Launch end-to-end payment solutions with Visa Ready to Launch
VRTL is the first of its kind plug and play end-to-end payment issuance platform which effectively bundles products and services for fintech to swiftly and seamlessly launch new payment programs.
The fintech and digital payment space has seen tremendous growth in the last demi-decade (especially post pandemic) with the new-age startups bringing to life innovative use-cases and payment solutions. The number of new startups around the world more than doubled from 2019 to 20211 with the Middle East and Africa region already home to more than 2,800 fintech solutions2. Fintech’s are boosting the digital payment ecosystem, empowering innovation & growth and driving financial inclusion, all of which are key priorities for Visa.
Challenges to launch
Despite the boom in this space, navigating the payment ecosystem and launching new solutions remains challenging: technological, operational and commercial enablement are still difficult to achieve as the enablement landscape remains fragmented. Navigating and solving for these challenges requires partnerships and integrations with multiple ecosystem players and enablers including bank sponsors, issuer processors, KYC/Identity and AML specialists, which takes time and involves complexity.
The answer - Visa Ready to Launch (VRTL)
Based on experience gained from enabling fintech solutions over the last few years, Visa has been focusing on improving Fintech’s ability to launch rapid end-to-end payment solutions. As a result, we are launching ‘Visa Ready to Launch program (VRTL) in conjunction with selected payment enablers. VRTL is the first of its kind plug and play end-to-end payment issuance platform which effectively bundles products and services for fintech to swiftly and seamlessly launch new payment programs.
In addition to delivering end-to-end card issuance and processing capabilities, VRTL bundles key product features like Visa Advanced Authorization & Visa Risk Manager, Visa Cardholder Authentication Service, Anti-Money Laundering (AML) and Know Your Customer (KYC) capabilities for a full stack offering.
VRTL covers the full lifecycle of client onboarding including business analysis, project management, due diligence, and day-to-day running of the program, so Fintech can focus on sales, marketing, distribution and cardholder servicing.
This ‘One Contract’, ‘One Pricing’ & ‘One Integration’ (One & Done) approach transforms the entire process and significantly reduces go to market timelines for Fintechs, leaving more time and capacity for Fintechs to focus on other priorities required for launch.
VRTL is a clear example of how we can align our resources to support the growing Fintech sector and help them reach their goals. As a world leader in digital payments, Visa has the infrastructure and knowledge in place to facilitate transactions between consumers, merchants, financial institutions, and government entities around the world.
The VRTL program is now available in the UAE, Egypt and Pakistan and will be expanded to other countries within the Central & Eastern Europe, Middle East, and Africa (CEMEA) region in the future.
For more information, you can reach out to:
Alex McCrea, Vice President Digital Partnerships, Fintech & Ventures [email protected]
Koushik Iyer, Head of Strategic Enablers [email protected]
1BCG (Fintech Control Tower). (November 8, 2021). Number of fintech startups worldwide from 2018 to 2021, by region [Graph]. In Statista. Retrieved September 27, 2022, from https://www.statista.com/statistics/893954/number-fintech-startups-by-region/