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Klarpay announced becoming a Principal Member of the Visa Network

By Joy Dumasia

July 07, 2022

  • Card Services
  • Cross Border Payments
  • Digital Payments
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Klarpay AG has become a Principal Member of the Visa Network, a world leader in digital payments, to further its mission of democratising global payment, banking, and digital disbursement services for online businesses. Swiss FinTech Klarpay AG has signed a global partnership with Visa on becoming a Principal Member of the Visa network the membership grants Klarpay the ability to access Visa’s bank-to-bank cross-border business transactions network, as well as to support direct card issuance.

The newly acquired Visa certification further demonstrates Klarpay’s commitment to delivering first-in-class services to its growing client base. Direct membership in the Visa network offers Klarpay’s merchant clients a fast, simple, and integrated way to manage their funds and conduct their day-to-day cross-border transactions.

To receive Principal Membership in the Visa Network, Klarpay had to undergo a rigorous application process and pass a multidisciplinary audit conducted by Visa International to ensure that the company meets all applicable operational and regulatory requirements. Additionally, the Visa Principal Membership comes in addition to Klarpay’s existing operational excellence Level 1 Payment Card Industry (PSI) Data Security Standard certification that ensures the quality, transparency, and robustness of Klarpay’s payment security systems.

Klarpay CEO Martynas Bieliauskas underlines: “Becoming a Principal Member of Visa has been one of our key objectives since Klarpay’s launch in 2019. Acquiring Principal 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. 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 businesses through global, scalable payment acceptance and remittance solutions.

This latest achievement also represents another milestone for Klarpay, as it enables us to offer products that are even more adaptable to the needs of digital entrepreneurs. Looking to the future, we commit to continuously innovate through our expanding suite of services and help online businesses of all calibres thrive on a global scale through the provision of all-encompassing business payment and banking technologies.”

Santosh Ritter, Country Manager of Visa Switzerland & Liechtenstein, states: “We are excited to announce our partnership with Klarpay, which has received principal membership, enabling to offer B2B Connect solution for the first time in Central Europe. As part of our FinTech commitment, we give Klarpay access to our worldwide Visa network so that they can further empower digital businesses and innovative customer experience. We not only offer our value-added services to traditional banking clients but also to FinTech companies. We look forward to working with Klarpay to help their bank-to-bank cross-border business grow.”

IBS Intelligence recently reported that Mambu, a leading cloud banking platform, announced a global partnership with Visa to utilise Visa DPS, one of the largest processors of Visa debit transactions globally. The partnership will give Mambu customers a seamless connection to Visa DPS for end-to-end card issuing and processing.

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