The partnership will allow Volopay to start issuing their own Visa cards to their customers in the APAC market
Volopay, a Y Combinator-backed corporate cards and payable management company has been hitting all the greenlights in 2022. Post the company’s Series A announcement and with the India launch gearing up at its debut line, Volopay has now partnered with Visa’s Fintech Fast Track Program to offer financial management solutions.
Visa’s Partner program is a major step up in the fintech industry, giving Volopay a fresh competitive edge. The partnership program was founded by Visa in order to support innovative financial services and solutions. Given that Volopay’s idea meets their program requirements, the Fast Track program allows Volopay to start issuing their own Visa cards to their client businesses in the APAC.
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Commenting on the development, Mr. Rajith Shaji, CEO and Co-founder of Volopay, said, “The partnership with Visa’s Fintech Fast Track Program gives us an edge that we haven’t had before. The ability to issue our own cards sets us apart from other fintech providers who are merely distributing cards. This way, we will have full control over the product we provide to our clients.”
Visa has always been and continues to be, a respected name in the financial industry. It is no surprise that Volopay wishes to become part of a program that empowers budding financial entrepreneurs and their initiatives. The program is not just a licence to issue Visa cards but a gateway for Volopay into a thriving financial ecosystem that supports the growth of financial infrastructure in different markets of the world. The program also grants Volopay the access to a fair share of guidance, credibility, and establishment aid.
“Our intention is to keep moving up the value chain, and the Visa program allows us to do that. There are multiple markets that allow non-banks to issue cards. With our own card, we are able to create a rounded financial stack to offer our customers. It is an unparalleled mark of credibility,” says Rohit Bhageria, Founding Member, Volopay.
With two major global markets underway, it was only time before they shifted from third-party card issuing services and received a license to issue their own corporate cards in their biggest markets. In fact, Volopay happens to be one of the few companies in the APAC region with the ability to do this, making their offering a one-of-a-kind opportunity for Singaporean and Australian businesses to leverage.
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The partnership puts Volopay at a different starting line, one further ahead than many of its competitors. This level of credibility gives the company a visibility and networking opportunities that are otherwise difficult to obtain for startups in their early stages. While many fintech companies wait years to become part of these big leagues, Volopay joining the Visa Fast Track Program highlights it as a rapidly growing fintech provider with a bright future ahead.
This is a new phase that comes with great anticipation from the existing and prospective clients. The new ability to issue its own corporate cards fundamentally improves what Volopay can offer to its clientele. The bridged gap between Volopay’s offering and the product allows streamlined services and a better connection for customers’ success. The switch from being a card distributor to an issuer allows the company to graduate upwards, with regard to the quality and range of services it offers. This licence is one the company intends to use in as many APAC markets as possible, giving Volopay the chance to own their entire product stack from top to bottom.
Volopay’s inclusion into Visa’s Fintech Fast Track program comes on the heels of their new launch announcements. While Volopay has been established in the APAC for quite some time now, its product has taken a new direction to expand its prospective client pool. The second half of 2022 is looking bright for them, with more news on product updates and partnerships to come.
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