NovoPayment and Visa Launch Embedded Banking Platform for Latin America
On August 31, 2020, NovoPayment and Visa announced the launch of an embedded banking platform designed as a white-label BaaS solution for issuing banks and fintechs in Latin America and the Caribbean. The platform enables instant virtual account creation in seconds, self-enrollment with biometric validation, and optional contactless card issuance for remittances and disbursements. NovoPayment contributes its BaaS infrastructure with APIs for deposits, transactions, and customer experiences, while Visa provides its global payments network and brand.
The solution integrates with existing bank systems and can be deployed by neo-banks, merchants, and marketplaces in as little as 10 weeks. The platform aims to accelerate digital delivery and financial inclusion for underserved consumers in the region. No specific financial terms were disclosed.
The launch reflects the broader trend of embedded finance, where banking capabilities are seamlessly integrated into non-bank applications via APIs.
- Accelerates BaaS adoption in Latin America by providing a turnkey embedded banking solution deployable in weeks
- Strengthens Visa's position in the LATAM embedded finance ecosystem by partnering with a regional BaaS infrastructure provider