Yoba Smart Money partners with Nets for SME payment solution

With small and medium enterprises seen as receptive to rapid digital transformation, commercial payment companies have eyed this segment to launch special products and services.

This week, Luxembourg-based technology company, Yoba Smart Money has partnered with a Copenhagen-based financial technology company, Nets, to launch a new payments platform for small- to medium businesses (SMBs).

Earlier this year, Veem launched tools to simplify payments for SMEs while Park Place Payments and Now Corp teamed up for SME payment financing.

Under this collaboration, Yoba will offer SMBs the option to pay business costs with a credit card while providing with on-demand liquidity and cost management tools while Nets will provide the solution incorporating corporate credit and debit card solution utilizing its digital services and enterprise card management tools.

The service is set to launch in 2021 in Luxembourg with subject to regulatory approval processes and will follow in other European countries later.