Today In B2B Payments News: Razorpay Taps Visa For SMB Cards, Nets And Yoba Collab On SMB Payments
Today in B2B payments, Visa teams up with Razorpay to debut a small business commercial card solution, while Nets is working with Yoba Smart Money to develop small business payment tools. Plus, Australia mulls mandatory eInvoicing, and Emirates NBD launches an omnichannel corporate banking offering.
Razorpay Co-founder and CEO Harshil Mathur said the company is working with Visa on a new corporate card, according to YourStory. The goal of the partnership is to provide “relief and stability” for small to medium-sized business (SMB) owners, the companies said in the post. Harshil said the new card, called the RazorpayX Corporate Card, is intended to help with credit, which he called “one of the biggest requirements for businesses today.”
Tech company Yoba Smart Money is working with Nets, a European payments services provider, to debut a new payment service for SMBs, according to a press release. The release stated the partnership will let companies pay costs via a credit card, while accessing on-demand liquidity alongside cost management tools. Nets will provide the full-scale solution with a corporate credit and debit solution using digital services, enterprise card management and security tools, the release stated.
Digital banking firm Emirates National Bank Dubai (Emirates NBD) has rolled out its new businessONLINE platform, an omnichannel platform for small businesses. According to a report from from NS Banking, businessONLINE aims to “provide an all-encompassing set of trade finance, cash and liquidity management solutions.” The service will help to streamline operations, boost transparency and facilitate “seamless” cross-border transparency, providing a view of the company’s balances across several currencies and regions.
In Australia, the government could be looking at mandatory eInvoicing for companies, according to a report by Accountants Daily. The phased effort would start with the biggest businesses. There could be some type of sanction for businesses not complying with the mandate, but the government would still allow companies to send non-electronic invoices via paper or PDF.