Visa Expands Fast Track Program to Enable Miracle-Generation of FinTech to Reconstruct Global Economy – Tech

Business Wire India

Visa Adds New Partner Toolkit and Visa Ready Fintech Enabler Certification to Fast Track Program

The fast track program grows 360% year-over-year, supporting accelerated industries including digital wallets, financial inclusion, business-to-business (B2B) and digital currency payments

The COVID-19 epidemic has created major financial challenges for businesses and consumers alike. As money management is becoming increasingly digital, fintech is playing an important role in helping to restore and rebuild the global economy. To provide increased support for the ecosystem, Visa (NYSE: V) today announced two new components of its Fintech Fast Track program:

This press release contains multimedia. Watch the full release here: https://www.businesswire.com/news/home/20201118005362/en/

(Graphic: Business Wire)

1. A rich partner toolkit to help fintech accelerate its growth and better serve its customers.

2. A certification program for FinTech enablers called Visa Ready, which makes it easy for FinTech to quickly engage with credentials1 Partner for digital issuance and other key services.

Fintech leaders around the world to work with Visa in key categories including Digital Wallet, Digital Banking, ‘Buy Now, Pay Letter’, B2B payments, cross-border remittances, bill payments, payment infrastructure and person-to-person Choosing fast. payment. Recent examples of partnering with Visa include Voice, Billgo, Finix, Gojek,Paypal, Rappi, strip, Waro Bank, And Venmo, among many others.

With the expansion of Visa’s industry fast-track program, fintech classes are equipped to become winners. Fast track participation has grown by 360% year-over-year, and Visa has welcomed hundreds of fintechs2 Those who are actively engaged in the program.

Terry Angelos, SVP and Global Head of Fintech, Visa, said, “Fintech partners are thrilled to see us using our programs and networks to digitize financial services and improve consumers and businesses that touch their lives.” “Through the Fast Track program, we are providing fintech with a simple set of tools to bring our products to life. We provide resources such as online licensing and card design, which have helped make Fast Track a leading program for fintech. “

Introducing Fast Track Partner Toolkit

Visa has introduced a fast-track partner toolkit designed specifically for fintech partners that is onboard with the program. The toolkit was created to accelerate the growth of a company and provides exceptional access to Visa’s experts in strategy, marketing, design, risk management, and more. Through the toolkit, partners help to enhance a company’s knowledge of the industry, tap into key strategic resources to craft customized benchmarking studies, and use Visa’s online card design tools and help launch a card to market Can take advantage of educational resources. .

Powering up the digital issue journey with Visa Ready

The Visa Ready certification technology for “Fintech Enablers” is designed to help companies build and launch payment solutions that meet Visa’s global standards around security and functionality. These companies are in turn helping fintechs around the world to manufacture their products by providing their solutions and expertise.

Available today, Visa Ready for FinTech Enablers establishes a certified ecosystem of partners who specialize in the capabilities that FinTech requires to launch and operate products effectively on the Visa network. Recently, the Visa Ready program has connected Singapore with new partners around the world – Sao Paulo. New certified processing partners include Bpc radar payment (Global), Conductor (LAC), FIS (Global), Global Processing Services (GPS) (Global), I2C (Global), Marqeta (Global), and NovoPayment (LAC, NA). Likewise, Visa has certified BIN sponsors around the world helping to build programs for fintech. The dock (LAC), ends (APAC, EU), Railsbank (APAC, EU) and Sutton Bank (NA).

Fast track experience

Of the hundreds of global companies now part of the event, some of the most recent innovators who have joined Fast Track include:

  • Digital Wallet: Working with companies like On carrom, On line, cloud, the wages, PalmPay, Razer, And VIPPS, Visa is expanding access to digital payments by meeting consumer preferences for managing its money – and limiting some previously geographic closed-limiting systems to some, giving users more options, security and usability Is giving
  • Advancing Financial Inclusion and Social Impact: Ensuring that consumers and businesses in all parts of the world have access to financial instruments and products to improve their lives is key to Visa’s mission. Companies like CapWay Helping low-paid communities access digital payments, while Cuenca Offers free accounts that can be opened within 5 minutes. Daylight Is a digital banking platform focused on improving the financial lives of 30M + LGBT + in the US and is the first fintech in the US to focus specifically on the LGBT + community. MPOWER Financing And X 1 Like undergarments and international students are leading new ways of expanding demographics. Interest fund The goal is to provide affordable loans to Americans who live from paycheck to paycheck, and tomorrow It aims to bring change in the mobile banking sector through its commitment to climate protection, stability and economic change.
  • B2B payment: Visa is replacing B2B payments, a segment that represents $ 120 trillion3, His work with fast trackmembers in every corner of the world includes: Airwallex, Checkbook.io, GMO-Payment Gateway, Self-confidence, And Payhawk.
  • Digital Currency Advancement: Working closely with companies like VisaBlockFi, Crypto.com, eToro Money, Folding, Ternio.io, To abuse And Zengo To connect digital currencies and its existing network of 61 million merchants.
  • New Competent Partners: Fast Track is made possible by collaborating with supporters who lay the foundation for fintech to manufacture their products. Announced today, Galileo, I2C, And public confidence, Becoming part of the fast track in Canada, joining a class of over 25 supporters from all over the world. From LAC, Visa has new partners such as Cocoa That provide BIN sponsorship, issuer processing, and program management.

