Wirecard and Visa Collaborate on Visa Fintech Fast Track Program

Digital financial technology firm Wirecard has signed an agreement to be the preferred payment processor for Visa to bolster the Visa Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term Fast Track Program in the Middle East region, the company announced today.

The Visa Fintech Fast Track Program enables fintech partners to develop new commerce experiences leveraging the reach, capabilities, and security that VisaNet, the company's global payment network, offers.

Wirecard is a fast growing digital platform in the area of financial commerce. It provides both business customers and consumers with a constantly expanding ecosystem of real-time value-added services built around innovative digital Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term by using an integrated B2B2C approach.

The Visa Fintech Fast Track Program enables fintech partners to develop new commerce experiences leveraging the reach, capabilities, and security that VisaNet, the company's global payment network, offers.

Wirecard, as a strategic partner of Visa, will provide its financial technology and payment solutions, as well as its in-depth market expertise aimed at accelerating growth and innovation within the thriving payment and fintech community in the region.

Developing new programs

Together, Wirecard and Visa will additionally cooperate to develop programs aimed at accelerating growth and innovation for their respective businesses.

Wirecard now has the ability to access Visa's growing network that is part of the Visa Fintech Fast Track Program and provide guidance to fintechs in helping them get up and running in the most efficient way possible.

"We are excited to be a part of the Visa Fintech Fast Track Program and together, we can continue delivering financial technology innovations to the key Middle East market," Humza Chishti, Regional Manager for Wirecard in the Middle East, says.

"We recognize that fintechs are nimble and fast and expect the same of any partner. The Visa Fintech Fast Track Program meets fintechs at the speed they work, streamlining access to Visa assets and capabilities, both globally and across the region. This partnership with Wirecard will allow us to continue to enhance the value of fintechs being part of our network and ensure that we work together on innovative new commerce experiences that can be delivered at scale and with pace," says Otto Williams, Vice President, Strategic Partnerships, Fintech and Ventures, CEMEA at Visa.