Tuesday , March 2 2021

Visa: Visa's Fast Tracking Program has become global with its launch in the US



Visa supports the global Fintech community in promoting next-generation digital payments

VC community joins Fast Track program: Visa automatically registers Venture Capital (VC) portfolio companies in the program

Fintech is rapidly transforming the global payments ecosystem, changing the way people invest, manage money, receive loans, and send real-time payments to friends and family. Given the importance of the Fintech community and Visa's longstanding commitment to innovation in digital payment, Visa (NYSE: V) today announced the expansion of its fast tracker. in the United States in collaboration with a large and growing network of partners.

This press release contains multimedia elements. See the full press release here: https://www.businesswire.com/news/home/20190801006141/en/

Visa Launches Fast Track in USA (Photo: Business Wire)

Visa Launches Fast Track in USA (Photo: Business Wire)

The Fast Tracking program aims to accelerate the process of integration with Visa to give start-ups the opportunity to more easily utilize the reach, capabilities and security of VisaNet, VisaNet's global payment network. company. This will allow Fintechs to develop faster.

Fast Track is implemented in the United States in collaboration with major companies that provide services in all areas of payment: card issuing, push-to-pay integration, compliance with the payment card industry (PKI), and to take responsibility for relationships with Know Your Customer (KYC) and Anti-Money Landing (AML). Visa launches Fast Track in the United States in collaboration with Alloy, BBVA Open Platform, Cross River Bank, Galileo, Green Dot, Marqeta, Netspend (TSYS user segment), Stripe, TabaPay, TSYS, Q2 and very good security. Visa DPS will also support the participation of certain partners in the program.

"Visa has successfully deployed Fast Track in worldwide markets, working with FinTechs to pave the way for commercialization, leveraging scale, security, reach and a strong network of partners. Visa, "said Terry Angelos, Senior Vice President and Global Chief Financial Officer at Visa." Starting Fast Track in the US, we continue to support Fintechs worldwide to accelerate the growth of digital payments and create better ways to money transfer around the world. "

Last year, venture capital-funded FinTechs raised a record $ 39.6 billion from global investors, up 120 percent from the previous year.0.1. As part of the launch of Fast Track in the United States, Visa works with leading venture capital firms to automatically list their portfolio companies as part of the US Fast Track program. These first partners include Andreessen Horowitz, Nyca Partners, Ribbit Capital and Trinity Ventures.

Already available in Europe, Africa, the Middle East, Latin America and Asia Pacific, Visa's rapid tracking program has enabled Visa to drive the growth of the financial technology industry worldwide. Interested participants based in the United States can now apply by visiting www.visa.com/fintech.

Visa's ongoing commitment to Fintechs worldwide

Visa's collaboration with Fintechs reinforces many of the company's strategic priorities, including: Visa Direct, Visa Business Solutions and Visa's commitment to offering digital banking options to non-bank customers through digital banking programs. social impact.

Fast Track is part of a broader strategy implemented by Visa to promote the growth and development of Fintechs worldwide. In addition to Fast Track, Visa regularly collaborates with the Fintech community through a variety of programs and strategic initiatives. In particular:

partnerships:

  • All over the world, Visa has partnered with innovative Fintechs to help them achieve their growth and payment ambitions by leveraging Visa's speed, security and scale.

  • In the past year alone, Visa has partnered with several leading financial technology companies, including Currencycloud, Flutterwave, Ininal, N26, PayActiv, Rappi, Razer and Remitly.

investments:

  • Visa is actively investing in companies that use advanced technologies to create new payments flows within the ecosystem.

  • This year alone, Visa has invested in a number of leading Fintechs worldwide, including: Attachment, Bankable, Branch, Finix, Minna Technologies and PayMate.

Continuous commitment:

  • Including Fintech 50: Co-designed and funded by Visa, the Inclusive Fintech 50 is a race to make Fintech start-ups more visible to investors and others that can help them grow and reach more malnourished people.

  • Visa Everywhere Initiative: An international competition to build new relationships with the global startup community.

Fintechs are now striving to change the way money works by solving the friction that senders and payees experience on a daily basis. As one of the first Fintechs in the world, Visa is committed to partnering with the next generation of payment innovators. Today, Visa's mission is to help Fintechs commercialize new digital payment experiences across a broad range of industries, including: non-banking and acceptance, as well as new payment-focused payment areas. the payer as access to earned pay, money management, investments and loans.

