As a new US-licensed Acquiring Processor, Moov's partnership with Visa and Pathward offers a quick path to card processing and other services uniquely designed for platform, vertical SaaS, and fintech companies
DENVER, CO / ACCESSWIRE / July 28, 2022 / Moov Financial announced today their launch as a direct merchant acquiring processor on the Visa network in partnership with Pathward N.A., formerly known as MetaBank, N.A., as Moov's acquiring sponsor for card payments. Moov, a payment platform focused on delighting users, solves complex multi-party payment flows and makes it easy to accept, store and disburse money.
"Becoming a US-licensed Acquiring Processor is a monumental achievement and we're beyond grateful to Visa and Pathward for helping make it possible," said Wade Arnold, CEO and Co-founder of Moov.
With this partnership, Moov is now directly connected to the Visa network for card authorization, capture, and settlement. Because of Moov's modern and modular technology, clients get a simple and fast onboarding experience through Moov directly to the Visa network without additional intermediaries. With Moov's streamlined merchant onboarding, verification, and account creation, deployment can occur in seconds versus hours, days or sometimes weeks, creating seamless payment experiences for clients and their customers.
In addition to accepting card payments, software platforms can use other payment methods supported by the Moov platform and its network of Financial Institution Sponsors.
"We're excited to work with innovative partners like Moov who are rethinking traditional models to power a new generation of payment experiences," said Vanessa Colella, SVP and Global Head of Innovation and Digital Partnerships at Visa.
"Becoming an acquiring processor is a rigorous process," said Phil Ricci, VP, Acquiring Solutions at Pathward. "It's rare to see a partner start an acquiring processor project and finish it as quickly, efficiently, and effectively as Moov has. The speed of implementation demonstrates the combined commitment and strength of our partnership."
In the first few months of 2022, