New Visa Alliances Help FinTechs Launch Payments Solutions

Visa is collaborating with four global finance firms to help FinTechs issue plastic and digital payments, the company announced in a press release on Monday (Dec. 2).

The four new partners — Episode Six, Euronet Worldwide, Global Processing Services and M2P Solutions — have joined the Visa FinTech Fast Track program. The partner firms will collaborate with Visa to enable faster go-to-market for FinTechs looking to launch new payment solutions.

With the program, FinTechs can connect with a single processor to quickly introduce new payments products across a dozen markets in Asia Pacific — Australia, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Philippines, Singapore, South Korea, Thailand, and Vietnam.

The partners are certified in mobile wallets, security with the Visa Token Service, cross-border payments and real-time transfers with Visa Direct.

“These partners will provide FinTechs with a faster, easier way to access Visa’s global network and get new payment solutions into their customers’ hands, whether on a physical card or in a digital wallet,” said Chris Clark, regional president of Asia Pacific at Visa. “Through working with Visa’s issuer processor partners, FinTechs can extend their reach into new markets or customer segments.”

The following FinTech Fast Track Program partners offer entrepreneurs quick and easy ways to onboard with Visa:

Partner Episode Six provides a global, next-generation FinTech platform for creating payments products for businesses and consumers.

Euronet Worldwide offers a Digital Integrated Payments Cloud (DIPC), based on full-stack open APIs and microservices.

Global Processing Services (GPS) enables global solutions over 100 APIs and the Apex platform.

M2P Solutions (YAP) is the first platform in Asia offering a suite of Visa products across credit, debit or prepaid over a bundle of Rest APIs.

More people worldwide use the internet and own a smartphone than don’t, and global eCommerce topped $29 trillion in 2017. Yet the world still has 1.7 billion unbanked consumers who remain nearly wholly paper-dependent when it comes to making payments. That’s $17 trillion worth of consumer payments still made with checks and cash each year. The September launch of Visa Partner aims to close that gap.