European business finance management platform Qonto has introduced Credit Card and Overdraft, two new products designed to assist small and medium-sized enterprises (SMEs) in managing cash flow.

Based on internal findings, 50% of Qonto’s customer base currently experiences short-term cash flow issues, with 84% expecting such challenges within the next year. Moreover, almost 45% of customers have requested credit card services. In response to these needs and demands, Qonto has developed two complementary tools for better cash flow management.

Enhancing Cash Flow Management for European Businesses

Qonto’s Credit Card allows users to alternate between credit and debit on a single card. This feature gives businesses greater control over their payment methods, ensuring they are billed only once each month, at the beginning of the following month, with up to 30 days of payment flexibility. Currently accessible in France, Germany, Spain, and the Netherlands, eligible customers can enjoy a monthly credit limit of up to EUR 15,000, with interest applying solely if the full amount isn’t collected by the due date.

Additionally, Overdraft provides SMEs with another option. Set for launch in February across France, Germany, Spain, the Netherlands, and Italy, this product enables businesses to make payments even when their account balance is zero. Account holders can go negative up to a pre-approved limit, ensuring that critical transactions like payroll or supplier payments are covered without delay. Interest accrues only on the negative amount used and during its usage period, with no initial fees.

The new offerings build upon Qonto’s previous initiatives aimed at supporting SMEs, such as Account Remuneration, which offers up to 2% annual rewards on account balances. Credit Card and Overdraft represent an extension of this strategy, reflecting Qonto’s ambition to obtain a credit institution license.