SAN FRANCISCO—Visa reported it is expanding its Fintech Fast Track program beyond card issuance to connect members to Visa’s real-time money movement platform, Visa Direct.
Additionally, Visa Consulting & Analytics has developed capabilities to support key needs of Fintech Fast Track partners, Visa said.
“Fintechs are a vital growth engine for the payments industry, and Visa is committed to supporting their progress,” said Vanessa Colella, SVP, global head of innovation and digital partnerships, Visa. “The enhanced Fast Track program offers fintechs personalized tools and resources to innovate and excel. We believe this will be a gamechanger that will catalyze new growth opportunities within this community, and further our mission to uplift everyone, everywhere.”
According to Visa, with the expansion of Fast Track to include Visa Direct, fintechs can now launch programs through their financial institutions to enable transfers to eligible cards, bank accounts, and wallets around the world.
Multiple Use Cases
Visa Direct said it supports multiple use cases, such as person-to-person payments and account-to-account transfers, business and government payouts to individuals or small businesses, and merchant settlements and refunds.
According to Visa, it provides a single point of access and reach to over 8.5 billion endpoints capability, including 3+ billion cards, 3+ billion accounts and 2.5+ billion digital wallets.
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