Shieldpay partners with Visa for secure P2P marketplace transactions

Secure payments platform Shieldpay has formed a partnership with Visa to support the use of payment cards on P2P marketplaces.

Through the partnership, the London-based FinTech will enable Vida debit cards and credit cards to be used on P2P marketplaces and classified ad sites. Shieldpay partners will be able to utilise the Visa Direct push payments service, which will let funds be distributed directly to visa cards in real-time across multiple European markets.

ShieldPay is a payments solution which aims to lower the risk of fraud during transactions. The company holds funds securely until both participating parties have been verified and are happy with the transaction.

As part of the deal, Shieldpay will work in conjunction with Visa’s CyberSource platform to provide P2P payments to new verticals.

Visa SVP product solutions Mike Lemberger said, “Our partnership with Shieldpay is a great opportunity to bring Visa’s digital payments capabilities to marketplaces and ad sites. CyberSource enables Shieldpay to offer enhanced security and fraud management for card payments and Visa Direct enables real-time payouts to sellers across markets.

“We are excited to work with Shieldpay to launch in multiple markets utilizing our enhanced offerings to help them to expand with speed and safely.”

Earlier in the year, Visa prepared the launch of its blockchain-based B2B Connect. The solution provides financial institutions with a simple, fast and secure way to process cross-border B2B payments globally.

Copyright © 2018 FinTech Global

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