Embedded finance platform Railsbank has partnered with digital payments provider Visa to enable fintech firms in Singapore to improve their services to customers. Through the Visa Ready Banking Identification Number (BIN) sponsor programme, Railsbank's clients gain access to the same global payment technology, expertise and revenue opportunities as they would if they were a direct card issuer with Visa.
The initiative allows Railsbank to expand its market portfolios and become a go-to partner for fintechs as they build and launch their card programmes in the country. Partnering with Railsbank also provides fintechs the solutions and expertise they need to get up and running with speed and efficiency.
Railsbank is also a Visa Fintech Fast Track partner, enabling fintech companies to gain access to Visa’s network. The programme is part of Visa’s global strategy to open up its network and support a broad range of players that are developing new commerce experiences.
Railsbank co-founder and chief executive officer Nigel Verdon says: “Our partnership with Visa gives us the opportunity to provide companies with a broad range of Visa payment solutions, such as Cards-as-a-Service, that meet the identified needs of their users. Railsbank simplifies the process of embedding financial services into a customer journey and can therefore help any company – no matter what industry or sector they’re in – to become a fintech by adapting to the needs of their market and customers quickly and easily.”