto supports employee expense reimbursements alongside its card issuance and procure-to-pay features. Employees can submit receipts, which PlutoAI can automatically categorise and match to transactions, reducing the manual overhead typically associated with reimbursement workflows.
Choose Pluto if procure-to-pay workflows, fleet cards or deep accounting integrations drive your finance process.
Choose Mamo if you also need to accept customer payments, want unlimited free cards without user caps, and prefer a platform that already holds full DFSA regulation rather than in-principle approval.
Mamo does both, under full DFSA regulation.
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