ARTECULATE
No Result
View All Result
  • News
  • Premium
  • Features
    IdeaBits-Founders- Mayan-Narendran- and-Dennis-Surendra

    Navigating the Storm: Strategies for Startup Survival in a Global Recession

    Sugar - Founders

    The Smart Way to Save: How Sugar Helps You Buy What You Want and Avoid Debt

    Breaking Records: PickMe Completes 100 Million Rides and Continues to Innovate

    Breaking Records: PickMe Completes 100 Million Rides and Continues to Innovate

    99x

    From Strength to Strength: 99x’s Steady Growth Propels its Valuation to $75 Million and Beyond

    Blue Lotus 360 Marks its 5th Anniversary: A Celebration of Success and a Launchpad for Growth

    Blue Lotus 360 Marks its 5th Anniversary: A Celebration of Success and a Launchpad for Growth

    LEARN | Higher Education

    Enabling the Future of Higher Education: The Impact of LEARN in Sri Lanka and Beyond

    LankaPay Cashless Businesses

    How LankaPay Empowers Businesses to Build Sri Lanka’s Cashless Economy

    Gapstars Scale Up Party

    Gapstars Hosts Major Scale-Up Party at Port City

    Creative Software Development Team Group

    Creative Software Leads the Way in Reimagining the Employee Experience in a Hybrid World

    Visa Value Added Services as Part of Visa Fintech Initiative Sri Lanka

    Visa is Helping Sri Lankan Fintech Startups Thrive with its Value-Added Services

  • Startups
  • Events
  • Hotpicks
  • Community
    Unlock The Secrets of Startup Funding with Founders Institute Sri Lanka

    Unlock The Secrets of Startup Funding with Founders Institute Sri Lanka

    The RiskSense Story: Building a Cyber Security Product

    The RiskSense Story: Building a Cyber Security Product

    Negotiating to Thrive – Lessons from a Hostage Negotiator

    Negotiating to Thrive – Lessons from a Hostage Negotiator

    First wildlife travel-based management lessons book by Sarath Perera to be launched

    First wildlife travel-based management lessons book by Sarath Perera to be launched

    Hack:bit 2020 is bringing the ideas of students and undergraduates to life

    Hack:bit 2020 is bringing the ideas of students and undergraduates to life

    ESCaPe 2020: University of Peradeniya’s Engineering Students Conference

    ESCaPe 2020: University of Peradeniya’s Engineering Students Conference

    Trending Tags

    • Contributor
    • Billboard
    SUBSCRIBE
    • News
    • Premium
    • Features
      IdeaBits-Founders- Mayan-Narendran- and-Dennis-Surendra

      Navigating the Storm: Strategies for Startup Survival in a Global Recession

      Sugar - Founders

      The Smart Way to Save: How Sugar Helps You Buy What You Want and Avoid Debt

      Breaking Records: PickMe Completes 100 Million Rides and Continues to Innovate

      Breaking Records: PickMe Completes 100 Million Rides and Continues to Innovate

      99x

      From Strength to Strength: 99x’s Steady Growth Propels its Valuation to $75 Million and Beyond

      Blue Lotus 360 Marks its 5th Anniversary: A Celebration of Success and a Launchpad for Growth

      Blue Lotus 360 Marks its 5th Anniversary: A Celebration of Success and a Launchpad for Growth

      LEARN | Higher Education

      Enabling the Future of Higher Education: The Impact of LEARN in Sri Lanka and Beyond

      LankaPay Cashless Businesses

      How LankaPay Empowers Businesses to Build Sri Lanka’s Cashless Economy

      Gapstars Scale Up Party

      Gapstars Hosts Major Scale-Up Party at Port City

      Creative Software Development Team Group

      Creative Software Leads the Way in Reimagining the Employee Experience in a Hybrid World

      Visa Value Added Services as Part of Visa Fintech Initiative Sri Lanka

      Visa is Helping Sri Lankan Fintech Startups Thrive with its Value-Added Services

    • Startups
    • Events
    • Hotpicks
    • Community
      Unlock The Secrets of Startup Funding with Founders Institute Sri Lanka