Comments from partners:

“Today’s digitally-savvy businesses and consumers expect a modern and centralized experience when managing and paying bills – a process that has stopped in the past with inefficient systems,” Mike Pinto, EVP Enterprise Alliance & Product, Bilgio said. “When it comes to paying bills, everyone expects instant payments and with Visa we are increasing our ability to offer real-time frictionless bill payments.”

“The mission behind Capway has always been to provide greater financial opportunities, access and education, especially to those who have been underlined and ignored by the traditional banking system,” said Sive Allen, CEO, Capway. Out of the reasons for our team is the fact that they provide technology and payment. More importantly, we share the same commitment to social impact that we work on the Capway every day, and they have been fully supportive of our work to provide a solution when we are primarily in a cashless economy Are entering “

Aamir Wayne, CEO and Founder of I2c said, “Being part of programs like Fast Track and Visa Ready has allowed us to connect with new companies in the ecosystem and dream of their products without compromising.” “It is clear that these programs were created to meet the specific needs of both large and small fintechs and thrive with the tools and partners needed to get everyone in the ecosystem to market quickly and easily Will help. “

Jim Magets, SVP Omni Payments, PayPal said, “They give everyone the choice of how and where they pay, our ability to provide simple, secure and reliable digital payments to people and businesses around the world Required for the mission. ” “We are excited to partner with Visa to advance the future of digital payments and also help more customers access their funds faster.”

“2021 will be a year when Rappi creates even more opportunities for couriers (rapitenders), restaurants and small businesses. We face a lot of challenges ahead, but through collaboration, entrepreneurship and technology, we Are going to get through and make. Progress in our field, “said Simon Borrero, CEO and co-founder, Rapi.” It has been important for us to work with partners such as Visa to create new opportunities in financial services for our partners and users. Visa Technology is one of the most recognized in the world and supports us as a trusted brand in those markets Is proud to be able to where we have our digital wallet, as this is only the first step to raising the standard of financial services. In Latin America and the Caribbean. “

“This is a difficult time for millions of consumers and their communities,” said Colin Walsh, CEO, Vero Bank, “We are proud to work with partners like Visa for our customers for their money, and secure access to tap.” Payment options like -to-pay and mobile wallets, as well as a shared commitment to innovation that will strengthen the future of banking. ”

“Today, the ability to pay digitally is now not just a feature but a necessity and with VIP being the leading digital wallet in Norway reaching 3.8 million users, we are able to send, pay and receive money to citizens Touch of a button, “said Rune Garborg, CEO, VIP.” With Visa, we are enabling banks to offer smart and simple digital payment services to their customers in Europe and beyond. With Visa , We are able to leverage our combined expertise, and experience giving consumers and businesses access to secure, digital commerce, regardless of where they live or what mobile device they have. “

For more information about visa programs and resources created for the fintech community, visit here.

About Visa Inc.

Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – to make individuals, businesses and economies successful. Our advanced global processing network, VisaNet, provides secure and reliable payments worldwide, and is capable of handling more than 65,000 transaction messages in a second. The company’s tireless focus on innovation is a catalyst for the rapid development of digital commerce on any device for everyone, everywhere. As the world moves from analog to digital, Visa is implementing our brands, products, people, networks, and scale to re-organize the future of commerce. For more information, visit About visa, visa.com/blog And @VisaNews.

1 Visa-ready partners are vetted and certified based on a specific set of criteria including, but not limited to, their ability to support digital issuance, the ability to support multi-tenant architecture, and other capabilities. Ability to manage risk between.
2 Visa Fast Track Global Data, September 2020
3 Visa Q4 2020 Income Call Transcript

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