TodayPay, a new fintech offering Refunds as a Service, has officially become part of the Visa Fintech Fast Track Program.
This move will provide TodayPay with the ability to speed up the process of integrating with Visa, allowing it to harness the “reach, capabilities and security” of VisaNet, Visa’s global payment network.
Based in New York, TodayPay has already been making waves in the fintech arena. Their service has already captured the attention of ecommerce merchants, marketplaces, insurers, investors and other paytechs.
TodayPay, founded by Jeremy Balkin, former head of fintech for J.P. Morgan, emerged from stealth mode at Money 20/20 in Las Vegas. At the event TodayPay was showcased as one of a select group of companies that are “revolutionising the world of money”.
On the Visa announcement, Balkin said: “Visa is a world leader in digital payments and we’re honoured that TodayPay has been invited to join their ‘network of networks’ through this initiative.”
Balkin continued: “Time is money and the speed of a payment can change somebody’s life. Approximately $1.4t of refund payments flow through an inflexible, monolithic and broken part of the payments ecosystem. TodayPay is here to fix the problem.”
Patrick Williams, vice president and head of accounts of Global and North America Fintech Partnerships at Visa, added: “Expanding access to financial tools and services is core to Visa’s purpose, and we’re excited to work with companies like TodayPay in bringing new solutions and approaches to this challenge.”