Collaboration strengthens payment offerings for embedded working capital platform

SAN FRANCISCO–(BUSINESS WIRE)–
Visa (NYSE: V), a world leader in digital payments, announced today that it is partnering with Fundbox, an embedded working capital platform for small businesses, to strengthen Fundbox’s platform with the power of digital payments. The first step in this collaboration is the launch of the Fundbox Flex Visa Debit Card, issued by Pathward, N.A., which helps small business customers better manage their cash outflows.

In addition to the Fundbox Flex Card, Fundbox and Visa will work together in the coming months in an effort to introduce a series of new payment products, including a Buy Now, Pay Later (BNPL) solution for small businesses looking for flexible payment options when making purchases, and a push-to-card transfer option for instant fund disbursement through Visa Direct1, Visa’s real-time2 money movement network.

“Small businesses that embrace digital tools tend to be more resilient and better able to compete,” said Jack Forestell, Chief Product Officer, Visa. “As Visa continues to work towards digitally enabling 50 million small businesses by 2023, we’re excited to be teaming up with Fundbox to bring a range of new, digital offerings to the market from cards to installments to disbursement.”

Fundbox Flex Pay is a spend management solution that helps business owners manage payables while providing flexibility around how and when to fund expenses. Fundbox has seen significant growth and quick adoption of the product, and reports payment volume increasing over 80%

Original Source


Notice: ob_end_flush(): failed to send buffer of zlib output compression (0) in /home/biznews/public_html/wp-includes/functions.php on line 5219