The power of partnerships: how businesses + Visa collaborate on the future
September 06,2019 09:32 AM GMT
Revolut is the latest innovator joining Visa to bring new financial services and capabilities to millions
Today Visa announced a new agreement with Revolut, a leading UK-based fintech, to leverage Visa’s brand, scale and global acceptance to expand its digital banking services to five new regions around the world. A similar investment in the fintech Plaid made the news earlier this month; the San Francisco-based company makes it easier for consumers, banks and developers to access and create financial services.
Sensing a trend here? So are we. For more than 60 years, partnerships and investments have been fundamental to Visa’s work to connect the world through payments to build a future where more individuals, businesses and economies thrive. Visa was founded on the principle that the best way to expand access to digital payments was through a global network of financial institution and merchant partners.
As the world becomes increasingly mobile and digital, Visa joins with new players, including emerging fintechs, mobile network operators, software developers and hardware manufacturers whose access to our network, products, tools and expertise enable their growth and success. Last year Visa invested $100 million to support fintechs globally through our Fintech Fast Track program and the company has invested nearly $2 billion over the last five years to develop new services and capabilities, such as biometrics, artificial intelligence, tokenization and tap-to-pay, for clients and consumers. Below is a list of just a few recent partnerships and investments that are critical to a future where access to digital payments are fast, easy and secure – for consumers, governments and companies alike.
- Revolut, a leading UK-based fintech, leverages Visa’s brand, scale and global acceptance to expand its digital banking services to five new regions around the world.
- Branch, a fintech startup that uses smartphone data to assess creditworthiness and grant loan approval in minutes, partners with Visa to in part to access our global network of ATMs.
- Bankable, the global provider of “Banking as a Service” solutions, enables financial institutions and banks to access real-time and modular banking solutions worldwide.
- N26, one of Europe’s leading fintechs, leverages Visa’s Fintech Fast Track to roll out their mobile banking app to the U.S.
- Sabre, a technology provider to the global travel industry, works with Visa to grow B2B virtual payments in the travel industry.
- BillTrust collaborated with Visa to help launch its business payments network and redefine digital B2B payments.
- Facebook joined the Visa Digital Enablement Program (VDEP) and uses the Visa Token Service to help accelerate the availability of secure, payment-enabled services through its digital properties.
- Marqeta, the open API payment card issuing platform, partners with Visa to leverage growing opportunities for virtual, physical and tokenised payments.
- Visa invested in Klarna, one of Europe's fastest growing online payments companies, to help them build and grow their payments offerings as they expand.
- Visa purchased a 10 percent stake in rising mobile payment startup Square.