Visa Expands Fast Track Program to Enable Next Generation of Fintechs to Rebuild the Global Economy
Fast Track program grows 360% year-over-year, supports accelerating industries including digital wallets, financial inclusion, business-to-business (B2B) and digital currency payments
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(Graphic: Business Wire)
1. A rich Partner Toolkit to help fintechs accelerate their growth and better serve their customers.
2. A certification program called Visa Ready for Fintech Enablers, which makes it easier for fintechs to quickly connect with certified1 partners for digital issuance and other key services.
Fintech leaders around the world are increasingly choosing to work with
With the expansion of Visa’s industry leading Fast Track program, fintechs are armed with the tools to become category winners. Fast Track participation has grown 360% year-over-year, and
“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
Introducing the Fast Track Partner Toolkit
Powering the Digital Issuance Journey with Visa Ready
Visa Ready certification for “Fintech Enablers” is designed to help technology companies build and launch payment solutions that meet
Available today, Visa Ready for Fintech Enablers establishes a certified ecosystem of partners who are experts in the capabilities fintechs need to launch and operate products effectively on the
Fast Track Experiences
Of the hundreds of global companies now part of the program, some of the most recent innovators to join Fast Track include:
Digital Wallets: Working with companies like
Careem Pay, LINE Pay, Nubi, Paga, PalmPay, Razer, and Vipps, Visais expanding access to digital payments by meeting evolving consumer preferences for managing their money – and transforming some formerly closed-loop systems limited to certain geographies or functionalities into open ones, giving users greater choice, security and utility.
Advancing Financial Inclusion and Social Impact: Ensuring that consumers and businesses in all parts of the world have access to the financial tools and products to improve their lives is core to Visa’s mission. Companies like CapWay are helping to bring underrepresented communities access to digital payments, while
Cuencaprovides free accounts that can be opened in under 5 minutes. Daylight is a digital banking platform focused on improving the financial lives of the 30M+ LGBT+ in the U.S.and the first fintech in the U.S.to focus specifically on the LGBT+ community. MPOWER Financing and X1 are pioneering new methods of extending credit to demographics like undergrads and international students. SoLo Funds aims to provide affordable loans for Americans who live paycheck to paycheck, and Tomorrow aims to bring change to the mobile banking sector through its commitment to climate protection, sustainability and economic change.
Visais transforming B2B payments, a segment that represents $120 trillionin opportunity3, in its work with Fast Track members in every corner of the world, including: Airwallex, Checkbook.io, GMO-Payment Gateway, Konfio, and Payhawk.
Digital Currency Advancement:
Visais working closely with companies like BlockFi, Crypto.com, eToro Money, Fold, Ternio.io, Zap and ZenGo to connect digital currencies and its existing network of 61 million merchants.
New Enablement Partners: Fast Track is made possible due to collaborations with enablement partners who lay the foundation for fintechs to build their products. Announced today, Galileo, i2c, and Peoples Trust, are becoming part of Fast Track in Canada, joining a class of over 25 enablement partners around the world. From LAC, Visahas new partners like Cacao that offer BIN sponsorship, issuer processing, and program management.
Comments from Partners:
“Today's digitally-savvy businesses and consumers expect a modern and centralized experience when managing and paying bills — a process that's been locked in the past with inefficient systems,” said
"The mission behind CapWay has always been to provide more financial opportunity, access, and education, particularly for those who have been underserved and overlooked by the traditional banking system,” said
“Becoming part of programs like Fast Track and Visa Ready has allowed us to connect with new companies in the ecosystem and help them realize their product visions without compromise,” said
“Giving everyone choice in how and where they pay is essential to our mission of providing people and businesses around the world with access to simple, secure and reliable digital payments,” said
"2021 will be a year when Rappi builds even more opportunities for couriers (Rappitenderos), restaurant partners and small businesses. We face a lot of challenges ahead, but through collaboration, entrepreneurship and technology, we're going to get through them and create progress in our region,” said
"This is a difficult time for millions of consumers and their communities,” said
“Today, the ability to pay digitally is no longer just a convenience but a necessity and with Vipps being the leading digital wallet in
For more information on
1 Visa Ready partners are vetted and certified based on a specific set of criteria including, but not limited to, their ability to support digital issuance, ability to support multi-tenant architecture and ability to manage risk, among other capabilities.
2 Visa Fast Track Global Data,
3 Visa Q4 2020 Earnings Call Transcript