Checkbook.io, an end-to-end online payments processor, today announced that it has joined Visa’s Fintech Fast Track program, speeding up the process of integrating with the Visa network, and allowing Checkbook to easily leverage the reach, capabilities and security that VisaNet, Visa's global payments network, offers.
Through Fast Track, Checkbook is taking real-time1 payments to the masses with the launch of its Virtual Cards.
Leveraging Virtual Cards by Checkbook helps reduce the fear associated with losing your wallet or being susceptible to credit fraud. A Virtual Card is a unique 16-digit number with a pre-determined spending limit fit for one time use that would be sent to the recipient via email. The recipient could save this information and use it as and when needed. Another benefit to Virtual Cards is that senders can earn cash back atop their savings from going digital.
Visa’s Fintech Fast Track Program provides startups, like Checkbook, the ability to access Visa’s growing partner network with experts who can provide guidance in helping them get up and running in the most efficient way possible.
“Visa has given Checkbook great impetus! To think that this was just an idea until 6 months back and we are now ready to go to market with a transformative product. Fast Track helped us get up and running faster, and scale efficiently in this endeavour,” says PJ Gupta, Founder and CEO of Checkbook.
Checkbook’s clients have jumped at the opportunity to add Virtual Cards to their stack of payment products. Luke Nield, the IT Director of Schomp, one of the early adopters that signed up for Checkbook’s Virtual Card offering, claimed “Our clients will love the convenience of Virtual Cards as it will give them instant gratification and increase loyalty tremendously. It is exciting that with new technology you can not only pay anyone in real-time but they can also simply store the funds on their phones! I am excited to now have adopted the whole gamut of products offered by Checkbook.”
“By joining Visa’s Fast Track program, exciting Fintechs like Checkbook 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.”