Visa is partnering with cloud-based enabler of digital financial and transactional services, NovoPayment, to bring payment solutions for Business to Business (B2B) transactions in Latin America and the Caribbean.
The three key B2B areas this partnership will focus on are solutions for the business traveler, solutions for accounts payables and receivables; and accelerating Visa’s bank clients go-to-market strategies.
Visa announced that the partnership’s first project was launched in Colombia. Under this project, Visa, NovoPayment and a local bank are using APIs to enable real-time payments in the urban delivery sector of the country.
Over the course of the year, more and more projects like this will launch in the Latin American and Caribbean region.
In a statement released yesterday, Allen Cueli, Visa’s vice president of product solutions and new enablers, said:
Through our open collaboration strategy, we partner with fintechs in the region to accelerate the adoption of new technological capabilities that complement our payment functionalities and those of our bank and merchant partners…This is the first initiative resulting from a broader partnership with NovoPayment, focused on the deployment of a number of projects including prepaid enablement, API integration as well as B2B solutions.
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