Swiss Fintech Klarpay gets Visa Principal membership
Klarpay AG, a financial institution that accepts deposits authorized by the Swiss Financial Markets Authority (FINMA), is now a major member of the Visa network.
Klarpay announced the development on Wednesday in a press release.
Financial institutions that become the main member of the Visa network are usually larger institutions that have experience with risk guarantee, credit management, invoicing of customers and collection of payments.
In addition, companies that become main members can, among other things, issue cards, pay out cash, acquire dealers and hold settlement risk.
Klarpay’s main membership status will give it access to the global payment giant’s bank-to-bank cross-border business transaction network.
It will also enable the Swiss fintech company to support direct card issuance.
Klarpay said in the statement that their membership demonstrates their commitment to delivering first-class services to its growing customer base.
“Direct membership of the Visa Network provides Klarpay’s merchants with a fast, easy and integrated way to manage their funds and execute their daily cross-border transactions,” Klarpay explained in the statement.
Payment in Central Europe
According to Klarpay, Visa Principal membership is an addition to the fintech company’s Level 1 Payment Card Industry Data Security Standard (PCI DSS) certification.
PCI DSS is a series of compliance standards that aims to ensure that all companies that process, store or transfer credit card information maintain a secure environment.
Klarpay said that Level 1 PCI DSS helps maintain quality, transparency and strengthen payment security systems.
Klarpay’s CEO, Martynas Bieliauskas, noted that achieving Visa Principal membership has been a major goal for Klarplay since its launch three years ago.
Furthermore, Bieliauskas said that membership will enable the company to absorb the growing demand for flexible, scalable and accessible payment, banking and digital payment solutions.
“As the first FINMA – licensed Swiss fintech to work exclusively with e-commerce retailers, digital entrepreneurs and social media influencers, Klarpay seeks to strengthen online businesses through global, scalable payment acceptance and remittance solutions,” explained Bieliauskas.
Santosh Ritter, Country Manager for Visa Switzerland and Liechtenstein, believes that Klarpay’s Visa Principal membership will enable it to offer a business-to-business connectivity solution for the first time in Central Europe.
“As part of our fintech commitment, we give Klarpay access to our worldwide Visa network so they can further strengthen digital businesses and innovative customer experiences,” said Ritter.
Klarpay AG, a financial institution that accepts deposits authorized by the Swiss Financial Markets Authority (FINMA), is now a major member of the Visa network.
Klarpay announced the development on Wednesday in a press release.
Financial institutions that become the main member of the Visa network are usually larger institutions that have experience with risk guarantee, credit management, invoicing of customers and collection of payments.
In addition, companies that become main members can, among other things, issue cards, pay out cash, acquire dealers and hold settlement risk.
Klarpay’s main membership status will give it access to the global payment giant’s bank-to-bank cross-border business transaction network.
It will also enable the Swiss fintech company to support direct card issuance.
Klarpay said in the statement that their membership demonstrates their commitment to delivering first-class services to its growing customer base.
“Direct membership of the Visa Network provides Klarpay’s merchants with a fast, easy and integrated way to manage their funds and execute their daily cross-border transactions,” Klarpay explained in the statement.
Payment in Central Europe
According to Klarpay, Visa Principal membership is an addition to the fintech company’s Level 1 Payment Card Industry Data Security Standard (PCI DSS) certification.
PCI DSS is a series of compliance standards that aims to ensure that all companies that process, store or transfer credit card information maintain a secure environment.
Klarpay said that Level 1 PCI DSS helps maintain quality, transparency and strengthen payment security systems.
Klarpay’s CEO, Martynas Bieliauskas, noted that achieving Visa Principal membership has been a major goal for Klarplay since its launch three years ago.
Furthermore, Bieliauskas said that membership will enable the company to absorb the growing demand for flexible, scalable and accessible payment, banking and digital payment solutions.
“As the first FINMA – licensed Swiss fintech to work exclusively with e-commerce retailers, digital entrepreneurs and social media influencers, Klarpay seeks to strengthen online businesses through global, scalable payment acceptance and remittance solutions,” explained Bieliauskas.
Santosh Ritter, Country Manager for Visa Switzerland and Liechtenstein, believes that Klarpay’s Visa Principal membership will enable it to offer a business-to-business connectivity solution for the first time in Central Europe.
“As part of our fintech commitment, we give Klarpay access to our worldwide Visa network so they can further strengthen digital businesses and innovative customer experiences,” said Ritter.
