Payhawk partners with Visa, unlocking new product innovation and reliable expense management for businesses worldwide.
The global spend management platform Payhawk intends to expedite new product innovation and allow improved service dependability and resilience for its customers by joining Visa, a global leader in digital payments, as a primary member.
With the Payhawk platform, businesses can manage their expenses more efficiently and regulate spending at scale by obtaining smart Visa company cards in several currencies.
Payhawk’s card technology offers proactive spending controls, such as daily and single transaction limits, AI-powered receipt capture and data extraction, and automatic payment reconciliation via native integrations to accounting and ERP software. Customers also benefit from Visa’s high global acceptance rate.
The membership gives Payhawk more control over its payment infrastructure and allows it to create Visa cards on its own without depending on outside parties. This will spur innovation and contribute to even higher levels of resilience and dependability for services.
“With our new Visa membership and our recently granted Electronic Money Institution (EMI) licence, one of our top priorities is further expanding our payment options,” said Hristo Borisov, co-founder and CEO of Payhawk, in a statement highlighting the significance of the development.
For instance, in certain areas, we presently give consumers the option between debit and credit cards; nevertheless, we aim to provide this freedom to all of our customers.
Opening doors for Payhawk customers
Payhawk has to go through a difficult application process and pass an audit carried out by Visa to make sure the business complies with all relevant operational and regulatory standards in order to be granted primary membership with the company.
Additionally, the Bank of Lithuania recently granted Payhawk an EMI licence that allows it to access the whole European Union, further demonstrating its compliance with strict capital, regulatory, and security requirements.
Furthermore, Borisov declared, “We are thrilled to be a principal member of Visa today. Visa and I began working together back in 2018, and they have been a huge help to us along the way.” Thanks to our EMI licencing, we have more control over a wider piece of the payment processing stack, which allows us to move more swiftly and streamline the infrastructure to better meet the demands of our clients.
“We are pleased to collaborate with Payhawk, recognising it as an innovative fintech combining product development and a customer-first approach,” says Visa’s group country manager for Finland and the Baltics, Juha Sillanpaa. Our collaboration will support Payhawk clients by creating options that are supported by a strong regulatory framework.
