Key Points:
- Visa expands its Fintech Fast Track program beyond card issuance to connect members to Visa Direct, its real-time money movement platform.
- The program expansion includes partnerships with companies such as Ugami, a debit card for gamers, and Niural, a global payroll and HR platform.
Visa is expanding its Fintech Fast Track program to drive the future of money movement. The global payment giant is extending its program beyond mere card issuance and is integrating members with Visa Direct, its real-time money movement platform. This action is designed to empower fintechs and help them differentiate their offerings through enhanced payment capabilities.
“Fintechs are a vital growth engine for the payments industry, and Visa is committed to supporting their progress,” noted Vanessa Colella, SVP, Global Head of Innovation and Digital Partnerships at Visa. The revamped Fast Track program will provide fintechs with personalized tools and resources to innovate and thrive, potentially paving the way for unprecedented growth within the fintech community.
The inclusion of Visa Direct in the Fast Track program will enable fintechs to launch programs through their financial institutions which will permit transfers to eligible cards, bank accounts, and digital wallets globally. Leveraging Visa Direct’s extensive reach will also support numerous use cases such as account-to-account transfers, and business and government payouts to individuals or small businesses.
In addition, Visa Consulting & Analytics will provide its expertise to Fintech Fast Track partners to aid their journey. The newly expanded program will offer up to $100K worth of Amazon Web Services (AWS) Activate credits for cloud consumption, business support, and access to personalized content and offers, ensuring fintechs derive maximum value from the program.
Over the past year, Visa has added 42 new clients to its Fast Track program in North America alone. Among those taking advantage of the Fast Track program are companies like Ugami, a debit card service for gamers, and Niural, a global payroll and HR platform catering to startups and enterprises in over 150 countries. The program has also benefited Ferry, a digital wallet designed for the hospitality industry. These partnerships illustrate Visa’s commitment to driving growth in the fintech industry and facilitating the next generation of money movement.
