UOB Indonesia, Visa, and Volopay launch corporate credit card solution to help businesses with efficient expense management

Jakarta, 21 March 2023 – Businesses will from today be able to link their UOB corporate credit cards with Volopay’s all-in-one financial management platform, enabling greater visibility over their receivables and payables systems and enhancing efficiency in expense management.

In a collaboration launched today between UOB Indonesia, Visa, and Volopay, businesses that link their UOB corporate credit cards with the Volopay platform will benefit from simplified approval workflows, invoice management, accounting integrations, budgeting, and reimbursements. Corporate credit card claims and issuance processes will also become more streamlined, with risks of card misuse and overspending minimised.

With more businesses focused on making employee payments cashless, the collaboration is timely as it is able to improve the efficiency of financial controls while complying with governance and regulations relating to accounting and data in the burgeoning digital payments landscape of Indonesia, Southeast Asia’s largest economy.

Mr Henry Choi, Consumer Banking Director, UOB Indonesia, said, “We are pleased to partner with Volopay and Visa to create distinctive value propositions in the commercial cards space. As a bank, we are a catalyst and enabler for businesses to be proactive in increasing productivity through effective expense management solutions. Through this collaboration, we hope to accelerate innovation, enhance market penetration and drive sustainable growth.”

Mr Rohit Bhageria, founding member and Executive Vice President of Volopay, said, “The Indonesian market is growing rapidly in the digital era. But we recognise that there is still a gap in financial inclusion. Many businesses have little access to tools that enable them to easily make digital payments. By providing financial tools to integrate with core business operations, Volopay hopes to empower Indonesia’s businesses, starting with its physical corporate credit card offering.”

“With like-minded partners like Visa and UOB Indonesia at the helm, we are confident that our card offering will open up financial inclusion in Indonesia’s digital economy for many businesses,” said Mr. Bhageria.

Mr Riko Abdurrahman, President Director, Visa Indonesia said, “We are happy to support and facilitate this collaboration where UOB Indonesia and Volopay are providing a much-needed solution, especially for MSMEs in running their businesses more efficiently in Indonesia, as well as opening up access to Visa’s global network, reaching around 80 million merchants across more than 200 countries. Volopay is one of Visa’s partners in Asia where they have participated in the Visa Fintech FastTrack programme enabling them to issue cards in the region. We believe the UOB-Volopay corporate card will help boost Volopay customers’ growth in Indonesia and equip them with improved digital money movement capabilities.”

Businesses can apply to link their corporate credit cards through Volopay’s website at www.volopay.com/id-id/. They will need to fill out an online onboarding form, and submit business documents such as their single business number (NIB), taxpayer identification number (NPWP), and bank statements. Upon completion of the credit scoring, businesses can activate and make transactions with their corporate credit cards.