REPAY brings Visa Platform Connect to ISOs, ISVs

REPAY, an Atlanta-based financial technology company specializing in bill-payment solutions, has inked an agreement with Visa to resell Visa's next-generation open payments platform, Visa Platform Connect (VPC).

REPAY will serve as the clearing and settlement backend, enabling ISO and ISV clients to access enterprise-grade infrastructure and build end-to-end processing solutions that connect directly to VisaNet and Visa's ecosystem of payment solutions. REPAY is among a select group of U.S.-based processors bringing VPC to the independent sales channel.

ISOs that have invested in developing their own authorization frameworks can integrate with VPC and use REPAY's clearing and settlement infrastructure to complete processing on a consolidated platform.

VPC provides a single connection to Visa's acceptance platform, supporting card-present and card-not-present payments along with services such as fraud management, tokenization and dispute resolution. Visa said the platform is designed to reduce the need to build and maintain separate integrations while providing access to processing across major card networks.

Reducing processor dependence

The arrangement is aimed in part at technology-focused ISOs and ISVs that have developed front-end payment capabilities but continue to depend on third-party processors for other parts of the transaction lifecycle. REPAY said that reliance can add cost and complexity and limit the ability of payment providers to introduce new capabilities.

REPAY said clients can connect to VPC in less than six weeks. The platform also provides compliance support for EMV, PCI Data Security Standard and PIN transaction security requirements.

The collaboration also gives REPAY clients access to Visa's real-time money movement capabilities, including push-to-card disbursements that can deliver funds to recipients within minutes.

REPAY already provides clearing and settlement services to ISOs and payment facilitators through its proprietary RCS platform. The company offers end-to-end processing capabilities and works with multiple acquiring banks, allowing payment providers to select banking relationships suited to their portfolios.

"Technology-forward ISOs and ISVs have built sophisticated authorization capabilities and are looking for modern infrastructure to support full payment processing," said Melissa Kirk, senior vice president of clearing and settlement at REPAY. "REPAY can now provide our clients with direct access to Visa's platform and the clearing and settlement backbone to support a complete, end-to-end processing solution."

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