Skyscend works with Visa on payments
Skyscend has joined Visa’s Fintech Fast Track program.
The software-as-a-service (SaaS) platform provider for supply chain finance said in a press release on Tuesday (December 20) that the move will enable it to expand its offerings and provide customers with faster, more secure and streamlined payments.
“Our participation in the Visa Fintech Fast Track program enables us to modify multiple closed-loop systems limited to specific geographies in the B2B and P2P payments space,” Skyscend CEO David Sulfridge said in the release. “With Visa, we now have the right partners and resources to provide businesses and consumers with the best digital payment solutions.”
The Visa Fintech Fast Track program gives FinTech startups access to Visa’s partner network and experts who can help them get off the ground, according to the press release.
For Skyscend, participating in the program makes it faster to integrate with Visa and leverage the reach, capabilities and security of the company’s global payment network, the release said.
With this program, Skyscend will automate B2B payments by introducing virtual card payments thereby reducing the risk and workload involved in transferring funds from the firm’s finance arm, Skyscend Capital, to customers, according to the release.
By integrating with Visa, the firm will also be able to use its digital wallet for peer-to-peer (P2P) payments, Skyscend Cash, to facilitate international payments, according to the press release.
“At Visa, we see our work with FinTechs like Skyscend as one of our biggest opportunities,” Vanessa Colella, senior vice president and global head of innovation and digital partnerships at Visa, said in the release. “By joining Visa’s Fast Track program, Skyscend can gain unprecedented access to Visa expertise, technology and resources to effectively scale and bring innovative solutions to market.”
In another recent collaboration, card issuance and management platform Highnote said on August 30 that it had been fully certified as a Visa issuer processor and would join the Visa Fintech Fast Track program as an enabler in the US market.
As part of the program, Highnote can use its GraphQL API platform combined with program management, money movement and issuer processing services to help digital businesses rapidly deploy differentiated card programs, the company said at the time.
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