Contis Group, an alternative banking, payments and processing provider, has partnered with Visa on the Fintech fast track program designed to provide Fintechs with access to payment card and banking capabilities while reducing client on-boarding times.
Commencing in July, the program will initially focus upon UK-based start-ups, providing access to contactless Visa debit and prepaid cards and current accounts with IBAN, Faster Payments and Direct Debit functionality. Following the UK, the program will expand across Europe. The program is described as removing barriers faced by startups and will enable businesses to test new concepts in a secure and fully API-configurable environment supported by Contis’ Know Your Customer (KYC) protocols and customer service.
Flavia Alzetta, CEO of Contis said that in a world being reshaped by technology it is important that key parties remove friction that stifles disruption in the financial sector.
“We are delighted to partner with Visa to launch an initiative that will not only foster competition but also create an environment that fuels innovation and has the potential to support the growth of the next generation of financial services providers.”
Bill Gajda, SVP Innovation & Strategic Partnerships, Europe at Visa, added that their Fintech program is seeking to help early stage startups gain rapid access to Visa’s global network.
“At Visa we are open for all players to take advantage of the reach, capabilities and security of our network to grow their businesses. Our commitment is to be the most responsive and supportive network for both emerging payment players and our existing clients and partners.”