NovoPayment, a banking-as-a-service platform, and Visa have announced an expansion of their strategic partnership to enable financial institutions and merchants to deploy Visa’s digital solutions in Latin America and the Caribbean. Visa has also made a strategic investment in NovoPayment.

Over the past two years, Visa and NovoPayment have worked together on the digitisation of payments across the region. This has included the deployment of Visa Direct, Visa’s real-time payments solution, and Visa Token Services for various use cases including payouts and peer-to-peer payments, as well as facilitating business-to-business (B2B) money movements in markets like Mexico and Colombia.

NovoPayment has used Visa solutions in use cases such as digital account origination, instant card issuance and disbursements.Visa says it is committed to working with payment enablers like NovoPayment to support the integration of new startups and fintech players into the ecosystem.