Fintech company GreenBox POS has joined Visa’s Fintech Fast Track programme to accelerate its process of integration with the card payment major.
By joining the programme, the fintech will be able to leverage reach, capabilities, and security of Visa’s global payment network, VisaNet.
Additionally, GreenBox will leverage this association to launch a co-branded Visa card and facilitate direct push-to-card payments.
GreenBox, which works as a private and proprietary blockchain payment platform, provides security and data privacy. It also offers fraud protection and rapid speed to settlement.
Its blockchain technology serves as a settlement engine for financial transactions. It is also a distributed ledger that verifies, secures and records details of every transactions carried out within GreenBox’s private ecosystem, levering digitally encrypted keys.
Commenting on the partnership, GreenBox POS CEO Fredi Nisan said: “Our partnership with Visa marks another important step aligned with our goal to help move society towards cashless, secure payments where digital currency can be moved anywhere at any time.
“Being able to issue payment credentials and send near real-time payments across the Visa network significantly enhances our payment solutions offering.”
Visa senior vice-president and global head of fintech Terry Angelos said: “By joining Visa’s Fast Track program, exciting Fintechs like GreenBox POS gain extraordinary access to Visa experts, technology, and resources.
“Fast Track lets us provide new resources that rapidly growing companies need to scale with efficiency.”
Last May, GreenBox POS enabled its scheduled expansion to the Pay-In options into its blockchain ledger ecosystem.
Visa’s Fintech Fast Track programme aims to provide fintechs with access to its growing partner network, enabling them to offer ‘innovative payment experiences’.
Last September, online payments processor Checkbook joined Visa’s Fintech Fast Track programme and rolled out its Virtual Cards for real-time payments.