– The entity, regulated by the Bank of Spain (BdE), adds 7 payment method programs aimed at social benefits and managing corporate expenses.
– After the end of the confinement, the consumption of payment methods, through physical cards and virtual cards of corporate programs issued by Pecunpay reached 8 million Euro per month.
– The company will end 2021 with more than one and a half million cards issued, of which 300,000 belong to corporate programs.
– Pecunpay issues cards under the VISA and Mastercard brands.
The Spanish fintech Pecunpay, the trade name for the electronic money institution Pecunia Cards EDE, specialised in groundbreaking electronic money processing and payment solutions, consolidates its position as a leader in the issuance of payment method programs based on social benefits and corporate expense management.
Seven clients have put their trust in Pecunpay to issue their corporate programs through both physical and virtual debit cards. The latest program that has been launched is Coverflex, for the Portuguese market, which joins the rest of the programs, such as Cobee, Tickelia and Fuell.
Jaime Rentero, the Chief Commercial Officer of Pecunpay, explains the main reasons why clients of corporate programs decide to issue their corporate programs with Pecunpay. ‘We bring years of experience with this type of program, and we consider that our value offer is focused on the flexibility of our Banking Core, which we have been adapting to offer different rules, restrictions, parameterisations, etc.”
Some of the rules that Pecunpay’s platform allows to adjust in real time maximum daily or weekly amounts, limit payments by type of businesses, block payment methods on weekends or outside business hours, block the use of the card outside of identified geographical areas, etc.
In 2020, Pecunpay reached one million cards issued. In 2021, it will issue one and a half million, which places the company as the leading Spanish electronic money institution. 300,000 of these cards belong to corporate programs.
After the situation we have been through due to the COVID-19 confinement, where all these programs suffered a regression in consumption, the situation is returning to the path experienced before the pandemic, and 8 million Euro of monthly consumption have been reached.
The fintech has been very active during last year, where they have communicated their direct processing connection agreement with VISA, the launch of Xpays (Mobile Payment) for their payment method programs and the launch of the first virtual card issuance platform for marketing, loyalty and promotion agencies, inter alia.