Luxembourg-based technology company Yoba Smart Money announced today that it has chosen Nets, a leading European payment services provider, as its partner to offer a new payment and liquidity solution for small and medium-sized enterprises (SMEs).
Yoba strives to offer SMEs a smarter way to pay their business costs 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.
Under a new agreement, Nets will provide a full-scale solution incorporating a corporate credit and debit card solution that leverages its digitised services, enterprise card management tools and industry-leading security.
Yoba’s offering, which is subject to regulatory approval, is planned to launch in 2021 in Luxembourg, followed by other European markets and thus reflects Nets’ continued expansion to support banks and issuers across Europe.
Atte Suominen, CEO of Yoba, commented: “We are very happy to enter into a partnership with a strong European payments player that has the experience and know-how to help us execute on our growth plan in our key target markets. Nets has the required benefits of scale, modularity and innovative technology and mindset to help us reach our strategic goal of being the smarter way to pay for SMEs. Our new solution will provide customers with on-demand liquidity and payment products they need to utilize their full financial potential".
Torsten Hagen Jørgensen, CEO of Issuer and eSecurity Services at Nets, added: “We are looking forward to ensuring improved payment experiences for all Yoba customers in Europe by utilising Nets’ modern, digital and open technologies, enabling Yoba to focus on their core business objectives and grow in their target markets”.