Shieldpay Partnership with Visa to Enable Secure Use of Payment Cards
London based fintech Shieldpay has agreed a partnership with Visa to deliver secure card payments across peer to peer marketplaces and classified ad sites.
The partnership will open up the use of debit and credit cards to the £120bn classified industry.
Shieldpay’s instant digital escrow solution mitigates the risk of fraud by verifying the identity of all parties, holding funds securely and only releasing funds when all sides agree they are happy. As part of the partnership, Shieldpay will work with Visa’s CyberSource platform to enable access to new verticals where secure peer-to-peer payments have been tough in the past – such as classified ad platforms and peer-to-peer marketplaces.
The partnership will also allow Shieldpay’s partners to make use of the Visa Direct push payments service, enabling funds to be disbursed directly to a Visa card in real time in many European markets.