Visa and NovoPayment Partner to Facilitate B2B Transactions in Latin America and the Caribbean
January 10 2018 - 10:14AM
Business Wire
This first initiative simplifies
business-to-business transactions through innovative payment
solutions that enable the shared and gig economy sector.
Visa (NYSE:V) has announced a partnership with NovoPayment, a
leading enabler of digital financial and transactional services, to
facilitate the implementation of payment solutions for Business to
Business (B2B) transactions in Latin America and the Caribbean. The
companies will work in three key B2B areas: solutions for the
business traveler, solutions for accounts payables and receivables;
and accelerating Visa’s bank clients go-to-market strategies.
The first project under the new partnership has launched in
Colombia, where Visa, NovoPayment and a local bank are enabling
real-time payments in the urban delivery sector through a suite of
APIs that provide courier fleets the ability to electronically
procure goods from merchants on behalf of customers through
dynamically created and loaded Visa accounts. This new model,
integrated by NovoPayment’s platform, gives urban delivery
businesses greater operational agility and scalability in a
fast-growing and digitally-driven category.
Another project advancing under this new partnership, aims at
simplifying the payment of independent drivers in the expanding
urban mobility and shared transportation sector. Under this model,
drivers will use Visa accounts to efficiently receive payment for
services rendered and to manage day-to-day expenses.
Through the integration with Visa’s platforms and API’s, this
partnership with NovoPayment offers Visa clients – banks, merchants
and acquirers – new payment functionalities and the ability to
accelerate the adoption of electronic payments in the region.
“Through our open collaboration strategy, we partner with
fintechs in the region to accelerate the adoption of new
technological capabilities that complement our payment
functionalities and those of our bank and merchant partners,” said
Allen Cueli, Vice President of Product Solutions and New Enablers.
"This is the first initiative resulting from a broader partnership
with NovoPayment, focused on the deployment of a number of projects
including prepaid enablement, API integration as well as B2B
solutions,” he concluded.
The partnership with NovoPayment aligns with Visa’s overall
objective to move businesses and consumers from cash to digital
forms of payment. For Visa, a culture that relies less on cash
provides more convenience, more security and ease of use, which
translates into faster growth and greater efficiency compared to
cumbersome and expensive cash handling processes.
“We work to expand the use of electronic payments across the
region, to improve people’s daily lives and help businesses
increase sales and operate more efficiently,” said Diego Rodriguez,
Vice President Business Solutions Visa Latin America and the
Caribbean. “These projects with NovoPayment allow us to extend our
reach and presence in the region, through different business
models, facilitating payments amongst businesses and creating
frictionless business-to-business interactions,” he added.
“Ultimately, by integrating our APIs and collaborating more
closely, we are able to help others deliver better customer
experiences and create new value chains free of traditional
bottlenecks, while capturing new money and data flows,” said Anabel
Perez, CEO of NovoPayment. “Our most recent project in Colombia is
a great example of the kind of interoperability and structure
required in today’s platform-driven businesses and a hint of what
is possible in the future,” she added.
The combined proficiencies of both companies, along with their
reach, will accelerate the development and diversity of Latin
America’s payments ecosystem.
About Visa
Visa Inc. (NYSE: V) is the world’s leader in digital payments.
Our mission is to connect the world through the most innovative,
reliable and secure payment network - enabling individuals,
businesses and economies to thrive. Our advanced global processing
network, VisaNet, provides secure and reliable payments around the
world, and is capable of handling more than 65,000 transaction
messages a second. The company’s relentless focus on innovation is
a catalyst for the rapid growth of connected commerce on any
device, and a driving force behind the dream of a cashless future
for everyone, everywhere. As the world moves from analog to
digital, Visa is applying our brand, products, people, network and
scale to reshape the future of commerce. For more information,
visit usa.visa.com/aboutvisa, visacorporate.tumblr.com and
@VisaNews.
About NovoPayment
Miami-based fintech, NovoPayment enables digital financial and
transactional services via a cloud-based, bank-grade platform that
supports varied mass disbursement and collections services. The
company helps banks, financial institutions and others throughout
the Americas to leverage their existing systems and services to
generate new deposits and transaction streams. For more
information, visit novopayment.com and
developer.novopayment.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20180110005769/en/
NovoPaymentJuan Sanchez,
305-372-8695jsanchez@novopayment.com
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