Pliant Expands Reach with Multi-Currency Credit Lines Across Europe

Pliant, a leading provider of digital payment solutions, has announced a strategic partnership with Vereinigte Volksbank Raiffeisenbank eG (VVRB), a prominent credit union in Germany. This collaboration will enable Pliant to offer its customers access to credit lines denominated in multiple currencies, further expanding the company's reach across the European Economic Area (EEA).

Unlocking the Power of Cross-Border Transactions

Diversifying Currency Options for Businesses

Pliant's new multi-currency capabilities include a wide range of currencies, such as the Swiss franc (CHF), Czech koruna (CZK), Danish krone (DKK), British pound (GBP), Hungarian forint (HUF), Norwegian krone (NOK), Polish zloty (PLN), Romanian leu (RON), Swedish krona (SEK), and the US dollar (USD). Additionally, the company offers the Bulgarian lev (BGN) and Icelandic króna (ISK) upon request. This expansion empowers Pliant's customers to settle transactions and manage their billing in the same currency, a crucial feature for businesses dealing with significant volumes of non-euro currencies.

Strengthening Partnerships for Growth

Commenting on the partnership, Pliant's executives highlighted the significance of this collaboration as the company ventures into new markets. They emphasized that expanding refinancing options with external partners, such as VVRB, allows Pliant to offer multi-currency credit lines, positioning it as the first digital card provider with this innovative feature.On the other hand, VVRB representatives noted that the partnership aligns well with the bank's established lending business. They explained that their corporate clients have long had access to foreign currency loans, and this collaboration enables the bank to extend similar benefits to its new cooperation partners. Furthermore, they pointed out that Pliant has already achieved success with its Euro-based credit card services, and the bank is now looking to foster further growth through the introduction of multi-currency funding solutions.

Regulatory Approval Paves the Way for Expansion

In 2023, Pliant successfully extended its Electronic Money Institution (EMI) licence to cover all EEA countries. This regulatory approval empowers the company to offer a diverse range of financial products and credit lines across the region, further solidifying its position as a leading player in the digital payments landscape.

Streamlining Corporate Payments and Integrating with Business Finance Systems

Founded in 2020, Pliant provides companies with comprehensive solutions for managing physical and virtual credit cards, automating payment processes, and tracking spending through a user-friendly app and API. The company's mission is to streamline corporate payments and seamlessly integrate them into businesses' finance systems, enabling greater efficiency and financial visibility.

Leveraging the Expertise of a Trusted Banking Partner

Vereinigte Volksbank Raiffeisenbank eG (VVRB) is a credit union with over 65,000 members, offering a wide range of banking services. Based in Southern Hesse and Churfranken, the bank specializes in financing and securities, with a long history of innovation in these areas. By partnering with VVRB, Pliant can leverage the bank's expertise and established presence in the market, further strengthening its position as a leading provider of digital payment solutions.