Visa’s Fintech Fast Track Program Goes Global with Launch in U.S.
Visa champions the global fintech community to drive the next generation of digital payments
VC community supports Fast Track: Visa to automatically qualify portfolio companies of participating VCs into program
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190731005339/en/
Visa Launches Fast Track in the U.S. (Photo: Business Wire)
Fast Track aims to speed up the process of integrating with Visa, to allow nimble start-ups the ability to more easily leverage the reach, capabilities, and security VisaNet, the company’s global payment network, offers, thereby helping fintechs scale more quickly.
Fast Track is possible in the U.S. thanks to collaborations with leading companies who provide services across the payments spectrum – from card issuance, to push payments integration, to Payment Card Industry (PCI) Compliance, as well as Know Your Customer (KYC) and Anti-Money Laundering (AML) support. Visa is launching Fast Track in the U.S. in collaboration with Alloy, BBVA Open Platform, Cross
“In markets across the world, Visa has successfully rolled out the Fast Track program, linking arms with fintechs to provide a clear path towards getting to market, leveraging Visa’s scale, security, reach and strong network of partners,” said
Last year, venture capital-backed fintechs raised a record
Visa’s Fast Track program, already available in
Visa’s Ongoing Commitment to Fintechs around the World
Visa’s work with fintechs bolsters many of the companies’ strategic business priorities including: Visa Direct, Visa Business Solutions (VBS), and Visa’s commitment to bringing digital payment options to the unbanked via social impact programs.
Fast Track is one part of a broader Visa strategy to support fintechs’ growth and development globally. In addition to Fast Track, Visa is consistently engaging with the fintech community through a variety of strategic initiatives and programs. These include:
- Across the globe, Visa collaborates with innovative fintechs to help them reach their growth and payment ambitions, with the backing of Visa’s speed, security and scale.
In the past year alone, Visa has announced partnerships with multiple leading fintech companies, including: Currencycloud, Flutterwave, ininal, N26, PayActiv, Rappi,
- Visa actively invests in companies leveraging cutting-edge technology to create new payment flows for the ecosystem.
This year alone, Visa has invested in multiple leading fintechs worldwide, including:
Anchorage, Bankable, Branch, Finix, Minna Technologies and PayMate.
- Inclusive Fintech 50:Co-designed and funded by Visa, the Inclusive Fintech 50 isa competition to make early-stage fintechs more visible to investors and others who can help them scale and reach more underserved people.
- Visa Everywhere Initiative: A global competition aimed at cultivating new relationships with the global startup community.
Fintechs today are looking to change the way money works, solving for friction that senders and receivers of payments experience day-to-day. As one of the world’s original fintechs, Visa is committed to partnering with and supporting the next generation of payment innovators. Today, Visa is focused on helping fintechs bring to market new digital payment experiences across a broad spectrum of verticals including: neo-banking and acceptance, new sectors across push payments like earned wage access, money management and investments, as well as lending.
Comments from Venture Capital Firms:
“Speed is essential for fintech startups, particularly in the early stages. Easier access to the kind of infrastructure provided by Visa’s Fast Track program will help unlock massive amounts of innovation in the payments ecosystem,” said Schwark Satyavolu, General Partner,
“We see many entrepreneurs with big ideas that can add real value and solve problems in the global payments system; the problem can be the difficulty of distribution and connectivity to the essential infrastructure,” said
“Alloy is proud to share Visa’s mission of supporting the next generation of innovative fintech products and services as they get to market faster with the best identity, compliance and payments solutions in the market,” said
“BBVA Open Platform is proud to be an enabler of fintech companies across the U.S., using our intuitive API platform to empower leading innovative companies to offer banking and payments services under their own brand,” said
“Cross River is excited to partner with Visa to power the next generation of commerce,” said
“The simplicity of Galileo’s APIs gives global fintech leaders the ability to use our powerful technology platform to innovate in the banking and payments ecosystem,” said
“We are thrilled to participate in Visa’s Fast Track program,” said
“Marqeta was founded with a mission to bring modern card issuing technology to a new generation of fintech innovators badly in need of open API solutions to help them better design products to get market and reach scale faster,” said
“As a Fintech ourselves, we are always looking to give back and support companies with innovative solutions to help fintechs get to market fast and scale,” said
“TSYS and Netspend, TSYS’ consumer segment, are pleased to partner with Visa to help establish potential relationships, and business opportunities, with new fintech companies that will push the limits of fintech innovation in the U.S.,” said Netspend President and TSYS Senior Executive Vice President,
“The Fintech Fast Track program highlights both Visa and Very Good Security’s commitment to help emerging fintechs get to market both rapidly and securely,” said
1 CB Insights: “Fintech Trends Report,” 2019
Email: [email protected]