Wirecard, Banca Afirme Help Corporates Shift From Checks To Cards

Mexico bank Banca Afirme is rolling out a new commercial card solution with the help of Germany-based Wirecard.

An announcement Friday (Feb. 16) said the bank will release its Afirme E-fectiva commercial card for corporates and business entities. The companies said the solution will introduce new commercial payment capabilities that have not yet been seen in the Mexican market, including facilitated money transfers for travel expenses and employee payouts.

The business debit card can be used by cardholders to make payments or withdraw company cash from ATMs; Banca Afirme said this will help businesses reduce their reliance on paper checks. Wirecard and Afirme are also rolling out a digital platform linked to the card for expense management and oversight.

The solution cannot be used for payroll, the companies noted.

“To bring digital banking to the next level, it is a big topic for Mexican banks,’ said Wirecard CPO, and Wirecard Mexico Managing Director, Susanne Steidl in a statement. “As a reason, even more people in Mexico will use cashless banking and payment methods in the future. The new card program is going to benefit all users with an easy and secure handling. We are delighted to shape this trend together with Afirme and to launch the first corporate debit card. We are looking forward to expanding the partnership on other areas in the future.”

“The ‘Afirme E-fectiva’ debit card enables companies and governments to better manage resources for beneficiaries or cardholders, with more control over the money deposited since corporate clients are able to recover these resources at any moment if they have not been used,” added José María Sobrevía, Afirme Grupo Financiero executive commercial director for Products and Services. “In addition, corporate clients can obtain information about its use and management via the exclusive platform for this product, meaning they can know how the cards are being used.”