B4B Payments announces new collaboration with Visa in the U.S.
Digital payments company, B4B Payments, today announced a strategic collaboration with Visa in the United States. B4B Payments will leverage Visa’s proven scale, security and reach to grow in the U.S. market. The B4B payments program will be delivered on Visa Debit Cards and supported by Visa DPS for issuer processing services.
The move will see B4B Payments’ technology aiming to help companies facing challenges with outdated payment methods in the United States. Due to open its first U.S. office in Boston, Massachusetts in August 2020, this announcement marks a significant leap forward in capability for B4B Payments.
Paul Swinton Founder and CEO of B4B Payments said, “Now is the right time for us to unleash our platform into the U.S. market and help companies free up their time from the sometimes-antiquated expense management processes in the same way we have in Europe. We are looking forward to achieving similar levels of success by collaborating with Visa to take our product forward.”
B4B Payments’ technology helps to streamline the payment process for organisations who had previously found difficulty managing issues that can be associated with traditional payment methods, such as employee expenses or third-party payments. The platform is entirely digital and can be used in conjunction with the B4B app to enable updates on the go, featuring automatic notifications of funds received, reminders for receipt input and freeing up the business to spend more time on other tasks. The technology allows for increased visibility and control over the expense payments that a company makes to its staff and suppliers. B4B Payments is particularly useful for agile digital companies without the resources to employ full-time administrative staff, or who employ gig economy workers and contractors, because payments can be tracked and made as needed without needing a central interface.
Kieran Draper, Head of B4B Payments (USA) Inc, comments, “We’re delighted to be able to announce the company’s expansion into the U.S. market, which has been a corporate ambition of ours for some time, and to transform the sometimes challenging process of business payments alongside a global brand like Visa is a great privilege.”
Our platform assists U.S. businesses facing challenges with purchasing and payments, in a world where the gig economy is growing massively. We hope to provide these businesses with a swift, secure and easy-to-use platform that gives them more time and effort to focus on their trade, rather than their administration.”
“We have successfully worked with fintech organizations across the globe to provide a clear path towards getting to market faster and more efficiently, leveraging Visa’s scale, security, reach and strong network of partners,” said Terry Angelos, SVP and Global Head of Fintech, Visa. “By working with B4B payments on their expansion to the U.S., we are continuing our support for fintechs, with the goal of accelerating the growth of the payments industry and creating better ways to help move money everywhere.”
B4B Payments announces this exciting news off the back of an excellent 2019, which saw the company win Best Prepaid Product of the Year at the 2019 European Card & Payments Awards. With over 1,000 customers in Europe alone and several award wins under their belt, this expansion into North America represents a significant milestone for the company.