Skyscend Inc., an SaaS platform provider for supply chain finance, announced that it has joined Visa’s Fintech Fast Track Program, speeding up the process of integrating with Visa, “allowing Skyscend to more easily leverage the reach, capabilities, and security that VisaNet, the company’s global payment network, offers.”
Through the Visa Fintech Fast Track Program, Skyscend is now able “to expand its offerings and provide faster, more secure and streamlined payments to its customers.”
Skyscend will be able “to use the Visa Fintech Fast Track Program to automate B2B payments by introducing secure and simple-to-use virtual card payments.”
This initiative will “help reduce the risk and workload involved in transferring funds from Skyscend Capital, Skyscend Inc.’s finance arm, to a customer’s bank account.” As virtual cards can be tracked and reissued if they expire prior to use, customers recognize it “as a more secure and faster method of payment receipt.”
Skyscend will also “be able to simplify international payments with Visa by utilizing Skyscend Cash, a digital wallet for peer-to-peer payments, to meet growing client preferences for personal finance.”
Businesses and consumers will now “have access to cutting-edge payment tools that can help make their lives easier.”
Visa’s Fintech Fast Track Program “provides fintech start-ups like Skyscend the ability to access Visa’s growing partner network, and experts who can provide guidance in helping them get up and running in the most efficient way possible.”
Skyscend CEO David Sulfridge stated:
“We are thrilled to join the elite group of start-ups in the Fintech Fast Track Program. Acceptance into the Visa Fintech Fast Track signals Visa’s support of Skyscend and thereby serves to strengthen our customers’ trust in our solutions. Our participation in the Visa Fintech Fast Program enables us to modify several closed-loop systems limited to specific geographies in the B2B and P2P payment space. With Visa we now have the right partners and resources to provide businesses and consumers with the best digital payment solutions.”
Vanessa Colella, SVP and Global Head of Innovation and Digital Partnerships at Visa, commented:
“At Visa, we see our work with fintechs like Skyscend as one of our greatest opportunities. By joining Visa’s Fast Track Program, Skyscend can gain unprecedented access to Visa experts, technology, and resources to efficiently scale and bring innovative solutions to market.”
As noted in the update, Skyscend explains that it “offers cloud-based invoicing and payables financing management solutions to buying organizations worldwide.”
Major international organizations have “relied on this technology to streamline their accounts payable process and maximize working capital, turning their accounts payable into profits.”
It empowers the buying organizations “to provide their suppliers with early payments, electronic invoicing, and low-cost financing options.”
Skyscend is “headquartered in Atlanta, GA and has offices in Canada and India.”
