Visa, a pioneer in international digital payments, has become a member of the AWS Partner Network (APN), a worldwide community that uses AWS's initiatives, technologies, knowledge, and resources to create products and services for clients.

Visa will make it easier and more effective for its partners and clients—including cloud-native fintechs—to access and onboard its services by joining APN.

As it works to become the go-to platform for fintechs and financial institutions (FIs) to source cutting-edge digital technologies, Visa's presence on APN is a major win for the network.

Visa: Encouraging international electronic payments

By joining APN, Visa is advancing its goal of making digital payments easier to access globally and facilitating the expansion of its services for the benefit of all participants in the global payments ecosystem.

Along with being a member of APN, Visa will also provide a few payment services on the AWS Marketplace, which now has over 300,000 worldwide users and hundreds of software listings.

Visa Cross-Border Solutions, which supports worldwide trade by holding numerous currencies and streamlining the process of sending and receiving money abroad, is one of the instantaneously available services offered by Visa.

Just seven months have passed since the introduction of Visa Cross-Border Solutions, in partnership with Visa's fully-owned subsidiary Currencycloud, and already it has quickly emerged as one of the company's most sought-after offerings.

"Visa is committed to better serving our clients in cloud environments, which is why we're excited to bring Visa Cross-Border Solutions to the AWS Marketplace," says Vanessa Colella, Global Head of Innovation and Digital Partnerships at Visa.

Our goal is to make our solutions easily available so that users may integrate them across a variety of platforms. This is an additional measure of our wider dedication to lessen obstacles for businesses and financial institutions.

assisting clients that use the cloud

By joining APN, Visa intends to better service its cloud-based clients, who make up a core client base. In order to meet people where they are, Visa has enabled cloud-based businesses to create secure AWS Privatelink access with Visa Cloud Connect. This is feasible because Visa has enabled payment processing over AWS on VisaNet, its worldwide processing network.

By catering to cloud-based clients, Visa is entering a market that is expanding. Cloud-based services help fintechs and financial institutions accelerate service acceptance and implementation while cutting down on data center expenses.

CloudZone, which is also accessible through AWS, cycled through five solutions last month to assist FIs and fintechs in mastering cloud-native services.

Furthermore, current customers like Paymentology perceive Visa's cloud-based services as a game-changer now that they are accessible on APN.

"As a cloud-native card issuer and processor, and one of the first issuer processors in Europe to connect to the Visa Cloud Connect endpoint in the EU, we believe the enablement of Visa services through AWS is a game-changer," says Merusha Naidu, Global Head of Partnerships at Paymentology.

"This collaboration opens the door for improved digital payment options, giving startups the resources they need to innovate and prosper in the current dynamic environment."

After recently announcing a new relationship with Sopra Banking Services (SBS) to change global card issuing services via SBS’ next-generation SBP Digital Core platform, Paymentology now has enhanced access to digital payment solutions.

Additionally, Visa has partnered with Standard Chartered to improve cross-border payments, and the bank is a member of the Visa B2B Connect multilateral payment network. This is in addition to Visa's onboarding of cloud-based services on APN.

"Our engagement in the Visa B2B Connect network - both as a participant and as a settlement bank - is yet another way we are delivering value add to the broader ecosystem as we support corporates on their payments journey," comments Philip Panaino, Global Head of Cash at Standard Chartered, about the deal.

Visa: Assisting new businesses

In fact, Visa's APN integration will benefit more than just its current partners, since it is required under its agreement with AWS to strengthen the latter's worldwide fintech accelerator.

Under the terms of the agreement, fintechs who sign up for Visa's Fintech Fast Track program and are approved by AWS can get up to $100,000 in AWS Activate credits, which can assist accelerate growth and shorten time to market.

"We are excited to support the expansion of digital payments, banking, and embedded finance capabilities to enterprises and fintech startups building their applications on AWS," says Howard Wright, VP and Global Head of Startups at AWS.

"We are excited to collaborate with Visa to help improve the usability, security, speed, and accessibility of cloud-based financial apps."