Visa unveils programme for smoother fintech integrations

Editorial

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Visa Commercial Integrated Partners aims to provide the ecosystem, technology and framework for fintechs and other business application providers to integrate, via APIs, payment functionalities into their platforms with ease and enable Visa credentials offered by issuers.

For example, the programme allows financial institutions that use Visa’s commercial platform to offer their customers virtual payments and data solutions, instead of having to complete direct technical integrations with these applications such as ERP or Fleet Management platforms.

Fleet and vehicle technology specialist Car IQ is tapping the programme to let clients access its software for their business customers and enable in-app payments with virtual cards at fuel providers.

Visa claims that by cutting supplier onboarding and development, this could potentially save 18 to 24 months of due diligence, integration work and project management.

The programme will let fintechs focus on innovation and enhancing customer experiences, while providing their customers with the ability to make payments with existing Commercial Card credentials, says Visa.

Meanwhile, financial institutions can offer customers things like payments in ERPs, expense management, mobile and vehicle apps, offer tokenisation through virtual cards, more elaborate transaction controls and enhanced data on settlements.

Darren Parslow, global head, Visa Commercial Solutions, says: “By leveraging our network and Commercial APIs, we are enabling our partners to innovate faster, reduce development and distribution costs and deliver superior payment experiences to their clients – it underscores Visa’s commitment to driving the future of digital payments and supporting the growth of the fintech ecosystem globally.”