Neo-banking platform Open and Visa partner to launch SME banking options

Wednesday 31 July 2019 14:36 CET | News

India-based neo-banking platform Open has announced a strategic partnership with Visa, to enhance its business banking proposition for SMEs.

In a company statement, the fintech startup said the partnership will enable Open to launch a suite of products that include a business credit card for SMEs, payment gateway acquiring, and real-time payments.

Opens statement said its card comes with a suite of expense management tools that will help businesses manage their expenses and payouts and can be issued to employees, set limits and comes integrated with Whatsapp for seamless expense filing. The credit card also comes with a reward program that lets startups earn points for their spend, which can be redeemed for various software subscriptions, cloud hosting and discounts on co-working spaces.

Apart from the business card, the partnership with Visa will enable Open to enhance the Open API banking suite Layer through new features such as real time payments settlement and refunds. Layer is a programmable bank account for developers to integrate banking into their business and product flows, Open said in a statement.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: open, Visa, neo-banking platform, partnership, SME banking, expense management, B2B payments, SME, business banking proposition, India, Bangalore
Countries: World