      Unlock The Secrets of Startup Funding with Founders Institute Sri Lanka

      The RiskSense Story: Building a Cyber Security Product

      The RiskSense Story: Building a Cyber Security Product

      Negotiating to Thrive – Lessons from a Hostage Negotiator

      Negotiating to Thrive – Lessons from a Hostage Negotiator

      First wildlife travel-based management lessons book by Sarath Perera to be launched

      First wildlife travel-based management lessons book by Sarath Perera to be launched

      Hack:bit 2020 is bringing the ideas of students and undergraduates to life

      Hack:bit 2020 is bringing the ideas of students and undergraduates to life

      ESCaPe 2020: University of Peradeniya’s Engineering Students Conference

      ESCaPe 2020: University of Peradeniya’s Engineering Students Conference

      Trending Tags

      • Contributor
      • Billboard
      No Result
      View All Result
      ARTECULATE
      No Result
      View All Result

      Visa is Helping Sri Lankan Fintech Startups Thrive with its Value-Added Services

      Arteculate Arteculate
      February 22, 2023
      Ā· 6 mins read
      Visa Value Added Services as Part of Visa Fintech Initiative Sri Lanka
      Share on Facebook Share on LinkedinShare on Whatsapp

      The Visa Fintech Initiative: Sri Lanka, a collaboration between Visa and Hatch aimed at supporting Sri Lankan fintech startups to supercharge their offerings through the company’s myriad of products and services. To that end, the program hosted a series of webinars open to all fintech entrepreneurs in the island nation. The final webinar in the series focused on introducing these value-added services from its toolbox to local entrepreneurs to help grow their fintech services. The session featured panelists from Visa India and South Asia, including Associate Director – Product Value Added Services at Visa, Dhruv Jauhar, and Product Manager at Visa, Sneha Gupta.Ā 

      You may also like

      IdeaBits-Founders- Mayan-Narendran- and-Dennis-Surendra

      Navigating the Storm: Strategies for Startup Survival in a Global Recession

      March 27, 2023
      Sugar - Founders

      The Smart Way to Save: How Sugar Helps You Buy What You Want and Avoid Debt

      March 24, 2023
      Breaking Records: PickMe Completes 100 Million Rides and Continues to Innovate

      Breaking Records: PickMe Completes 100 Million Rides and Continues to Innovate

      March 22, 2023
      99x

      From Strength to Strength: 99x’s Steady Growth Propels its Valuation to $75 Million and Beyond

      March 17, 2023

      Visa Cloud Connect

      The benefits of a cloud-based operation model are numerous, which is why several organizations have embraced it over the past decade. For fintech companies, it offers a pathway to reduce their overheads while having the infrastructure in place for global expansion. Recognizing this trend, Visa Cloud Connect is a platform that allows fintechs to securely connect to VisaNet with their existing cloud infrastructure for more efficient acceptance, authorization, and clearing of card transactions. 

      The platform offers flexibility, market access, and many powerful features. For example, fintech startups seeking to expand internationally can utilise the company’s platforms to process all major credit and debit payments without exception. In addition, as it automatically routes all transactions to multiple applications, the process is streamlined and secure with industry-leading firewalls, encryption, and access detection. All this, with the highest level of processing performance across all applications and endpoints, makes Visa’s cloud services an attractive offering for fintechs.Ā Ā 

      Visa Cardholder Transaction Score (VCTS)

      Visa offers predictive and descriptive insights to help financial institutions make better credit decisions. It does so by using a suite of predictive models, which analyse an individual’s transactions after they’ve given the authorisation to do so. Afterward, a score of their creditworthiness is generated that’s valid up to a future period of around 12 months. Fintechs can access this VCTS score and its insights through an application programming interface (API).

