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.
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