The partnership will enable Quisitive’s payment processing platform PayiQ to directly access VisaNet, allowing expanded payment processing capabilities.
Cybersource’s acquiring solutions along with PayiQ’s suite of automated management tools and settlement management are expected to offer an integrated payment solution.
As per the deal, PayiQ will create a distribution channel of independent software vendors (ISVs) who can connect directly to Visa. This will let acquiring banks to use Visa’s network and processing services, avoiding the need for third-party payment processors.
PayiQ will join the list of partner payment processors to support ISVs with settlement processes.
The partnership will also ensure migration of BankCard USA merchants to the PayiQ platform.
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Quisitive Global Payments Solutions president Jana Schmidt said: “We are excited to be able to partner with Cybersource to deliver a new, cloud-enabled processing solution that transforms what has been a host of slow, manual management processes to a 21st century level of automation.
“This infrastructure is just the start of a collaboration that will continue to support innovative products and services while driving new verticals, new geographies, and new technologies.”
With a scalable management dashboard, PayiQ platform supports resellers by simplifying conventional back-office operations.
The solution also provides automated onboarding and underwriting for same-day merchant identifications. It offers direct control over pricing, automated chargeback management and instant access to merchant data.