How Visa is driving innovation in payment sector

Global payments company, Visa, recently joined hands with four global finance firms to help fintechs in over a dozen Asia Pacific markets launch digital payment solutions. These new partners are Episode Six, Euronet Worldwide, Global Processing Services and M2P Solutions.

Episode Six provides a global, next-generation fintech platform for creating payments products for businesses and consumers, while Euronet Worldwide offers a Digital Integrated Payments Cloud (DIPC), based on full-stack open APIs and microservices. Global Processing Services enables global solutions over 100 APIs and the Apex platform and M2P Solutions has a suite of Visa products across credit, debit or prepaid over a bundle of Rest APIs.

These four partners have joined Visa’s FinTech Fast Track program, which will allows entrepreneurs to onboard the company’s network with greater ease.

They have received certification for issuing a Visa credential into a mobile wallet, giving users the ability to use a digital card on their phone to make payments at 54 million merchant locations worldwide that accept Visa and enabling frictionless, secure transactions in mobile.

Additionally, they can offer ecommerce environments with Visa Token Service, an added layer of payments security while supporting frequent travellers with multi-currency capability to enable seamless payments across borders. They can also push payments to other financial accounts via the secure, real-time funds delivery offered by Visa Direct.

With these tools, the newly enlisted partners can roll out innovative payments solutions in 12 Asia Pacific markets including India, Australia, Hong Kong, Indonesia, Japan, Malaysia, New Zealand, Philippines, Singapore, South Korea, Thailand, and Vietnam.

“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.”