The Visa Innovation Studio in Tel Aviv announced on Wednesday a new partnership with three Israeli financial tech companies focused on advanced payment solutions for the retail and B2B sectors.
“Our Innovation Studio in Tel Aviv focuses on investments and creating business partnerships with Israeli Fintech and Paytech companies whose value offering is significantly driven by payment solutions,” said Shahar Friedman, head of the Visa Innovation Studio in Tel Aviv, in a statement Wednesday. “Visa cooperates with these startups to support their growth and development by leveraging the reach, capabilities, and security VisaNet, the company’s global payment network, offers.”
The three companies selected for the partnership are ChargeAfter, a New York-based point-of-sale financing platform that empowers retailers to offer consumers personalized financing options at checkout from multiple lenders; Mesh Payments, a Tel Aviv-based B2B payments service focusing on making cross-border transactions fast and simple by enabling payments through prepaid virtual cards, and which operates globally; and Zooz which was acquired by PayU and provides online payment methods to over 300,000 retailers in 18 countries.
In addition, Visa invested an undisclosed amount in Behalf, which offers alternative financing for small businesses, and is studying more investments in Israel, Friedman said.
The company is also hosting several early-stage startups in the innovation center for up to six months as Visa evaluates their technologies.
[Sources: NoCamels, Reuters]