Checkout.com has partnered with Visa to launch card issuance solutions across its platform of merchants in the UK and Europe.
Checkout.com’s Visa travel card capabilities offer merchants access to Visa’s global issuing rails, helping them launch physical and virtual cards through Checkout.com’s platform. The payment service provider will be issuing cards on behalf of its merchants, allowing them to have instant access to acquired funds for supplier payments. Checkout.com processes payments for thousands of companies in Europe and beyond, supporting 145 currencies and offering payment solutions globally.
Card issuance across Europe and the UK
For merchants in the travel industry, the card-issuing feature optimises treasury efficiency by eliminating pre-funding requirements, improving cash flow, and enabling better spend control. Travel firms tend to struggle with complex or fragmented payment processes, failing to connect the funds from their customers to the capital required to pay their hospitality and travel partners. With the new solution from Visa and Checkout.com, they can address these issues by leveraging acquiring and issuing capabilities on the Visa network, as well as issuing processing solutions.
Funds acquired by Checkout.com are available to pay the platform’s partners, removing friction and improving capital efficiency. Visa believes that this partnership will offer significant advantages to European merchants, including issuing solutions, operating with greater efficiency, reducing friction, and improving capital management. The company is committed to recognising the challenges faced by the sector and delivering convenient and user-friendly solutions in compliance with the regulatory standards of the industry.
Checkout.com mentioned that its alliance with Visa is allowing merchants to leverage acquiring and issuing solutions, eliminating the need for pre-funding and enabling immediate access to funds, thus improving cash flow management. This aims to improve operational efficiency and unlock growth opportunities and business performance.
