New solution helps business clients simplify payments and gain better control over spending.
FORT LAUDERDALE, Florida – Qolo, a leading fintech provider of modern treasury solutions, announced an expanded partnership with KeyBank with the launch of Key Virtual Card (KeyVC), a new virtual commercial card program that helps businesses more easily manage and track payments. The new offering allows KeyBank’s commercial clients to create and manage virtual cards directly within Key’s Virtual Account Management platform (KeyVAM). By bringing virtual cards into the same system clients already use for treasury and cash management, the program helps businesses pay suppliers more efficiently while maintaining stronger oversight of spending and reconciliation.
Qolo and KeyBank have had a multi-year partnership, with KeyVAM launching in 2024. Through the expansion of this partnership, Qolo provides the behind‑the‑scenes technology that enables KeyBank to issue and process virtual commercial cards, including support for fraud monitoring, disputes, and chargebacks.
“Commercial clients are increasingly looking for simpler and more controlled ways to manage payments.” said John Withrow, Head of Commercial Cards at KeyBank. “By expanding our partnership with Qolo, we’re making virtual cards easier to use within our existing treasury platforms, helping clients streamline accounts payable, improve visibility, and maintain better control over how and when money is spent.”
“Managing commercial payments can be complex, often requiring businesses to juggle multiple systems and reporting processes. KeyVC is designed to reduce that complexity by allowing clients to use virtual cards alongside other treasury tools, with consistent reporting and simplified reconciliation across payment types. Businesses want payment tools that fit naturally into how they already operate,” said Rouzbeh Rotabi, Chief Operating Officer at Qolo. “Working with KeyBank, we’ve built a virtual card solution that feels like a seamless part of the treasury environment – giving finance teams more flexibility, stronger controls, and clearer insight into their spending.”
The virtual commercial card offering will be available to KeyBank’s clients across the bank’s Middle Market and Institutional Banking segments.
View on Business Wire
