myTU launches new Visa debit cards for physical and virtual use

credit: Kikinunchi/Shutterstock
credit: Kikinunchi/Shutterstock

European cloud-first digital bank myTU has announced the launch of new Visa physical and virtual debit cards for its customers across the European Economic Area. 

The cards enable greater use of expenses and provide enhanced fraud protection, simplified tracking and flexible spending limits. 

Through myTU’s API, its business clients will also be able to efficiently manage business card issuance and related processes on behalf of their business partners, acting as agents for them. The API ensures that business partners retain full control over their own accounts while allowing agents to carry out tasks such as card issuance, balance checks, and PIN delivery.

myTU’s new business debit card addresses the managing expenses challenge by allowing businesses to issue cards to individual employees or entire departments, simplifying expense management. Businesses can set custom spending limits, categorise transactions, and attach invoices to payments in real-time. 

The card also offers full control over who can access and use funds, significantly reducing the need for micromanagement and providing businesses with streamlined financial processes.

Raman Korneu, CEO and Co-Founder of myTU, said: “Issuing business cards is part and parcel of myTU’s strategy to be a universal neobank catering to both individual clients and businesses. In our own company, we faced similar pain points. Having just two business cards from other banks, issued under only my name, meant employees had to wait for my approval on every payment. 

“Managing payments for different markets was also a nightmare, with outdated processes for ad spend and growing transaction volumes. We created this new offering to solve those problems, to help businesses streamline expenses and scale efficiently.”

One of the key features of myTU’s business cards is the ability for companies to issue as many cards as they need. This feature allows businesses to issue cards for travel, subscriptions, software, or department-specific expenses. Through its proprietary API, myTU also offers business clients the ability to issue cards to their business partners.