Pliant, Transact and Varengold partner to launch Visa business credit card
German fintech startup Pliant has launched a Visa Infinite Business Credit card in Germany in collaboration with Malta-based card issuer Transact Payments. The card has been designed to “ideally [adapt] to the business processes and needs of small and medium-sized enterprises (SMEs) as well as corporates with good credit rating and high credit card turnover,” according to a press release.
As an unregulated non-bank fintech, Pliant is dependent on the European Union passporting rights enjoyed by Transact Payments, which is regulated by the Maltese Financial Services Authority. In addition, Hamburg-based Varengold Bank is providing a credit line to borrowers.
Other non-bank payments companies such as Neat, CardUp and Boost Payments Solutions also partnered with Visa last year to launch products in the B2B commercial payments space.
The card works with multi-channel such as with mobile devices, online and at POS in around 200 countries and offers benefits such as digital card management tools, high spending limits and an unlimited cashback program.
Companies using this card would have access to “favourable exchange rates and partner discounts with the Infinite Business card”. It would also come with a mobile app for card management, emergency services, airport lounge access and an insurance package.
“Today’s market is lacking a modern digital credit card that meets the specific needs of businesses and adjusts to individually existing processes. Our vision is to make credit cards the most convenient and commercially attractive payment tool for companies worldwide,” says Malte Rau, CEO and co-founder of Pliant.