Visa adds new tools to FinTech ecosystem

To provide increased support for its FinTech ecosystem Visa has unveiled new components of its Fast Track programme.

As part of the offering there is a Partner Toolkit to help FinTechs “accelerate growth” and better serve their customers.

In addition, a certification programme called Visa Ready for Fintech Enablers makes it easier for firms to connect with certified partners for digital issuance and other key services.

The Fast Track Partner Toolkit provides “extraordinary access” to Visa’s experts in strategy, marketing, design, risk management and other areas.

Through the toolkit, partners can leverage educational resources like payments boot camps to help up-skill a company’s knowledge of the industry, tap into key strategic resources to craft customised benchmarking studies, and use Visa’s online card design tools to help build and launch a card into market quickly.

With Visa Ready certification, technology companies can build and launch payment solutions that meet Visa's global standards around security and functionality.

The Visa Ready programme has already added several new partners operating in Europe.

New certified processing partners include BPC Radar Payments, FIS, Global Processing Services (GPS), i2c and Marqeta.

Similarly, Visa has certified European BIN sponsors that help stand up programmes for FinTechs, including Nium and Railsbank.

Fast Track participation is said to have grown 360 per cent globally year-over-year.

Recent examples of FinTechs partnering with Visa include Bankable (UK), Conotoxia (Poland), Enfuce (Finland), ininal (Turkey), Modulr (UK), PayPal (US), Railsbank (UK) and Vivid Money (Germany), among many others.

Jana Lvova, head of FinTech Europe at Visa, said: “Through the Fast Track programme we’re providing firms 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 programme for FinTechs.”

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