Volopay partners with Visa in Fintech Fast Track Program in Australia
Volopay, a corporate cards and payable management fintech firm backed by Y-Combinator, today announced it has signed a partnership with Visa to be part of Visa’s Fintech Fast Track Program which will significantly expand Volopay’s offering of financial management solutions in the Australian market.
Visa’s Fintech Fast Track Program enables Volopay to issue Visa cards to its customers in Australia, making it the only fintech company in the country with the ability to do this and this offering a one-of-a-kind for Australian businesses.
“The Visa Fintech Fast Track Program gives us an edge that we haven’t had before,” shares Rajith Shaji, CEO and Co-founder of Volopay. “The ability to issue our own cards sets us apart from other fintech providers who are merely distributing cards. This way, we have full control over the product we provide to our clients. We are also able to create a well-rounded financial stack with enhanced offerings to our Australian clients.”
“Australia represents a huge market opportunity for Volopay, with over three million registered businesses across the country. As businesses look to improve their financial processes to gain better efficiencies and productivity, Volopay is well positioned to assist businesses on this front,” added Rajith.
In Australia, Volopay counts homegrown companies such as employee management platform Deputy, edtech firm Cluey Learning and mobile video solution company m-View, as customers. Volopay’s products offer businesses the unique benefits of a single dashboard bringing together approvals, vendor payments, corporate cards, and automated expense management. Volopay also provides a line of business credit to companies that need smarter spending resources in order to scale. Volopay’s platform is suitable for a five-person business, as it is for a 500-person company.
The partnership with Visa allows Volopay to pivot from being a card distributor to an issuer and enables the company to expand its product offerings to customers. Upgraded features of the Volopay platform include a custom integration to support Xero and MYOB users and more cost-effective usage models, all aimed at helping Australian businesses operate digitally, better manage their financial processes and accelerate their growth.