By ; NahlaMakled - Mohamed Shawky
The COVID-19 pandemic has created major financial challenges for businesses and consumers alike. As money management becomes increasingly digital, fintechs play a pivotal 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:
1. A rich Partner Toolkit to help fintechs accelerate their growth and better serve their customers.
2. A certification program called Visa Ready for Fintech Enablers, which makes it easier for fintechs to quickly connect with certified[4] partners for digital issuance and other key services.
Fintech leaders around the world are increasingly choosing to work with Visa across key categories including digital wallets, digital banking, ‘Buy Now, Pay Later’, B2B payments, cross-border remittance, bill payments, payments infrastructure, and person-to-person payments. Recent examples of fintechs partnering with Visa include Affirm, BillGO, Finix, Go-Jek, NOW Money, PayPal, paynas, Rappi, Stripe, stc pay, Varo Money, and Venmo, among many others.
With the expansion of Visa’s industry leading Fast Track program, fintechs are armed with the tools to become category winners. Fast Track participation has grown 360% year-over-year, and Visa has welcomed hundreds of fintechs[5] who are actively engaged in the program.
“It’s thrilling to see fintech partners utilize our programs and network to digitize financial services and improve the lives of the consumers and businesses they touch,” said Otto Williams, VP and Head of Strategic Partnerships, Fintech and Ventures for CEMEA, Visa. “Through the Fast Track program, we’re providing fintechs with a simple set of tools to bring their products to life. The resources we provide, such as online licensing and card design, have helped make Fast Track the leading program for fintechs.”
Visa has introduced a Fast Track Partner Toolkit designed specifically for fintech partners who onboard with the program. The toolkit was created to accelerate a company’s growth and provides extraordinary access to Visa’s experts in strategy, marketing, design, risk management, and more. Through the toolkit, partners can leverage educational resources like payments boot camps to help upskill a company’s knowledge of the industry, tap into key strategic resources to craft customized benchmarking studies and utilize Visa’s online card design tools to help build and launch a card into market quickly.
Visa Ready certification for “Fintech Enablers” is designed to help technology 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 build their own products by providing the solutions and expertise they need to get up and running.
