Visa has launched b.yond to accelerate fintech innovation across businesses, banks and other brands.
Visa, together with companies including Global Processing Services, Pannovate, Cornercard, Modulr, AllPay, Meawallet and W2 Global have joined for this project.
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b.yond is a financial innovation platform. It will allow banks and businesses with a consumer focus to rapidly deploy a range of innovative fintech payment services.
The service and innovation of financial organisations is becoming more important to consumers than ever before. They rightly demand quick, secure and tailored services.
b.yond is launching to address the challenges that some business and banks face when trying to deliver the desired service. By using the platform, businesses can focus their drive on customer loyalty and engagement.
Furthermore, if businesses want to launch a payments programme they can use b.yond to access a financial technology platform. They will find innovative payment solutions using Visa’s rails.
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By GlobalDataThis can then deploy for customers in less than 8 weeks.
b.yond platform
The platform additionally aims to reduce the difficulties of launching a payments programme.
Joining up with platform, businesses will have everything required to launch a payments solution.
The contract will include:
- On-boarding
- KYC (Know Your Customer),
- P2P transfers,
- Card control,
- Agency Banking,
- Visualisation of statements/spending and alert notification
- Saving pots,
- Tokenisation, and more to follow shortly.
Head of Fintech at Visa, Smriti Vicari stated: “At Visa we believe in the power of partnership to bring the best possible solutions to both emerging payment players and our existing clients and partners.
“The launch of b.yond is another big step towards enabling our clients to gain rapid access to the capabilities that lie within Visa’s global network to power their own ideas.”
Co-founder of b.yond and leading the consortium, Neil Harris, added: “b.yond is breaking the mould with its consortium of industry leading companies who are coming together to drive fintech innovation to a new level of simplicity and speed.
“The project has been all about collaboration-led innovation. With an established list of other leading companies wanting to join the consortium, we expect the initial propositions to grow exponentially as we onboard new organisations and regions.”
