SAN FRANCISCO—Visa has introduced the “Visa Ready To Launch” (VRTL) program, which it said is designed to give fintech and non-banking entities a “seamless” experience in issuing payment products, IBS Intelligence reported.
“Fintech and non-banking entities face many challenges when attempting to launch new payment programs. Technological, operational, and commercial enablement are all difficult to achieve in the marketplace as the card enablement landscape remains fragmented,” IBS Intelligence reported. “This means partnership with numerous players in the ecosystem like Bank Identification Number (BIN) sponsors, issuer processors, Know Your Customer (KYC) and Anti-Money Laundering (AML) partners, etc. is required for multi-market penetration.
“VRTL addresses these challenges by delivering end-to-end credentials issuance capability through product bundling, program management, and scalable tech integration platforms via APIs, which are the essential tools developers use to let Visa services run on their own platforms,” the report continued.
‘Plug & Play’
According to Salima Gutieva, vice president and UAE country manager with Visa, “Visa Ready To Launch is the first of its kind plug and play end-to-end issuance platform which effectively bundles products and services for fintechs to swiftly and seamlessly launch a payment program. The program promises simplified pricing, singular contracting, and seamless integration, which are absolute key pillars of a swift launch. We are extremely happy to have partnered with NymCard to bring this offering to our markets.”
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