      The VCTS scores offer a range of benefits for fintech startups. Notably, they improve market efficiency by helping identify the best products for each customer. Further, the scores help enhance the underwriting process with better approval rates. For customers new to banking and lack credit or have a limited credit history, these scores help financial institutions make better decisions during the initial credit line assignments. Finally, with a better risk evaluation option, the company offers better customer management tools for fintechs. As a result, they’re better able to identify low-risk customers and make offers such as credit line increases.

      Visa Stop Payment Service (VSPS)

      This product tackles specific customer complaints where they had requested a monthly subscription to be canceled, but it’s debited regardless. In such instances, VSPS declines all unwanted recurring subscriptions on their Visa card. It does so by creating stop instructions according to the specifications of the cardholder, including stop instructions with a future start date. Such instructions are made either by the fintech, using the Visa online portal when a customer contacts them, or by the customers via banking apps that have integrated the VSPS API. Any stop instruction from VSPS is in effect immediately and can significantly help reduce chargebacks and customer complaints.

      Visa Advanced Authorizations (VAA) and Visa Risk Manager (VRM)

      The rise of eCommerce also comes with the risks of fraudulent transactions, which are growing in complexity with digitisation. If they wish to ensure a secure and frictionless payment environment, fintechs need advanced capabilities to tackle fraud. The company offers fintechs advanced risk management and fraud prevention tools to create a better customer experience. Namely, VAA and VRM are cloud-based platforms that work together to give fintechs powerful authorization decision-making capabilities.Ā Ā 

      VAA evaluates nearly 100% of authorizations on global VisaNet and derives a two-digit risk score. This score indicates the probability of a transaction being fraudulent. The VAA’s algorithm is updated periodically to ensure its effectiveness in the face of evolving threats. It has proven to be a valuable tool and annually prevents an estimated $25 billion in fraud.

      VRM is a web-based portal that leverages VAA to allow fintechs to decline high-risk transactions. It will enable fintechs to develop and refine their rules for payment authorization and offline case management. Creating these rules is simple as its highly intuitive user interface allows fintechs to select from multiple parameters and build sophisticated fraud management rules. Further, it can be integrated as an API, allowing fintechs to unlock new use cases, such as notifying customers of possible fraudulent transactions and having them confirm or deny these via a mobile app. 

      Visa Risk-based Auto Dispute (VRAD)

      Built atop the VRM, the VRAD is another solution by Visa that allows fintechs to optimize and automate fraud-dispute submissions with minimal inconvenience to customers. VRAD enables operating teams that monitor high-risk transactions to flag potentially fraudulent transactions and report them to the company instantly. Thus, saving the time and effort that would have otherwise been taken to submit and manually resolve a dispute. Here too, the company has made VRAD’s capabilities available as an API, which can connect with existing internal risk management systems or customer relationship management (CRM) tools utilized by the fintech.

      Visa Analytics Platform (VAP)

      The VAP is a self-service web-based analytics platform by Visa that provides access to anonymised data to issuers and acquirers for analysis. From a customer’s early spending behaviors to fraud detection, the VAP offers fintechs valuable insights across multiple categories. A notable feature it provides is peer benchmarking, allowing fintechs to identify and evaluate business opportunities. Given Visa’s widespread use, the benchmarks offered by the VAP are an invaluable tool for any fintech startup. 

      Smarter Stand-In Processing (Smarter STIP)

      Smarter STIP by Visa uses deep learning to help financial institutions increase transaction authorizations during outages. An example of such instances is when during a sale by an eCommerce merchant, their host crashes due to heavy traffic. In such cases, the system utilises AI to generate an informed decision to approve or decline transactions on behalf of issuers to provide consumers with a frictionless Visa payment experience. Thus, it ensures that issuers such as the merchant do not miss out on transactions when their host is ā€˜down’ while ensuring the company will not grant blanket approval to every transaction.

      With its services, Visa is supercharging fintechs

      Visa’s value-added services are designed to help fintech startups in several ways. These services can provide financial institutions and fintech startups with the tools and resources they need to build and grow their businesses. At the Visa Fintech Initiative: Sri Lanka, we saw how these services could empower startups to offer frictionless payments, utilize improved data analytics, and have strong fraud prevention measures. Overall, Visa’s value-added services can provide fintech startups with the tools and resources they need to build and grow their businesses and help them better serve their customers.

