Railsbank and Visa Partner to Drive Fintech Enablement in Singapore
Leading global embedded finance platform, Railsbank, and the world’s leader in digital payments, Visa are partnering to drive local fintech enablement, with Railsbank coming on board as a Visa Ready Banking Identification Number (BIN) sponsor.
Through the BIN sponsor programme, all of 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. This initiative allows Railsbank to expand their 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.
Nigel Verdon, CEO and Co-founder, Railsbank, said: “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.”
Kunal Chatterjee, Visa Country Manager for Singapore & Brunei said, “At Visa, we are focused on engaging and building strategic partnerships with the Fintech community. We’re extremely pleased to have Railsbank join us as an exclusive issuer in Singapore, and Banking Identification Number (BIN) sponsor. Our collaboration with Railbank and the BIN sponsorship arrangement is beneficial for Fintechs as it accelerates the onboarding journey with Visa. We are looking forward to seeing more Fintechs benefit from this partnership with Railsbank as we continue to drive innovation and support the launch of products and solutions that transform the payment experiences of consumers in Singapore.”
Railsbank is a global leader in embedded finance, empowering a company, or a brand, to easily prototype, build and scale any financial use case. Its customers use Railsbank’s super simple APIs as building blocks to deliver exciting products for their own end users, including apps that help manage and distribute money in real-time, reflecting the needs of the 21st Century financial consumer.
Railsbank’s innovative products have been developed out of its powerful core finance platform and include Banking-as-a-Service and Cards-as-a-Service.
The Railsbank ethos is that beneficial financial services should be for everyone, not just the few.
Railsbank was founded by fintech veterans Nigel Verdon (CEO) and Clive Mitchell (Head of Growth) in 2016.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit www.visa.com.sg