Weavr has partnered with Visa to improve embedded payments in the employee benefits sector.
As a Visa Associate Member, Weavr can now support SaaS companies to integrate Visa-powered financial products into their platforms, with an initial focus on the expanding global employee benefits sector.
Easier integration of employee benefits solutions
There is a current global trend regarding employees transitioning from generic benefits to spendable, personalised allowances. In Europe, the discretionary employee benefits market is valued at USD162 billion annually, according to a 2024 KoreFusion analysis commissioned by Visa. This is part of a wider global employee benefits market valued at USD 377 billion.
SaaS and BaaS platforms operating in HR tech, including benefits platforms and workforce management tools, are key to meeting this increasing demand. But integrating these services remains complex and risky, which is why Visa and Weavr aim to simplify the process. Moreover, research from Weavr concludes that 89% of B2B SaaS platforms are developing or considering integrated payment features, such as card issuance, wallets, and embedded billing.
Visa believes that Embedded Finance is becoming a key tool for businesses looking to deepen their relationship with their customers. Leveraging Visa products, Weavr enables HR platforms to integrate employee benefits solutions easily, thus contributing to new developments in Embedded Finance and enabling business models and propositions in the HR tech sector.
The advantages brought by the partnership benefit HR tech platforms, which gain a ready-to-integrate solution for flexible benefit cards, and employees, who can have smarter and personalised benefits without the need for spreadsheets, receipts, or reimbursement delays. Additionally, Visa gains a scalable distribution model for B2B payments through trusted SaaS providers globally.
Weavr’s multi-FI model unifies multiple financial partners into one platform, offering broad coverage and diverse financial tools via a single integration. With Visa, B2B SaaS platforms can embed card issuance, budget tracking, and real-time spend control within their existing UX.
For more information about Weavr, please check out their detailed profile in our dedicated, industry-specific Company Database.