Comments from venture capital firms:

"Speed ​​is critical for Fintech startups, especially in the early stages of startup. Easier access to the type of infrastructure offered by Visa's Fast Track program will help unlock huge amounts of innovation in the payments ecosystem, "says Trinity Ventures General Partner, Shvark Satyavolu. "We look forward to introducing our companies to Visa as they continue to drive digital innovation in the payments industry."

"We note that while many entrepreneurs are designing big ideas that can deliver real value and solve problems in the global payment system, they are stumbling on a potential problem: the difficulty of distribution and infrastructure connectivity," says Hans Morris, Associate Director at Nyca Ventures. "Fast Track solves this problem by allowing some of our top companies to start working with Visa immediately. "

Quick Start Partners Feedback in the United States:

“Alloy is proud to share Visa's mission to promote the next generation of innovative Fintech products and services. They come to market faster with the best identity, compliance and payment solutions on the market, "said Laura Speakerman, co-founder and CRO of Alloy.

"The BBVA Open Platform prides itself on being a facilitator of financial technology companies in the United States. Using our intuitive IPA platform enables innovative companies to offer their own branded banking and payment services, ”said Abhishek Gupta, Director of BBVA's Open Platform. "We are excited to partner with Visa to expand our mission to help our business grow exponentially and create more opportunities for consumers in addition to better banking and payment services." "

"Cross River is excited to partner with Visa to promote the next generation of commerce," said Gill Gade, founder, CEO and chairman of Cross River's board of directors. "The Cross River and Visa Association is a compelling proposition in delivering innovative banking and payment solutions that transform financial services. "

"The simplicity of Galileo's IPA enables global fintech leaders to leverage our powerful technology platform to innovate in the banking and payment ecosystems," said Clay Wilkes, Galileo CEO. "Now with Visa's Fast Track program we are accelerating access to this feature. Self-employed economic companies, FinTechs and all payroll companies can accept it to begin issuing payment identification data, with the confidence to generate and grow a profitable business. "

"We are delighted to be part of the Visa Quick Track Program," said Bret Narlinger, director of revenue at Green Dot. "Visa has been an exceptional partner in developing our banking offering as a service and we look forward to integrating many new and innovative businesses through our flexible technology platform, managed by IPA, our large-scale program management operation. scale and our highly capitalized integrated bank. We found that the Green Dot BaaS platform, with its proven scale and proven capabilities, was a quick way for Fintechs to launch new products. We are excited to make Green Dot BaaS accessible to even more companies through this partnership. "

"Marqeta was created with the mission to provide advanced mapping technology to next-generation FinTech innovators who needed sharp IPA solutions to help them better design their products to accelerate their commercialization." and their growth, "said Jason Gardner, founder and CEO of Marqeta. as the company moves forward. The future of banking and payments is constantly changing and evolving. "

"As Fintech, we are always looking to restore and support companies with innovative solutions that allow Fintechs to quickly reach the market and grow," says Manoi Verma, Co-Founder and Revenue Manager at Tabapay. "Our partnership with Visa through the Fast Track program can only help us deliver on our promises. "

"TSYS and Netspend, the TSYS consumer segment, are pleased to partner with Visa to help build potential relationships as well as business opportunities, with new Fintech companies pushing the boundaries of Fintech innovation to the US. "The United States," said Kelly Knutson, President of Netspend and Senior Vice President of TSYS. who value the reliability, security and security of their financial services partners' trust Partnering with organizations that also prioritize these qualities is a critical element of the Fast Track program. We look forward to partnering with Visa and and contribute to the growth and development of our respective sectors and channels emerging companies financial technologies. "

"The Fintech Fast Track program emphasizes Visa's commitment and high security to help emerging Fintech companies sell their products quickly and safely," said Mahmoud Abdelkader, CEO and Co-Founder of VGS. "VGS is excited to partner with Visa to provide the core security and compliance infrastructure for the next generation of Fintechs."

About Visa Inc.

Visa Inc. (NYSE: V) is the world leader in digital payments. Our mission is to connect the world to the most innovative, reliable and secure payment network and thus enable individuals, businesses and economies to thrive. Our leading global processing network, VisaNet, provides secure and reliable payments worldwide and is capable of processing more than 65,000 transaction messages per second. The company's ongoing focus on innovation is the catalyst for the rapid growth of connected digital commerce on any device, for anyone and anywhere. As the world goes from analogue to digital, Visa makes available its brand, products, employees, network and scale to invent the future of commerce. To find out more, visit About Visa, visa.com/blog and@VisaNews,


1 CB Insights: Fintech Trend Report 2019

The text of the press release as a result of the translation should in no way be considered official. The only version of the edition that is authentic is the version of the edition in its original language. The translation will always have to contend with the source text, which jurisprudence will do.


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