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Figure partners with Visa to add issuing processing to its banking platform

August 11, 2022

Figure partners with Visa to add issuing processing to its banking platform
Figure Technologies, Inc., a leader in transforming financial services through the power of blockchain technology, announced a new collaboration with Visa to provide issuing processor services via Figure’s blockchain-based Banking in a Box platform.

Visa DPS, used by financial institutions around the globe, will be a key component of Figure’s online banking service, known as Banking in a Box, which allows Figure Pay customers to add eligible deposit accounts, payments, and cards to any existing online retail, fintech, or banking offerings. Through Figure Pay, companies can rapidly get to market with innovative payment, banking, and card solutions, leveraging the Provenance Blockchain, a production blockchain built specifically for the financial services industry.

“Having worked in this space for many years, I knew that there was an opportunity to build a streamlined issuing processor product, with better commercial terms,” said Tony Morosini, General Manager of Figure Pay. “We have everything a partner needs, including the technology, banking relationship, and operational components to make some noise in this industry. Today’s collaboration with Visa will help anchor our Banking in a Box offerings for consumers, small businesses, and community banks.”

“Visa DPS believes the right payment strategy has the ability to go far beyond processing payments and can help improve efficiencies, increase revenue and help a company become more differentiated in their category,” said Todd Brockman, SVP and Global Head of Issuing Solutions at Visa.

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