Firms collaborate on new platform ‒ b.yond
A consortium of major companies has launched b.yond, a financial innovation platform that will let banks and consumer-facing businesses rapidly deploy a range of innovative fintech payment services.
Global Processing Services, Pannovate, Cornercard, Modulr, AllPay, Meawallet and W2 Global are founding partners of the consortium in collaboration with Visa.
b.yond users will benefit from the innovation, expertise and scale of the consortium partners.
“The project has been all about collaboration-led innovation and with an established list of other leading companies wanting to join the consortium, we expect the initial propositions to grow exponentially as we onboard new organisations and regions,” says Neil Harris, co-founder of b.yond and leader of the consortium.
Businesses wanting to launch a payments programme can use the platform to access a financial technology platform and innovative payment solutions using Visa’s rails, which they can deploy for customers in less than eight weeks.
“The launch of b.yond is another big step towards enabling our clients to gain rapid access to the capabilities that lie within Visa’s global network to power their own ideas,” says Smriti Vicari, head of fintech at Visa.
The platform aims to reduce complexities of launching a payment programme and having to deal with multiple stakeholders in the payments ecosystem.
With one contract from b.yond, firms will have everything required to launch a payments solution: from on-boarding and know your customer (KYC) checks, to P2P transfers, multi-FX, account load, multi-language and more.
Businesses can also test and monitor their propositions’ performance.