      Tags: HatchSponsoredVISA
      ShareShareSend
      Previous Post

      Revisiting the LOLC Global ICT Conference: Driving Innovation Across a Multinational in 16 Countries

      Next Post

      Creative Software Leads the Way in Reimagining the Employee Experience in a Hybrid World

      Arteculate

      Arteculate

      Arteculate is your guide to the Asian tech industry. We give you unparalleled insights, accurate, local tech news, thoughtful features and sometimes scathing opinions on where things are headed. Stay tuned for the best of Asia!

      Recommended Stories

      IdeaBits-Founders- Mayan-Narendran- and-Dennis-Surendra
      Features

      Navigating the Storm: Strategies for Startup Survival in a Global Recession

      March 27, 2023
      Sugar - Founders
      Features

      The Smart Way to Save: How Sugar Helps You Buy What You Want and Avoid Debt

      March 24, 2023
      Breaking Records: PickMe Completes 100 Million Rides and Continues to Innovate
      Features

      Breaking Records: PickMe Completes 100 Million Rides and Continues to Innovate

      March 22, 2023
      99x
      Features

      From Strength to Strength: 99x’s Steady Growth Propels its Valuation to $75 Million and Beyond

      March 17, 2023
      Blue Lotus 360 Marks its 5th Anniversary: A Celebration of Success and a Launchpad for Growth
      Features

      Blue Lotus 360 Marks its 5th Anniversary: A Celebration of Success and a Launchpad for Growth

      March 3, 2023
      LEARN | Higher Education
      Features

      Enabling the Future of Higher Education: The Impact of LEARN in Sri Lanka and Beyond

      March 1, 2023
      Leave Comment

      Recommended Stories

      IdeaBits-Founders- Mayan-Narendran- and-Dennis-Surendra

      Navigating the Storm: Strategies for Startup Survival in a Global Recession

      March 27, 2023
      Sugar - Founders

      The Smart Way to Save: How Sugar Helps You Buy What You Want and Avoid Debt

      March 24, 2023
      Breaking Records: PickMe Completes 100 Million Rides and Continues to Innovate

      Breaking Records: PickMe Completes 100 Million Rides and Continues to Innovate

      March 22, 2023
      99x

      From Strength to Strength: 99x’s Steady Growth Propels its Valuation to $75 Million and Beyond

      March 17, 2023
      Blue Lotus 360 Marks its 5th Anniversary: A Celebration of Success and a Launchpad for Growth

      Blue Lotus 360 Marks its 5th Anniversary: A Celebration of Success and a Launchpad for Growth

      March 3, 2023
      LEARN | Higher Education

      Enabling the Future of Higher Education: The Impact of LEARN in Sri Lanka and Beyond

      March 1, 2023

      Popular Stories

      • Coca Cola and Avocado: A Partnership Rewarding Food Experiences

        Coca Cola and Avocado: A Partnership Rewarding Food Experiences

        0 shares
        Share 0 Tweet 0
      • Rhoda: The all-electric Sri Lankan Roadster

        0 shares
        Share 0 Tweet 0
      • Spotify Expands Into Sri Lanka: Exploring What It Has To Offer

        0 shares
        Share 0 Tweet 0
      • Leveraging the Power of AI: How EBI is Building a Digitally Inclusive Sri Lanka

        0 shares
        Share 0 Tweet 0
      • The DirectPay Story: Building a Virtual Bank One Digital Brick at a Time

        0 shares
        Share 0 Tweet 0
      No Result
      View All Result
      • News
      • Premium
      • Features
      • Startups
      • Events
      • Hotpicks
      • Community
      • Contributor
      • Billboard

      Ā© 2020 Arteculateā„¢ All Rights Reserved.

      Are you sure want to unlock this post?
      Unlock left : 0
      Are you sure want to cancel subscription?