Visa launches Fast Track in the US
Visa announced the expansion of its Fast Track program to the United States in conjunction with a large and growing network of partners. By launching Fast Track in the US, Visa says is continuing its support for fintechs across the globe, ‘with the goal of accelerating the growth of digital payments and creating better ways to move money everywhere’.
Fast Track aims to speed up the process of integrating with Visa, to allow nimble startups the ability to more easily leverage the reach, capabilities, and security VisaNet, the company’s global payment network, offers, thereby helping fintechs scale more quickly.
Fast Track is possible in the US thanks to collaborations with leading companies who provide services across the payments spectrum – from card issuance, to push payments integration, to Payment Card Industry (PCI) Compliance, as well as Know Your Customer (KYC) and Anti-Money Laundering (AML) support. Visa is launching Fast Track in the US in collaboration with Alloy, BBVA Open Platform, Cross River Bank, Galileo, Green Dot, Marqeta, Netspend (TSYS’ Consumer Segment), Stripe, TabaPay, TSYS, Q2, and Very Good Security. Visa DPS will also support certain partners’ participation in the program.
Last year, venture capital-backed fintechs raised a record $39.6 billion from investors globally, up 120% from the previous year. As part of the launch of Fast Track in the US, Visa is working with leading venture capital firms to automatically qualify their portfolio companies into the US Fast Track program. Some of these early partners include Andreessen Horowitz, Nyca Partners, Ribbit Capital, and Trinity Ventures.
Visa’s Fast Track program is already available in Europe, Africa, the Middle East, Latin America and Asia Pacific.
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