Partnering with an existing Visa client licensee to sponsor your programme can provide you with a quick simple method to gaining access to Visaâs network and systems for your programme to begin distributing Visa accounts.
Here are some important details to consider on how to partner. Firstly, a Programme Sponsor is a client of Visa with a licence and rights to issue accounts or acquire transactions in one or more markets with responsibility for providing access to the VISA network, transaction settlement obligations and for other regulatory compliance. They are also responsible for the submission, approval and compliance of any of their programmes through the Visa network.
Within Asia Pacific, a programme sponsor may include non-financial institutions but is typically domiciled in the country for which it is sponsoring programmes with partners. I.e. a partner wishing to distribute Visa accounts in Singapore would have a Programme Sponsor domiciled in Singapore to ensure they can meet local regulatory requirements.
Programme Sponsorship addresses organisations who wish to run their own card programmes, but do not have the need to become a full licensed Visa client licensee.
Identifying the most appropriate programme sponsor to complement and support your business plans requires a deliberate approach with the following considerations to begin with;
- Do the strategic goals of the organisation align to your own?
- What technical and operational capabilities exist to support your programmes functional requirements?
- What existing relationships do they have to complement your business priorities?
- How easily would it be to develop a commercial relationship?
- Do they have a suitable track record?
To find out more about Programme Sponsorship, contact Visa