Swiss fintech Klarpay AG has become a principal member of the Visa Network to accelerate its aim of democratising global payments.
Signing a global partnership with the card network enables Klarpay to access Visa’s bank-to-bank cross-border business transactions network, as well as to support direct card issuance.
The Visa certification demonstrates the Swiss fintechs ambition to deliver a payment service to its global clientele. With Visa’s assistance, Klarpay’s merchants customers can take advantage of a fast and simple way to integrate and manage funds and cross-border transactions.
“Becoming a principal member of Visa has been one of our key objectives since Klarpay’s launch in 2019,” states Martynas Bieliauskas, CEO of Klarpay.
“Acquiring principle membership puts Klarpay in a unique position when it comes to absorbing the growing demand for frictionless, scalable, and accessible payment, banking, and digital disbursement solutions.”
In order to obtain its principle membership, Klarpay underwent an application process and passed a multidisciplinary audit conducted by Visa International to ensure the fintech met regulatory and operational requirements.
Furthermore, building on its membership of the Visa Network, Klarpay has a pre-existing operational Level 1 Payment Card Industry Security Standard certification, ensuring a transparent and qualitative payment security system.
Bieliauskas added: “As the first FINMA licensed Swiss fintech to work exclusively with e-commerce merchants, digital entrepreneurs, and social media influencers, Klarpay seeks to empower online business through global, scalable, payment acceptance and remittance solutions.”