Railsbank, an established global embedded finance solution provider, and Visa (NYSE: V) are joining forces to promote local Fintech services, with Railsbank becoming a Visa Ready Banking Identification Number (BIN) sponsor. This, according to an update shared by Finextra.
Through the BIN sponsor program, all of Railsbank‘s customers will be able to access the same international payment tech, expertise and revenue-generating opportunities as they could had they been working as a direct card issuer with Visa.
This program enables Railsbank to further expand its existing market portfolios while serving as a key partner for Fintech companies as they introduce their card program across the country. Teaming up with Railsbank also offers Fintech firms the services and industry know-how they require to get up and running with great efficiency.
Railsbank is also a Visa Fintech Fast Track partner, allowing Fintechs to easily gain access to Visa’s global network. The initiative is part of the payment giant’s international strategy to open up its network and support key players that are creating innovative commerce solutions.
Nigel Verdon, CEO and Co-founder, Railsbank, remarked:
“Our partnership with Visa gives us the opportunity to provide companies with a broad range of Visa payment solutions, such as Cards-as-a-Service, that meet the identified needs of their users. Railsbank simplifies the process of embedding financial services into a customer journey and can therefore help any company – no matter what industry or sector they’re in – to become a fintech by adapting to the needs of their market and customers quickly and easily.”
Kunal Chatterjee, Visa Country Manager for Singapore and Brunei stated:
“At Visa, we are focused on engaging and building strategic partnerships with the Fintech community. We’re extremely pleased to have Railsbank join us as an exclusive issuer in Singapore, and Banking Identification Number (BIN) sponsor. Our collaboration with Railsbank and the BIN sponsorship arrangement is beneficial for Fintechs as it accelerates the onboarding journey with Visa. We are looking forward to seeing more Fintechs benefit from this partnership with Railsbank as we continue to drive innovation and support the launch of products and solutions that transform the payment experiences of consumers in Singapore.”