B2B FinTech HUBUC Teams With Transact Payments To Issue Credit, Debit Cards

Embedded financial services platform HUBUC, a Software-as-a-Service B2B company, announced on Thursday (Aug. 26) that it has joined forces with Transact Payments to offer physical credit and debit cards to business clients across the U.K. and European Economic Area (EEA) markets.

HUBUC, a Spain-based company also known as FinTech Solutions SL., uses its on-demand software to improve various financial services among businesses, including account reconciliation, expense and supply chain management and earnings growth, according to a company announcement. The collaboration with Transact Payments debuts in an era of deep interest among businesses in the embedded financial services realm, particularly those in the SaaS categories such as accounting, employee benefits, payroll and tax management, as well as big corporate clients within various industries, including insurance and supply chain management, the company said.

“Embedded financial services is a driving force behind innovation across many industries, especially B2B SaaS with a non-fintech core,” said Ignacio Javierre, HUBUC’s co-founder and COO. “Debit and credit cards provide plenty of opportunities when it comes to expense management and employee benefits.”

HUBUC’s platform is available from a single API, covering all the compliance requirements and connecting B2B customers with a suite of financial services.

As businesses continue to recover from the economic tolls of the pandemic, more companies are moving away from manual payment systems in favor of digital options. A recent PYMNTS study found that 70 percent of chief financial officers agreed that digitizing their accounts payable and accounts receivable processes would be integral to maintaining customer value and loyalty.

Read more: Turning Receivables Into Integrated Payments Solutions Boosts Supplier Relationships

J.P. Morgan Chase & Co. is also jumping aboard the digital technology train. Earlier this month, PYMNTS reported that the company began piloting a real-time payments service with an unnamed FinTech company. The service, called request for pay, allows J.P. Morgan’s corporate clients to send payment requests to the 57 million retail users on its app or website. The company estimates that it could cut payment time from approximately a week to less than 30 seconds.

Also see: JPMorgan Piloting Real-Time Payment Service