Visa has launched a new program aimed at enhancing the fintech ecosystem by simplifying the integration of payment solutions into business applications.
### Visa Commercial Integrated Partners
This initiative provides the ecosystem, technology, and framework for fintechs and other application providers to seamlessly integrate payment functionalities through APIs, enabling the use of Visa credentials offered by issuers.
For instance, financial institutions using Visa’s commercial platform can offer their customers virtual payments and data solutions without needing to undergo direct technical integrations with applications like ERP or Fleet Management systems.
Fleet and vehicle technology specialist Car IQ is utilizing this program to allow clients to access its software, enabling in-app payments via virtual cards at fuel providers.
According to Visa, this approach can significantly reduce onboarding and development time, potentially saving 18 to 24 months in due diligence, integration work, and project management.
The program allows fintechs to focus more on innovation and improving customer experiences while enabling their clients to make payments using existing Commercial Card credentials. Financial institutions can provide features such as payments in ERPs, expense management, mobile and vehicle apps, tokenization via virtual cards, refined transaction controls, and enhanced settlement data.
Darren Parslow, Global Head of Visa Commercial Solutions, stated, “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. This underscores Visa’s commitment to advancing the future of digital payments and supporting the growth of the fintech ecosystem globally.”