Non-bank commercial payment companies continue a streak of partnerships

With growing competition in traditional business payments space and expense management solutions, non-bank payment companies are teaming up with expanse management solution to expand their services and help businesses automate. This week, Singapore based non-bank card issuer, Nium, has partnered with Volopay to improve corporate card issuance, the company’s press release noted.

Under this partnership, Volopay will be integrating its expense management solution with Nium’s API solutions which will provide businesses with ‘one-stop solution’ to manage the business spending.

Last week, Volopay partnered with Wallex under which they planned to launch an integrated platform for Singapore based SMEs. Under this system, businesses can combine business expense management with international FX payments. In June this year, Railsbank collaborated with Statrys to provide business accounts and forex solutions for Asian SMEs. While in Europe, GoCardless partnered with YayPay for B2B payments in which YayPay would integrate GoCardless network with its AR offerings.

Under this solution, individual corporate cards will be issued to the employees and companies using these would be able to configure those and track down the spending in real-time through the tracking software and mobile applications.

According to the press release, partnership with Nium will enable Volopay’s corporate cards to pay anywhere in the world. Also, Volopay’s corporate cards will be integrated with Nium.

Volopay serves Singapore based businesses and the company has plans to expand operations to the entire ASEAN region and Australia. It was also the part of BOLT which was a fintech collaboration setup by Nium.

In an email to CPI, Volopay said that Nium is their card provider and the company uses Visa’s network for their cards. Nium has an e-money license which is issued by Monetary Authority of Singapore (MAS).