DUBAI: Visa (NYSE: V) on Wednesday announced Euronet Worldwide, a leading global financial technology solutions and payments provider based in Dubai, is working with Visa to augment Visa’s fintech fast-track programme in the Central and Eastern Europe, Middle East and Africa (CEMEA) region.
The fast track programme makes it quicker and easier for fintech partners to build and deliver new commerce experiences on Visa’s payments network and Euronet Worldwide will offer their APIs through Visa’s programme, thus benefiting capabilities available to regional fintechs.
Euronet Worldwide has substantially invested into Payment as a Service (PaaS) powered by its Digitally Integrated Payment Cloud (DIPC) to bring benefits of convenience, security, and quick go-to-market capabilities to fintechs as an on-demand partner. The Middle East arm of Euronet’s microservices-based platform has native cloud APIs, providing the flexibility to produce geographically tailored payment experiences. By providing these APIs through the Visa fintech fast-track, the two companies will work together to speed up digital payment capabilities of regional fintechs.
“Partnerships are fundamental to Visa’s business model and partnering with Euronet is another example of how collaboration will ultimately help our traditional and fintech clients deliver improved customer experiences faster and easier than ever,” said Otto Williams, Vice President and Head of Strategic Partnerships, Fintechs and Ventures in CEMEA at Visa. “We are looking forward to building out the capabilities that we can offer to fintechs and together drive the expansion of a digitally connected payments ecosystem.”
“Euronet is thrilled to partner with Visa on this initiative to empower fintech companies with critical payments solutions,” said Mohamed Mousa, Managing Director, Euronet for Middle East, Africa, and Pakistan. “Euronet’s industry-leading digital processing platform, based on a full stack of open APIs and microservices, is backed by an established global footprint and delivers an ideal foundation for fintechs to get to market quickly and successfully.”
The Visa fintech fast-track programme makes it easier for fintechs to access the global Visa payments network. The programme is part of Visa’s global strategy to open up our network and support a broad range of players that are developing new commerce experiences. The fintech fast-track programme provides a new commercial framework that includes eased access to Visa’s payment capabilities and streamlined processes to support companies of different sizes and at different growth phases.
Euronet Worldwide is a leading global financial technology solutions and payments provider. Founded in 1994, the company offers payment and transaction processing solutions to financial institutions, retailers, service providers and individual consumers. These services include comprehensive ATM, POS and card outsourcing services, card issuing and merchant acquiring services, software solutions, cash-based and online-initiated consumer-to-consumer and business-to-business money transfer services, electronic distribution of digital media and prepaid mobile phone time and other cloud-based financial technology solutions.
Euronet’s global payment network is extensive – including 47,209 ATMs, approximately 305,000 EFT-POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 54 countries; card software solutions; a prepaid processing network of approximately 710,000 POS terminals at approximately 329,000 retailer locations in 52 countries; and a global money transfer network of approximately 389,000 locations serving 161 countries.
With corporate headquarters in Leawood, Kansas, USA, and 65 worldwide offices, Euronet serves clients in approximately 170 countries.