Global Processing Services (GPS) today announced it has entered a strategic partnership with Visa, through which it will become a preferred issuer processor for Visa’s Fintech FastTrack Programme in Asia Pacific. The two will work together with the goal to champion innovation in the region, and support FinTechs that want to build, test and launch new payment solutions within the APAC region.
This partnership comes at a time when, despite incubator support, most FinTechs, globally, still fail. Capgemini found that the biggest challenges facing FinTechs in incubators are lack of agility, partner willingness and cultural fit. That’s why it is so crucial that financial giants who understand the wider ecosystem – like Visa and GPS – step in and nurture these companies to grow.
GPS is best known for providing the ‘tech behind the tech’ for many of the UK and Singapore’s most notable challenger brands, including Revolut, Railsbank, and Starling. GPS’s Apex platform enables easy integration with FinTechs, issuing banks, Programme Managers and card manufacturers across the payments ecosystem. The platform has become the preferred choice by FinTechs and challenger banks wanting to launch new, innovative and disruptive physical and virtual card payment solutions. So far, GPS has integrated with over 40 issuing banks globally and operates programmes for 100+ clients in 60 countries using over 150 currencies.
Recently launched into the APAC region, GPS is already working with FinTechs, digital banks and e-wallet providers and is supporting European FinTechs including Revolut’s expansion into the international FinTech scene.
Joanne Dewar, CEO at Global Processing Services says: “The epicentre of the fintech revolution is shifting east, and we’re proud to be supporting Visa in their mission to support and accelerate fintech growth across APAC. With our trusted and proven technology and existing track record, we are confident we can support the region’s flourishing fintech talent as the go-to provider for payments technology within APAC”.
To apply for the Visa’s Fintech FastTrack Programme, your FinTech startup must be a registered corporation in your region, in good financial standing, not an existing Visa member and new to card issuance. Once you’re approved, you can implement and test your solution in a new market. More information can be found on the application page.