Visa Makes a Strategic Investment in NovoPayment to Support the Accelerated Deployment of Solutions to Visa’s Clients and Partners
NovoPayment, a Banking-as-a-Service platform category leader, and Visa Inc., the world’s leader in digital payments, announced an expansion of their strategic partnership to enable financial institutions and merchants to deploy Visa’s digital solutions in Latin America and the Caribbean. Visa has also made a strategic investment in NovoPayment.
Over the last two years, Visa and NovoPayment have made significant advancements in the digitization of payments across the region: from enabling apps with multi-functional capabilities for issuers, merchants and acquirers, to accelerating the deployment of Visa Direct, Visa’s real-time payments solution, and Visa Token Services for various use cases including payouts and peer-to-peer payments, as well as facilitating business-to-business money movements in markets like Mexico and Colombia.
Through its modular API delivery model and footprint in 12 markets across the Americas, NovoPayment provides accelerated time-to-market in the adoption of key Visa solutions, embedding them into new use cases such as digital account origination (new and simple ways of creating a bank account), instant card issuance and disbursements, driving secure commerce and the digital economy.
Anabel Perez, co-founder and CEO of NovoPayment, said, “We’re delighted to see that our shared vision for success is being realized, by expanding our partnership with Visa in such a way. It’s a testament of our proven enablement model and commitment to collaboration.”
“Partnerships are fundamental to Visa’s business model and the expansion of our strategic partnership with NovoPayment is another example of how collaboration will ultimately help our clients deliver improved customers experiences faster and easier than ever,” said Ruben Salazar, Senior Vice President of Products and Innovation for Visa Latin America and the Caribbean. “I am proud of all the work we have done over the years with NovoPayment and look forward to continuing to support our customers as they continue to adapt in this rapidly evolving payments landscape.”
Visa is committed to working with payment enablers like NovoPayment to support the integration of new startups and fintech players into the ecosystem. Arnoldo Reyes, Vice President of Digital Partnerships, Fintech & Ventures for Visa Latin America and the Caribbean explains, “At Visa we continue to work with platform partners to accelerate the integration of new fintech players interested in launching Visa technologies like Visa Token Service, Visa Direct, Virtual Cards and many others. NovoPayment will be a key partner for our Fintech Fast Track program, helping speed-up the time it takes for these new players to start working with Visa, and most importantly accelerate the time-to-market of their solutions.”