Visa, the worldwide chief in funds know-how, at the moment introduced the onboarding of LivQuik, the Future Group-backed funds know-how firm by way of Visa’s Fintech Fastrack Program in India.
The Visa Fintech Fastrack Program makes it simpler for fintech to entry the worldwide Visa funds community. This system is a part of Visa’s international technique to open its community and assist a broad vary of gamers which can be creating new commerce experiences. The fintech fast-track program offers a brand new industrial framework that features eased entry to Visa’s cost capabilities and streamlined processes to assist firms of various sizes and at completely different progress phases.
An RBI-approved pay as you go cost issuer (PPI) and Full-Fledged Cash Changer (FFMC), LivQuik presents cost gateway and enterprise fintech software program growth providers and has been managing the Future Pay platform. This partnership between the 2 firms will allow LivQuik to challenge Visa Pay as you go credentials, course of Visa Direct transactions for overseas inward remittance and allow different fintech to challenge co-branded Visa Pay as you go Playing cards.
TR Ramachandran, Group Nation Supervisor, India and South Asia, Visa stated, “Fintechs such as LivQuik will play a critical role in improving financial access in India. LivQuik’s foray into the issuance of Visa prepaid cards will provide a platform for multiple use-cases for both consumer and business users. We are delighted to welcome LivQuik to the Visa network and look forward to supporting their efforts to enable new experiences in payments.”
LivQuik may also work with Visa in the direction of creating omni-commerce options utilizing tokenization.
In the meantime, LivQuik’s CEO Mohit Lalvani stated, “In a post-COVID world, consumer’s payment behaviour is going to evolve significantly and we will work closely with Visa and Future Group to enhance the shopping experience. While this partnership is an endorsement to the company for the innovative work done in the fintech space, we are confident that it will also enable us to significantly expand our product and solution offerings.”
Commenting on the partnership, Kishore Biyani, Founder, Future Group stated “LivQuik has been a key enabler and catalyst for our Future Pay platform across our brands for payments at retail stores. Visa’s global digital payments technology and expertise with the agility of LivQuik will further build this transformation journey for the payments ecosystem in the consumer business.”