Visa has invested in Form3 as part of a wider commercial partnership with the cloud-based account-to-account payments platform. The size of the investment was not disclosed.
Form3 will provide Visa’s clients with access to its payments platform. The partnership also aims to reduce high levels of fraud in real-time account-to-account payments, including by building on Form3’s single API connectivity.
Michael Mueller, CEO, Form3, says: “We are delighted with this unique partnership we have built in collaboration with Visa which enables us together to continue to offer best-in-class services for the world’s most established banks and financial institutions.”
Jack Forestell, chief product and strategy officer, Visa, adds: “A2A payments continue to grow in key segments and markets and Visa and Form3’s partnership will look to offer modern cloud-native access to real-time payment infrastructures.”
Visa joins a long list of blue-chip investors in Form3, which has raised more than $200 million from the likes of Goldman Sachs, Nationwide Building Society, Lloyds Bank, Barclays and Mastercard.