Visa has announced an investment and partnership with Behalf, to support small business growth through easy-to-access capital and financing. Behalf provides working capital solutions for small businesses and flexible financing for business purchases.
As part of the investment in Behalf, Visa will offer the start-up's small-business clients a tokenised Visa Virtual Card, a credit-based payment solution that gives businesses instant financing for their business purchases. The Visa Virtual Card will initially be offered in the US, with a plan to expand to other markets in the coming months.
This partnership supports Visa’s global strategy to extend its products and capabilities to small businesses through collaborations with start-ups and fintechs that help redefine and enhance the payments experience. It is also part of Visa’s commitment to invest up to US$100m in fintechs.