Visa and Access bank will roll out a SME specialised business debit card, media reports said. The new debit card will safeguard SMEs in terms of transparency and efficiency and prevent misuse of cash handling.
The business card which is developed to enhance SMEs and offer a higher credit limit in accordance with small businesses. The debit card will offer discounts for SMEs for services such as logistics and digital payments acceptance. Furthermore, the SMEs will be given discounts on these services: Dropbox, Udemy, Twitter Ads, Shopify, Microsoft Office 365, DocuSign and Regus office space.
The first set of SMEs who register for the business card will get free Google Ad Credits provide by Access Bank.
Group Head, Product Insights and Capabilities, Access bank, Robert Giles, told the media, “We recognise the huge role SME’s play in driving economic growth and, as the largest source of employment, contributing to social progress and stronger communities. We are pleased to have partnered with Visa to create this leading solution to help SMEs plan, budget and track spending as well as access services to aid business growth in an increasingly digital marketplace. We encourage SMEs to walk into any of our branches and walk out with the new Business Card in a couple of minutes to start enjoying the benefits instantly.”
The new debit card is expected to transform small business in terms of digitalisation and support SME’s to have better control over their expenditures by shifting from cash to digital payments.