Biz Builder Mike

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Payments Platform Nium Teams Up with Neobank Aspire to Enable Google Pay

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Singapore-based payments platform Nium has partnered with Aspire, a neobank for businesses, in order to enable payments with Google Pay.

Aspire claims that it’s the first business neobank to launch in Southeast Asia. The company announced its plans to go “plastic-less” by issuing corporate Visa cards with assistance from Fintech service provider, Nium. The partnership will make all Aspire cards available through Google Pay.

Andrea Baronchelli, CEO and Co-Founder at Aspire, stated:

“Making Aspire’s corporate cards available on Google Pay allows Aspire corporate card users to experience a fully digital experience. From account opening to managing the finances, everything can be done within the Aspire app.”

He added:

“Business owners can set custom limits on expenses without having to worry about manual expense reconciliation.”

Nium’s end-to-end issuing, processing and onboarding will allow Aspire’s customers to have more options for taking care of their payments via Google Pay on Visa-accepted terminals. Business owners are now able to “go green” by making digital payments on point-of-sale (POS) devices and through the online portal without needing a physical card.

Aspire’s services are mainly intended for entrepreneurs who launch businesses. They aim to provide the “fastest and simplest business banking experience to SMEs.” The company’s virtual corporate card complements the Aspire Business Account, which is linked up with various back-end accounting systems.

Gitesh Athvale, Global Head of Product (Cards) at Nium, stated:

“We’re pleased to be working with Aspire to ease the Spend Management process for businesses in Southeast Asia. Through the issuance of virtual cards and the integration with Google Pay via our payments network, companies can now track their expenses more easily and directly using their Android devices.”

Last month, Nium’s management revealed that customers will be able to make digital payments through Google Pay by using its company Visa cards.

Athavale had noted in August 2020:

“The integration of Google Pay within our card issuance network allows us to increase the acceptance points for our end users, allowing them to make payments and also track their expenses more easily and directly using their Android devices.”

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Santander Bank Announces Partnership With Roostify For Digital Home Lending Platform

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Santander Bank announced on Thursday it has joined forces with Roostify for its digital home lending platform, EZApply. According to Santander, the platform provides a “convenient” way for customers to apply for the bank’s home lending services. Santander further explained that the platform offers a streamlined loan application and fulfillment process for home buyers and owners during a purchase or refinance.

“Customers are able to submit a loan request online, share documents digitally and securely and receive real-time status updates, including outstanding action items, from application through to closing.”

While sharing more details about the service,  Pierre Habis, Head of Consumer and Business Banking at Santander Bank, stated:

“We want to simplify banking, and digitizing our mortgage and home equity process streamlines the whole lending flow and helps us customize how we engage with our customers based on their specific needs.”

Santander also revealed that since launching the EZApply platform in August, it has seen a significant decrease in the amount of time it takes to process mortgage and home equity loan applications, including the following:

  • Nearly half the time to approve loan documents
  • Nearly 40 percent faster to fund mortgage loans, from the time the application is submitted until it is funded
  • Home Equity Lines of Credit are approved in approximately 40 percent less time than traditional methods

Rajesh Bhat, CEO and Co-Founder of Roostify, added:

“Santander has been a great partner in driving innovation to improve their customer experience. Information exchange is a vital part of the home buying experience, and it can be a game-changer when done right.”

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MetaBank Announces New Collaborations With Finix & TabaPay

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MetaBank, N.A. announced on Tuesday the expansion of its payments platform to include processors Finix and TabaPay. According to Metabank, Finix builds payments infrastructure for vertically-focused software providers and fintech companies. With Finix, businesses may own and monetize entire payments experience without having to build an in-house system from scratch or rely on third-party payment service providers.

Meanwhile, TabaPay is a card payments processor for fintech companies who want a simple and comprehensive solution to disburse, collect payments, and fund accounts in real-time. While sharing more details about the partnerships, Sheree Thornsberry, Meta EVP and Head of Payments, stated:

“Consumers are demanding seamless, faster payments across the board, and our partners wanted choices for processing these payments. We responded to that demand with more options than ever before, so that they can help businesses and consumers receive funds efficiently and effectively, all via the processor of their choice.”

Richie Serna, Finix CEO and Co-Founder, went on to add:

“We’re excited to partner with Meta, a leading provider of payments services, to help build out their faster payments platform. Faster payments enable merchants to respond with speed and flexibility to new market demands. With Meta, we will bring speed and innovation to even more businesses and consumers.”

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