Visa has partnered with Mintoak to help Asia Pacific acquirers offer merchants more than payment acceptance.
The partnership will give banks and financial institutions access to a digital platform that combines in-store and online payments with reporting, data insights, merchant engagement tools and integrated banking services.
Visa will contribute its payments network, data and advisory capabilities, while Mintoak will provide its cloud-native, API-led platform.
The platform is expected to help acquirers launch services faster, improve merchant activation and generate revenue from additional offerings.
Mintoak’s platform gives merchants one place to manage payment acceptance, access business insights and handle service needs.
It can be integrated with an acquirer’s existing systems, allowing acquirers to retain ownership of their merchant relationships.
Prateek Sanghi, Head of Visa Consulting & Analytics for Asia Pacific, said,
“Acquirers play a critical role in the payments ecosystem, but the expectations of merchants are evolving rapidly.
By partnering with Mintoak, we are empowering acquirers with modular, software-led capabilities that support deeper merchant engagement, more efficient servicing and sustainable, long-term growth.”
Raman Khanduja, Co-founder and CEO of Mintoak, added,
“By building on the foundation of payments with platform-led engagement, we are enabling acquirers to strengthen competitiveness, enhance merchant lifetime value and unlock new avenues for growth in the SME segment.”
The collaboration also supports Visa’s efforts to expand card and digital payment acceptance among underpenetrated SMEs across Asia Pacific.
It aims to speed up and lower the cost of onboarding, expand payment acceptance and help acquirers respond to margin pressure and rising service expectations.
Featured image: Edited by Fintech News Singapore, based on image by user23413193 via Magnific
