Fintech & Ecommerce

Visa announced collaboration with Zurich-based fintech

Visa

Visa announced collaboration with Zurich-based fintech. Source: pexels.com

Visa and Yokoy have entered into a partnership that will create a debit card that automates and digitises transactions.

Yokoy’s system is an assimilation platform that connects cards to resource management systems and spend management software. The Yokoy Visa Business Card is suitable for all commerce-related expenses and can be used as a digital or physical card. If used in the EU region, the card attracts zero fees. It can also be used globally.

Users have an option of choosing between a physical or a digital product when ordering the card. Once ordered, digital cards are sent immediately. Users can access all relevant information in the Yokoy platform and use the cards immediately. Firms can also choose processes for individuals and specific remittances. The physical and virtual cards can be assimilated into the Yokoy spend management whereby real time data exchange is available. Marqeta powers the debit card.

The software works with common HR and financial systems. The system automatically transfers all transactions into the Yokoy platform whereby they are reconciled using stored receipts.

We are very pleased to announce the joint pan-European launch of the Yokoy Visa Business Card. With Yokoy, we have a fast-growing partner and innovation driver on our side, offering businesses in Europe a modern and comprehensive spend management solution. This includes a card with direct connection to the company account, which employees can use both contactlessly and on the go at the point of sale, as well as online or in-app at 80 million acceptance points worldwide
Ute König-Stemmler, Head of Business Development Central Europe at Visa

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