Streamlined Success: Visa and M2P Transform Fintech with VRTL
In an era dominated by digital transactions, the fintech industry stands as a beacon of innovation, constantly evolving to meet the ever-growing demand for seamless financial solutions. However, navigating this space’s intricate web of regulations, technologies, and partnerships can be a formidable challenge. Recognising the need to streamline this process, global digital payments leader Visa has forged a transformative partnership with Asia’s largest API infrastructure company, M2P Fintech. Together, they aim to ease the path for fintechs and non-banking entities, addressing the pain points that have hindered their ability to issue payment products.
The Fintech Landscape: Overcoming Challenges
Traditionally, launching new card programs has been arduous for fintechs and non-banking entities. The financial world is rife with technological, operational, and commercial challenges, which often arise due to the fragmented card enablement landscape. Enter the ‘Visa Ready to Launch’ (VRTL) programme, designed explicitly to tackle these challenges head-on.
At the heart of VRTL’s success is the necessity for partnerships. Collaborating with licensed financial institutions for Bank Identification Number (BIN) sponsorship, issuer processors, Know Your Customer (KYC), and Anti-Money Laundering (AML) partners is essential for successful multi-market penetration. M2P Fintech’s expertise in building financial infrastructure through cutting-edge APIs is a crucial tech layer between banks, fintechs, and financial institutions. This layer embeds financial technology into core business offerings, ensuring a robust foundation for growth.
Streamlined Excellence: Visa Ready to Launch
Visa Ready to Launch goes beyond merely simplifying the issuance of payment products; it offers an end-to-end solution. This is achieved through product bundling, program management, and a secure and scalable technology integration platform via API and SDK. In essence, it provides fintechs with the necessary tools to streamline their operations efficiently.
Shashank Singh, Vice President and General Manager for Kuwait and Qatar at Visa, highlights how VRTL empowers fintech: “The Visa Ready to Launch programme provides fintech with extensive go-to-market toolkits including SDKs, online education coupled with subject matter expertise, all designed to help the fintech go to market faster and more efficiently. The programme enables fast decision-making and fast-tracks deployment of credentials via product bundling, pricing simplification, rapid contracting and ease of implementation.”
M2P Fintech’s Commitment to Innovation
Vaanathi Mohanakrishnan, Business Head for MENA at M2P Fintech, echoes the sentiment: “Visa Ready to Launch is an excellent toolkit for fintechs eagerly awaiting to launch their programmes. It represents M2P’s commitment to staying at the forefront of technological advancements and resonates with our philosophy: Innovate, Execute, Repeat. Fintechs can focus on their core business without worrying about piecing together various ecosystem components to innovate. VRTL resolves fintech’s pain points, providing them with the tools they need to thrive and to unlock their potential.”
Conclusion: Pioneering a New Era in Fintech
Innovation and collaboration are the keystones of success in an increasingly digital world. Visa’s partnership with M2P Fintech represents a significant step towards simplifying the complex fintech landscape. Through the Visa Ready to Launch programme, fintechs and non-banking entities can now easily navigate the challenges of payment product issuance, ensuring that they can focus on their core business – innovating and delivering cutting-edge financial solutions.
This partnership is a testament to the power of collaboration and innovation in reshaping the fintech industry. As fintechs leverage the tools provided by VRTL, the financial world can look forward to a future of even greater digital convenience and efficiency.
