Visa has expanded its FinTech Fast Track programme to allow companies to connect to its real-time money movement platform, Visa Direct.

The scheme, first launched in 2019, enables FinTechs to launch services through their financial institutions to enable transfers to eligible cards, bank accounts, and wallets around the world.

Companies taking part in the programme can also work with Visa’s consulting and analytics team to grow their portfolio. They will also have access to up to $100,000 worth of Amazon Web Services Activate credits for cloud consumption, business support, and personalised content and offers.

Visa said that around 42 companies have signed up to the scheme over the past 12 months.

“FinTechs are a vital growth engine for the payments industry, and Visa is committed to supporting their progress,” said Vanessa Colella, SVP, global head of innovation and digital partnerships at Visa. “The enhanced Fast Track program offers FinTechs personalised tools and resources to innovate and excel. We believe this will be a gamechanger that will catalyse new growth opportunities within this community, and further our mission to uplift everyone, everywhere.

“Our portfolio of FinTech partners is diverse and continues to expand. This generation of FinTechs is addressing challenges and pain points for specific groups, professions, and online communities, and designing tools to bridge the gaps in the payment ecosystem.”

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