Mynt and Visa Collaborate to Develop Embedded Card Solutions
In a move aimed at enhancing the adoption of its new embedded card solution, FinTech company Mynt has announced a strategic partnership with Visa, according to PYMNTS. This collaboration enables enterprise resource planning fleet and fuel companies, as well as banks, to offer embedded corporate card and spend management solutions to their small- to medium-sized business (SMB) customers in Europe.
«Mynt’s partnership with Visa allows us to provide a comprehensive product suite in spend management and collaborate more effectively with issuers seeking to enhance their offerings without the need to develop all the technology from scratch,» said Baltsar Sahlin, CEO, and Co-founder of Mynt.
The API-based, full-service, and modular nature of Mynt’s solution for embedded cards, expense management, and spend management allows partners to select features and seamlessly integrate them into their systems within months. Alternatively, partners can opt for a fully white-labeled version that offers a branded web and mobile app.
Over the last four years, Mynt’s solution has been integrated into some of the largest ERPs in the Nordics and has gained traction among thousands of SMBs. Leveraging Visa’s payment network, Mynt will provide card-issuing services, further enhancing its offering.
Philip Konopik, regional managing director at Visa in the Nordics and Baltics, emphasized Visa’s commitment to facilitating innovation for its clients. «Our open approach enables Visa clients to benefit not only from our leading technology and security standards but also from best-in-class innovation from Visa Partners like Mynt,» he said.
Visa’s suite of B2B payment solutions now also includes the capability for financial institutions to add virtual corporate cards to the digital wallets of their clients’ employees, enhancing convenience, security, and flexibility for corporate users. This move reflects Visa’s commitment to empowering businesses with on-demand and secure payments, catering to the dynamic needs of today’s business environment.