Yoba Smart Money and VISA to offer SMEs the smarter way to pay
Updated: Dec 22, 2020
22 December 2020
The Luxembourg-based technology company Yoba Smart Money is planning to launch a new VISA credit card for Small and Medium-sized Enterprises (SMEs).
Yoba will offer SMEs a smarter way to pay their business costs through the convenience and speed of a business credit card while leveraging the latest technology to provide flexible, on-demand liquidity, together with a smart financial management app designed especially for SMEs.
The VISA network is already trusted and accepted worldwide and Yoba plans to leverage its speed, reliability and familiarity to provide an easier, quicker and smarter alternative to bank transfers, giving SMEs more time to focus on their business.
Yoba’s solution, which is subject to regulatory approval, is planned to launch in 2021, initially in Luxembourg and soon followed by other European markets.
“VISA and Yoba can together provide a very competitive payment and on-demand liquidity solution for SMEs. Entrepreneurs and companies will be able to benefit from the same convenience, security and near-instantaneous speed that has been so valuable to consumers during 2020. We will offer a smarter alternative to bank transfers allowing SMEs to benefit from the rich reporting capability of the VISA network as well as on-demand liquidity when they need it, letting them utilise their full financial potential.”, says Atte Suominen, CEO of Yoba.
Helene Podsadni Nilsson, Head of Fintech Nordics & Baltics VISA adds: “We are looking forward to working with an innovative organisation like Yoba, which is dedicated to providing European SMEs with the tools that allow them to better manage their finances and their business. SMEs are an incredibly important sector and we are delighted that VISA will be a core component of Yoba’s offering.”
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device, for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit: About Visa, visa.com/blog and @VisaNews.
About Yoba Smart Money
Yoba Smart Money will offer SMEs a smarter way to pay their business costs in 2021 through the convenience and speed of a credit card while leveraging the latest technology to provide flexible, on-demand liquidity, together with leading cost management tools. The Yoba Smart Money solution works alongside SMEs’ existing full-service banking relationship. For more information please visit: www.yoba.com