Finance Now, Visa & Pismo to launch NZ fleet cards

Finance Now plans to roll out what it describes as New Zealand's first open loop fleet payment solution, in partnership with Visa and Brazilian technology firm Pismo, with launch targeted for the first half of 2026.

The product will give businesses a single payment instrument for fuel, maintenance, tolls and other vehicle-related costs. Cards will run on Visa's network and will be accepted wherever Visa is recognised, rather than being limited to specific fuel brands or networks.

Finance Now said the service will sit on Pismo's cloud-based banking and cards platform. The system connects through application programming interfaces. It will support instant digital issuance of virtual cards, which businesses can load into mobile wallets used by drivers.

The launch marks an expansion of an existing relationship between Finance Now and Visa. Pismo will act as the underlying processing and account management platform.

Open loop model

Traditional fleet cards in New Zealand often operate as closed loop products. These typically restrict use to certain fuel retailers or networks and can require separate systems for non-fuel expenses.

Finance Now said its new platform will function as an open loop fleet card. That structure allows use at any merchant that accepts Visa, subject to controls set by the fleet operator.

The company said fleet owners will be able to set real-time spending rules. These include merchant category restrictions, transaction limits and other authorisation controls, which will apply at the point of sale.

The product will provide detailed transaction data, including pump-level information for fuel purchases. Fleet managers will access this data and configure controls through a dedicated management app, while drivers will use a mobile app for day-to-day payments.

Finance Now said the system will include pay-at-pump functionality. The company also plans support for electric vehicle charging as that market develops.

Partners' views

Finance Now sees growing demand from businesses for more integrated vehicle expense management. It aims the product at organisations managing small and large fleets, including cars, vans and heavy vehicles.

"There is a clear demand for a fleet management payment solution that elevates standards in the New Zealand market," said Hadyn Halls, CEO of Finance Now. "By joining forces with Visa and Pismo, we are delivering a service that not only meets our clients' needs today but is also flexible enough to evolve as the market changes. We are proud to be the first in the region to offer this level of innovation to New Zealand businesses."

Visa will provide the card network, tokenisation and security layers for the product. It will also support data and control features for corporates.

"This collaboration marks a significant step forward in modernizing business vehicle payments in New Zealand. Fleet owners will benefit from a modern, open platform backed by Visa's network, tokenized controls, and richer data-resulting in a simpler, safer way to manage fuel and mobility spend, with real-time visibility and universal acceptance across New Zealand and the wider region," said Adams.

Pismo will supply the core processing platform, which runs in the cloud and uses an event-based architecture. The company said this design supports real-time transaction handling and monitoring.

"We are excited to support this launch with a modern platform that will enable users to have the a secure and enhanced experience, while Finance Now will have the flexibility to continue innovating and deliver tangible value for their clients," said Dudeja.

Technology base

The platform uses Pismo's core banking and cards technology. It sits on a microservices architecture in a cloud environment. Pismo said this structure gives issuers and programme managers a way to introduce new features and configure products without major system overhauls.

Finance Now said the real-time event-based model will give companies more immediate oversight of driver spending. It expects this to support prompt responses to suspicious activity and quicker adjustment of card limits and rules.

The system will support chip-based physical cards and tokenised digital cards. Tokenisation replaces primary card numbers with unique digital identifiers. This reduces the amount of sensitive data exposed during transactions.

Market rollout

Finance Now will work with fuel retailers, fleet management companies and other partners during the rollout. The company plans broad availability for businesses across New Zealand once the service goes live.

Finance Now currently operates in personal lending, motor vehicle finance, business lending and credit cards. It is part of SBS Bank Group and has worked with more than half a million customers in New Zealand.

Pismo supplies its processing platform to banks, marketplaces and fintech companies in multiple markets. Visa processes digital payments in over 200 countries and territories.

Finance Now expects the first release of the fleet payment solution in the first half of 2026 and plans further feature development after launch.