Yokoy launches Visa card for business customers

Yokoy and Visa have teamed up to develop a debit card that integrates automated payment transactions into a comprehensive spend management solution.
By: Marqeta
ZURICH - Dec. 9, 2021 - PRLog -- Zurich-based fintech Yokoy has partnered with Visa to deliver a business debit card that digitizes and automates transactions. Yokoy's software works as an integration platform connecting the card to spend management software and existing enterprise resource planning systems. Designed for all commerce-related expenses, the Yokoy Visa Business Card is available as both a physical card and a virtual product. It can be used worldwide and attracts no card fees, card account fees, transaction fees or foreign currency surcharges when used within the EU.

"The classic payment card in the B2B sector, which is typically offered in isolation, is increasingly seen as an outdated solution. But the landscape is changing, thanks to our platform, which seamlessly integrates corporate cards into customers' ecosystems. The result is complete automation from payment to accurate and rapid booking in the financial system without any manual steps. The new Yokoy card can not only be managed completely digitally, but also scores points by waiving any fees that would otherwise be charged for comparable cards. We're confident that the Yokoy Visa Business Card offers companies a truly great solution in the area of spend management," explains Philippe Sahli, CEO and co-founder of Yokoy.

When ordering their cards, customers can opt for a virtual or physical product. Virtual cards are delivered within a few seconds, and all information relevant to their use is directly available in the Yokoy platform and the cards can be used immediately. Companies can also define the application scope for specific payments or specific individuals. And both virtual and physical Yokoy cards can be fully integrated into the Yokoy spend management system, with data exchange working in real time. The debit card is powered by Marqeta, the global modern card issuing platform, whose partners include tech giants like Klarna and Uber.

"From freelancers to large corporations, businesses of all sizes are now realising the capabilities of modern payment card platforms, which allow companies to manage spending and expenses much more efficiently with real-time functionality. Marqeta's European team is delighted to support Yokoy's exciting roadmap and we're certain this is an innovator to watch. By choosing to work with Marqeta, Yokoy has many of the tools it needs to build and iterate additional features quickly, and expand seamlessly into new territories and markets if it wishes. We look forward to being a part of their success story in the coming months and years," said Ian Johnson, SVP/Managing Director Marqeta (Europe).

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