The new debit card will allow merchants to consolidate funds from multiple IBANS at numerous banks across Europe. Credit: Monneo.

Monneo, a virtual IBAN and eCommerce bank account provider, has teamed up with Railsbank to launch a new Visa-branded corporate debit card for eCommerce merchants.

To be issued by Railsbank, the Monneo Corporate Visa debit card will allow merchants to consolidate funds from multiple IBANS at numerous banks across Europe.

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The company achieves this feat by combining several IBAN accounts under one application and agreement.

Monneo said it will enable Merchants to link one card to the combined balance of all its IBANS held at different banks across its banking network in Europe.

Monneo managing director Lilia Metodieva said: “Partnering with a respected partner like Railsbank ensures the card is a stable and reliable option for eCommerce businesses, enabling them to carry out day-to-day operations without challenges.

“Any issues that do arise are resolved by Monneo, which incorporates its expert industry knowledge to resolve these challenges.”

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Monneo enables local and international payments via B2B banking transfers, whilst maintaining real-time cash flow visibility.

Merchants can utilise the new card for their employees, contractors, or affiliates with access to instant reports through a single user interface.

Railsbank COO UK and EU Louisa Murray added: “The Monneo Corporate Visa debit card setup is the only one of its kind that Railsbank currently supports, which makes it an important partnership for us.

“The unique features really do cater to the varying needs of eCommerce merchants and the banks that service them across Europe.”