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December 4, 2019

NovoPayment and Visa to expedite adoption of digital payments in Latin America

Visa has further strengthened its partnership with NovoPayment to enable financial organisations and merchants to implement its digital solutions in the Caribbean and Latin American markets.

Concurrently, Visa made a strategic investment in digital financial services provider NovoPayment.

Working together over the last two years, the partners have achieved a significant scale in the digitisation of payments across the region.

Together, they provided apps with multi-functional capabilities for issuers, merchants and acquirer. It helps them d to quickly deploy Visa’s real-time payments solution Visa Direct and Visa Token Services.

Additionally, the duo supported business-to-business payments in countries such as Colombia as well as Mexico.

NovoPayment co-founder and CEO Anabel Perez said: “We’re delighted to see that our shared vision for success is being realised, by expanding our partnership with Visa in such a way. It’s a testament of our proven enablement model and commitment to collaboration.”

Visa Latin America and the Caribbean vice president of digital partnerships, fintech and ventures Arnoldo Reyes said: “At Visa we continue to work with platform partners to accelerate the integration of new fintech players interested in launching Visa technologies like Visa Token Service, Visa Direct, Virtual Cards, and many others.

“NovoPayment will be a key partner for our Fintech Fast Track programme, helping speed-up the time it takes for these new players to start working with Visa and most importantly accelerate the time-to-market of their solutions.”

Using its modular API delivery model, NovoPayment supports quick adoption of key Visa solutions by incorporating them into new use cases including instant card issuance and disbursements and digital account origination in 12 markets across the Americas.

In September this year, NovoPayment reached an agreement with Visa to use the latter’s capabilities and APIs to expand digital payments services in Latin America and the Caribbean islands.

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