Digital payments behemoth Visa (NYSE:V) invested in London-based payments platform Form3 through a commercial partnership.
This will enable Visa clients to minimize fraud while sending and receiving real-time account-to-account payments with the help of Form3’s fraud-detection tools and Visa’s AI and risk-scoring features.
This association will be built on Form3’s single API connectivity. Separately, Form3 will provide Visa’s clients access to its payments platform which will thus modernize the payment infrastructure.
This groundbreaking technology and others will be discussed at Benzinga’s Fintech Deal Day on Nov. 13.
Visa’s investment will also help Form3 to develop new products and services and expand into new territories where real-time payment solutions have become integral.
“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’s Chief Product and Strategy Officer Jack Forestell commented in an official press release.
PYMNTS CEO Karen Webster reported on PYMNTS.COM that Form3’s technology chief said the platform-as-a-service model has received a boost from the rise of instant payments and the U.S. is in a “bit of a transformation at the moment” with real-time payments attracting attention.
Notably, Form3 has been processing instant payment traffic on its platforms for almost six years.
In mid-September, Visa extended stablecoin settlement capabilities to the Solana blockchain for modernizing cross-border financial transactions.
Read More: Visa Wants To Revolutionize Cross-Border Payments With Solana
Meet and engage with transformative Digital Asset and Crypto business leaders and investors at Benzinga’s exclusive event – Future of Digital Assets. Tickets are flying: Get yours!
Photo: Shutterstock
