Software-a-as-Service platform Toqio has partnered with Visa in a bid to provide more digital payment solutions to businesses that don’t have the parameters to obtain them.
The alliance seeks to enable large companies to use the Toqio platform, which connects the company’s distributors and merchant providers with financial institutions, to better serve its needs and the end customer.
Eduardo Martínez García, CEO and Co-Founder of Toqio, said: “Until now, much of the focus has been on the supply side, but distribution channels, where SMEs are often the main sales channel, remain relatively on the sidelines. These players are the weak link in the distribution channel and their liquidity and cash flow issues can have a direct impact on companies’ revenue potential and cash collection.
“With Toqio, these companies can implement solutions that facilitate the flow of funds through the distribution channel, from the end customer to the manufacturer, and incorporate financing where and when it is needed most.”
Toqio and Visa will focus on providing solutions particularly to small businesses struggling with low liquidity and barriers to some financial services, causing payment issues for companies, providing more access and availability to funds through the benefits of integrated finance.
The objective is for eligible corporations to improve their value proposition to their distribution networks by providing them with access to greater liquidity.
The partnership will also enable Toqio’s corporate clients to access and issue Visa commercial cards, directly from its platform, to improve their operational efficiency and generate new growth possibilities.
Eduardo Prieto, Country Manager of Visa in Spain, added: “This partnership demonstrates Visa’s dedication to fostering innovation and new payment flows leveraging on the potential of embedded finance.
“Moreover, we have supported Toqio’s growth journey by having them participate in the Visa Innovation Program Europe, where we have witnessed the potential of the project first-hand.”
