By Dipo Olowookere
The determination of Visa, a global payments platform, to meet the growing needs of consumers in the financial technology (fintech) space has made it to add new features to its Fast Track Program.
The initiative allows fintech firms to use the platform to provide payments services to their customers.
Several big companies are on this programme, including Sparkle, PayPal, Stripe, Wallet Africa, Kuda Bank, Arca, Paga, ZappGroup and, Chipper cash among many others.
However, in order to help fintechs perform better as a result of the major financial challenges created by the COVID-19 pandemic, Visa has introduced a rich Partner Toolkit and a certification program called Visa Ready for fintech enablers,
The first feature will assist fintechs accelerate their growth and better serve their customers, while the second will make it easier for fintechs to quickly connect with certified partners for digital issuance and other key services.
“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, CEMEA Vice President, Head of Strategic Partnerships, Fintech & Ventures, 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.”
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.
With the expansion of Visa’s industry leading Fast Track program, fintechs are armed with the tools to become category winners.
This has been the main reason for the 360 per cent year-over-year growth recorded by the Fast Track participation as the firm has welcomed hundreds of fintechs who are actively engaged in the program.
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