Fintech is a central part of the global payment ecosystem, says Visa, “and amidst COVID-19 have launched further into the spotlight, reporting sizable upticks in the usage of their apps, as more people manage their money from their personal devices.” Visa, for example, continues to support the global fintech community, having grown its Fast Track Program to more than 140 fintechs. “Our goal is to bring cutting-edge Fintechs into the Visa ecosystem, to help them grow and scale their business in record time,” said Terry Angelos, senior vice president and global head of Fintech, Visa. “Through programs like Fast Track, Visa is committed to helping Fintechs, many of which are small businesses, advance their potential and get into market quickly, so they are ready to provide innovations that move the world forward everyday – especially in current times.” With more people around the world managing their money from personal devices, some of the top companies to watch include NetCents Technology Inc. (CSE: NC)(OTCQB: NTTCF), Mastercard Inc. (NYSE:MA), Visa Inc. (NYSE:V), Fiserv Inc. (NASDAQ:FISV), and Alibaba Group Holding (NYSE:BABA).
NetCents Technology Inc. (CSE: NC)(OTCQB: NTTCF) BREAKING NEWS: NetCents Technology Inc., a cryptocurrency payments technologies company, today announced that it has joined Visa's Fintech Fast Track program, partnering with Visa's team to bring the NetCents Visa Card to market in the United States and Canada.
By joining the Visa Fintech Fast Track program, NetCents is able to speed up the process of integrating with Visa, allowing NetCents to more easily leverage the reach, capabilities, and security that VisaNet, the company's global payment network, offers. Through Fast Track, NetCents is now able to seamlessly roll out the NetCents Visa Card to its users in North America and expand into additional geographic markets. Previously, the Company was ready to launch the NetCents Credit Card program to users in Canada but chose to end that program when the opportunity to work directly with Visa arose.
"By joining Visa's Fast Track program, exciting FinTech's like NetCents gain unprecedented access to Visa experts, technology, and resources," said Terry Angelos, SVP and Global Head of Fintech, Visa. "Fast Track lets us provide new resources that rapidly growing companies need to scale with efficiency."
Unlike other prepaid cryptocurrency cards in the market, NetCents cardholders will not have to pre-load cryptocurrency onto their card, eliminating potential "lost" appreciation caused by rising cryptocurrency values between the time the user loads it and the time they spend it. The NetCents Cryptocurrency Credit Card is tied directly into users' NetCents wallets, allowing cardholders to spend the cryptocurrency in their wallet. A key innovation that the Company has developed is the ability for users to automatically complete a single credit card transaction across multiple cryptocurrencies.
"Ever since we pivoted NetCents in 2017 towards cryptocurrency transactions, our mission has been to create efficiency in the financial transaction industry," stated Clayton Moore, Founder and CEO of NetCents Technology. "Having a direct relationship with Visa allows us to have the most streamlined and cost-effective system to blend the capabilities of cryptocurrency and the Visa platform. We're looking forward to a long and fruitful collaboration."
Visa's Fintech Fast Track Program provides companies like NetCents the ability to access Visa's growing partner network, and experts who can provide guidance in helping them get up and running in the most efficient way possible. Learn more about Visa's Fintech Fast Track program at https://Partner.Visa.com.
Other related developments from around the markets include:
Mastercard Inc. (NYSE:MA) and Microsoft Corp. announced a collaboration to shape the future of digital commerce, drive startup innovation and enable financial inclusion. The collaboration will accelerate Mastercard Labs’ cloud native research and development activities, enabled by Azure and AI, to advance Mastercard Labs’ mission to de-risk and commercialize emerging technologies and platforms for digital commerce. Through access to technical expertise and cutting-edge technologies, Mastercard’s partners will be further empowered to build and securely scale new solutions. “We are thrilled to deepen our longstanding relationship with Microsoft by advancing the research, development and scaling of new technologies and business models,” said Ken Moore, executive vice president and head of Mastercard Labs. “This strategic collaboration will strengthen and extend our cloud services and capabilities for clients and fintech partners, sparking innovation and creativity for the ecosystem. It will enable us to explore opportunities focused on new client segments, technologies and trends as we continue to drive financial inclusion and build the future of commerce.”
Visa Inc. (NYSE:V) announced its fiscal third quarter 2020 financial results. Alfred F. Kelly, Jr., Chairman and Chief Executive Officer, Visa Inc., commented on the results, “We continue to focus on managing our business for the medium and long-term despite the challenges of the global pandemic. In the quarter, we were pleased to see strong growth in areas that are strategically important, including eCommerce, tap to pay, new flows and value-added services. We remain committed to our strategy and are thoughtfully investing to fuel Visa’s future performance.”
Fiserv Inc. (NASDAQ:FISV) a leading global provider of payments and financial services technology solutions, is equipping financial institutions to better evaluate and plan for risks in the current operating environment with the launch of a robust real-time forecasting and budgeting solution. Axiom Planning and Profitability, a software-as-a-service (SaaS) solution, is offered through a relationship between Fiservand Syntellis Performance Solutions, a leading provider of enterprise performance management (EPM) software, data, and analytics solutions. “Financial institutions need real-time access to accurate forecasting and budgeting data to effectively respond to rapidly changing market conditions,” said Aldor H. Delp, senior vice president and general manager of the Digital Efficiency Group at Fiserv. “By offering Axiom Planning and Profitability, we’re able to empower financial institutions to plan for changes in their markets with an ‘at a glance’ view of their performance combined with insight into how it affects their overall strategy and operating model.”
Alibaba Group (NYSE:BABA) announced that the Seattle-based coffee giant Starbucks Coffee Company will expand its reach to customers across the Chinese mainland by introducing its mobile order and pay feature “Starbucks Now” to multiple platforms in the Alibaba Digital Economy including Taobao, digital mapping and information provider Amap, local services app Koubei and Alipay. By activating “Starbucks Now” through any of these apps, users can pre-order and pay for their favorite Starbucks beverage and food online, and then pick up in-person at most Starbucks stores across the Chinese mainland. Previously, this service was only available through the Starbucks China mobile app. The extended service enables Starbucks to engage with more Chinese consumers through multiple channels that tap into the Alibaba Digital Economy’s user base of nearly 1 billion. It also gives China’s growing number of coffee lovers the added convenience of having their online orders ready for pick-up at the store location of their choice whether on the way to the office.
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