Payhawk Strengthens Its Payments Infrastructure Through Membership in Visa Europe

Payhawk, a leading spend management FinTech company, has announced a significant milestone by becoming a principal member of Visa Europe, according to PYMNTS. This strategic move empowers Payhawk to issue Visa cards directly, eliminating the reliance on third-party intermediaries. This enhancement grants Payhawk greater autonomy and control over its payment infrastructure.

The direct issuance of Visa cards not only promises to accelerate innovation within Payhawk but also assures increased service reliability and resilience, as highlighted in a recent company post on November 1.

Hristo Borisov, the CEO of Payhawk, expressed, «With our new Visa membership and our recently obtained Electronic Money Institution (EMI) license, one of our foremost objectives is the expansion of our payment offerings.»

Juha Sillanpää, Visa’s group country manager for Finland and Baltics, stated, «Our partnership will help unlock opportunities for Payhawk clients, underpinned by a robust regulatory framework.»

While Payhawk currently provides its customers with the choice between debit and credit cards in select markets, the company aspires to extend this flexibility to all its clients. To attain principal membership status with Visa, Payhawk underwent a rigorous application process and successfully passed an audit conducted by Visa to ensure strict compliance with operational and regulatory requirements.

Businesses that choose to partner with Payhawk can anticipate significant savings in terms of time, money, and effort, particularly in the realms of expense management and spend control.

In addition to its Visa membership achievement, Payhawk was recently granted an EMI license by the Bank of Lithuania, which provides access to the entire European Economic Area (EEA).

As previously reported by PYMNTS on October 24, Payhawk established a strategic partnership with the global payment infrastructure firm Wise Platform. This partnership is aimed at offering faster and more cost-effective global payment solutions to its international customer base.

This collaboration further solidifies Payhawk’s position as a comprehensive solution for spend management, offering a unified platform to manage all card transactions, reimbursements, and bill payments, as detailed in an October 24 blog post. The introduction of the new International Payments feature, developed in collaboration with Wise Platform, allows Payhawk customers to make transfers in over 50 currencies across more than 160 countries directly from the platform.

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