iBanFirst Launches a Fee-Free Virtual Payment Card for SMEs and SMIs

Published July 25, 2017

The financial services platform for SMEs and SMIs is now offering a new service to its customers in the form of fee-free virtual payment cards, to ensure the security of their online transactions.

Paris, 25th July 2017 – iBanFirst, a specialist platform in Banking-as-a-Service (Baas) multi-currency transactions specifically for SMEs and SMIs, is broadening its financial services offering by launching a fee-free virtual payment card for companies’ one-off Internet purchases.

This card can hold up to €20,000 and is valid for between 2 and 30 days. The administrator of an iBanFirst account can create an unlimited number of virtual payment cards by simply providing the cardholder name, the expiry date of the card and the amount to be credited, within an upper limit of €20,000. The funds are then ringfenced in the company Euro account until such time as the card expires or is cancelled, upon which the unused amount is then released back into the account.

With iBanFirst the process of purchasing essentials such as office supplies and furniture is significantly quicker

This new virtual method of payment makes it simpler for companies when they need to make one-off purchases online, as it can be activated within seconds from every one of their iBanFirst accounts. The payment process can now be delegated to an employee in complete confidence, as the account holder sets the amount of money available in relation to the anticipated spend of the transaction. The Mastercard network is always contacted in real time to verify a payment before the transaction is allowed to go ahead. It is therefore impossible for the allocated amount to be exceeded.

One not only finds that the purchasing process is simple, but more importantly, it is also immensely secure. “It is apparent to us that many VSB/SME managers are sharing their bank card details with their employees - via text, the Slack messaging service or email, to enable them to make purchases without incurring further costs. This poses a real problem with regards to the security of bank details”, indicates Geoffroy de La Rochebrochard, CPO of iBanFirst. “With our service, there is no risk of your bank account being emptied. You delegate without risk and can keep a detailed eye on your colleagues’ spending each month as the cardholder name appears on your iBanFirst bank statement.”

iBanFirst virtual card: a new service that facilitates the efficient and secure management of company online payments

“The virtual payment card complements our range of financial services for SMEs and SMIs, explains Pierre-Antoine Dusoulier, CEO and Founder of iBanFirst.This offer is ingrained in our ambition to simplify the lives of business leaders, by offering a highly accessible and secure range of financial services. It enables them to easily carry out their daily financial transactions at the best price and to therefore be able to fully devote their energies to their business activities.”



iBanFirst is a specialist platform in Banking-as-a-Service (BaaS) multi-currency transactions, which, unlike traditional banks, is developing a range of financial services specifically for the daily transactions of SMEs. iBanFirst simplifies the lives of business leaders by allowing them to easily carry out their financial transactions at the best price, allowing them to devote more energy to their business activities. BaaS returns power to the client, who is able to select the services that he or she needs and pay a much more advantageous price for them than would be charged through traditional channels. iBanFirst was created by Pierre-Antoine Dusoulier, the Founder of Saxo Banque France, an entrepreneurial figure and a strong presence on the French Fintech stage.

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Sébastien Dosne - 01 82 28 37 28


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