22 October - MeaWallet a leading digital payments enabler specialising in card tokenization announces its partnership with Toqio, a leading technology platform for B2B embedded finance for businesses, to enhance its digital card capabilities for corporate customers in the UK and Spain.
The partnership enables Toqio to expand its tokenization services and integrate push provisioning technology into its card offering, meaning its corporate customers in the UK and Spain can now adopt and distribute Apple Pay and Google Pay compatible digital cards to their end users.
By offering digital cards that are Apple Pay and Google Pay compatible, card usage for both Toqio’s corporate clients and their end users will now be simpler, better integrated, and more robust. According to a survey by Mobile Payments Today, businesses that implement mobile wallets like Google Pay and Apple Pay report a 20% higher conversion rate than those without these options.
In the UK, 38% of online transactions, worth approximately £259bn, were made with a mobile wallet last year, with that share set to increase to 50% by 2027. In Spain, the digital wallet industry is predicted to grow at CAGR of 31.32%, to over £42bn by 2028.
The partnership between Toqio and MeaWallet follows the recent announcement of Toqio’s partnership with Visa, which will enable Toqio's corporate clients to access and issue Visa commercial cards, directly from its platform, to improve their operational efficiency and generate new growth possibilities.
Eduardo Martinez, CEO at Toqio, commmented:
“Toqio works to conveniently equip corporates with the financial tools they need to grow, and with digital cards having a dominant force in the payments space, we’re excited to partner with MeaWallet to unlock their potential. This partnership presents significant opportunities for growth, innovation, and improving the everyday operations of our customers and their end users."
Ignacio Gironella, Global Sales Director at MeaWallet added:
"Our partnership with Toqio aligns perfectly with our mission to make digital payments simple, secure, and accessible for all. By leveraging our next-generation technology, Toqio’s customers can now offer their end users a seamless payment experience—instantly linking their cards to Apple Pay and Google Pay. We’re excited to work with a forward-thinking company like Toqio, as together, we can push the boundaries of what’s possible in digital payments."