Visa Launches New All-In-One Payments Platform with a Consortium of Major Playersby Fintechnews Singapore June 3, 2019
Today, a consortium of major companies have launched b.yond, a financial innovation platform that will let banks and consumer-facing businesses rapidly deploy a range of innovative fintech payment services.
The consortium consists of Visa, Global Processing Services, Pannovate, Cornercard, Modulr, AllPay, Meawallet and W2 Global,
Businesses wanting to launch a payments programme can use b.yond to access a financial technology platform of high-quality, innovative payment solutions using Visa’s rails, which they can deploy for customers in less than 8 weeks.
As a platform, b.yond aims to reduce the complexities of launching a payment programme and having to deal with multiple stakeholders in the payments ecosystem.
With one contract from b.yond, businesses will have everything required to launch a payments solution: from onboarding and KYC , P2P transfers, card control, Agency Banking, physical or virtual cards, visualisation of statements/spending and alert notification – with Multi-FX, account load, Multi-language, chat support, rewards and cash-back, saving pots, tokenisation.
According to their press statement b.yond can potentially level the playing field for new entrants within the fintech and digital banking space, as it allows for the to deploy their product offering more quickly and economically.