Nets to power Yoba Smart Money’s SME payment solution

By Megha Bhattacharya

European payment services provider Nets today announced that Luxembourg-based Yoba Smart Money has selected its payment and liquidity solution for SMEs. Nets will be providing a full-scale solution that incorporates a corporate credit and debit card solution. Yoba aims to offer SMEs a smarter way to pay their business costs through the convenience and speed of a credit card along with the provision of on-demand liquidity and cost management tools.

“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,” said Atte Suominen, CEO, Yoba.

Yoba will be launching its new offering in 2021, subject to regulatory approvals, followed by other European markets.

Recently, Estonia-based Modularbank has announced a strategic partnership with Nets Estonia in a bid to extend the offering of its core banking platform. The company, with the partnership, will be able to add card issuing and processing solution to its product suite and enhance the value of its card product portfolio.

Torsten Hagen Jørgensen, CEO of Issuer and eSecurity Services, 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.” ​