Plug-and-Play Finance specialist, Weavr, has announced a new collaboration with Visa, a world leader in digital payments. The collaboration aims to accelerate the adoption of embedded finance solutions among B2B Software-as-a-Service (SaaS) companies.
Embedded finance enables B2B software businesses to integrate financial services into their software to augment their existing product offerings or launch entirely new products and services. In addition to delivering more value to their customers, such software businesses can expect new revenue streams and improved customer retention.
The embedded-finance solutions crafted by Weavr (and integrating Visa capabilities) take the form of easy-to-deploy and cost-effective Financial Plug-ins that are seamlessly embedded into the software. The plug-ins are financial products that are ‘embeddable by design’ – they bring together everything a business needs to power specific use cases in segments spanning ERP solutions, HR management platforms, B2B Commerce, and others, while also allowing full control over the user experience for their end customers. Importantly, as the Weavr solution is primarily targeted at non-financial businesses, the Financial Plug-ins cover areas of compliance, regulation, and data security.
Speaking on the new collaboration, Alex Mifsud, co-founder and CEO of Weavr commented:
“We’re delighted to make this important announcement alongside Visa, which will help to extend embedded finance opportunities to more businesses and more regions than ever before. I have been impressed by Visa’s range of payments capabilities and believe that our collaboration will deliver embedded-finance solutions to more established businesses and corporations, enabling them to find new routes to customer growth and to unlock new revenue streams.”
Emma Kerr, SVP for Europe Strategic Partnerships, Visa, added:
“Expanding access to financial tools and services is core to Visa’s purpose –uplifting everyone everywhere –and we’re excited to work with companies like Weavr in bringing new solutions and approaches to this challenge.”
