Germany-based global provider of digital payments and commerce solutions Wirecard announced on Monday it has joined forces with Visa to be the preferred payment processor for Visa as a way to boost the Visa Fintech Fast Track Program in the Middle East region.
According to Wirecard, 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 further reported that as a new partnership it 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.
“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.”
Speaking about the partnership, Otto Williams, Vice President, Strategic Partnerships, Fintech and Ventures, CEMEA at Visa, stated that 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. Williams added:
“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.”