Singapore, [29th SEPTEMBER 2020] – Singapore based fintech startup Volopay and global fintech infrastructure platform Nium, announced their partnership today that will improve corporate card issuance experience for companies.
Many companies struggle with managing their daily expenses, thanks to the 20th-century expense management processes that relies heavily on paper receipts and spreadsheets. Lack of visibility, difficulty in managing out of pocket expenses by employees, and the heavy work-load on finance teams are inevitable with traditional practices. Through this collaboration, Volopay will be integrating Nium’s enterprise-grade API solutions to provide a complete one-stop solution to manage all business spendings. Individual corporate cards will be issued to the employees, and companies will be able to configure those cards with a real-time tracking software and a mobile application.
Companies save a lot of time and capital when they adopt Volopay as their expense management solution. Because of real-time data insights into the expenses, managers get accurate spending patterns of the company. Plus cashbacks on FX transactions help them to save a lot more than their traditional bank cards.
The partnership with Nium will ensure that the clients are enabled to pay anywhere around the world with Volopay’s corporate card. The spending pattern would be seamless with the integration of Volopay’s card with Nium.
Volopay was part of BOLT, a fintech collaborative program set up by Nium to promote innovation and collaboration amongst fintechs in the Southeast Asia region.
Volopay is currently serving Singapore based businesses and also planning to expand its operations to the entire ASEAN region, and Australia.
Volopay is a modern spend management platform backed by Y Combinator that saves companies time and money by giving visibility and control to every aspect of business spending. With Volopay, finance and accounting teams can control expense requests and approvals, make bill payments (domestic/cross-border), manage company cards, and reconcile all accounting on one platform.
Rajith Shaji, Founder & CEO of Volopay said:
“Nium’s BOLT program helped us to solve the expense-related struggles that generally most companies face. They provided us with a seamless financial rails payment platform that helped us to provide our customers with a precise solution to address all their spending loopholes”.
Krishna Kumar Singh, Vice President, Program Management & and Head of Nium’s BOLT initiative said:
“Volopay is a true testament of what Nium’s BOLT program represents – that innovation can truly happen through collaboration within the industry I am really proud to see how Volopay has grown to become who they are today, and look forward to seeing more from the company in the near future.”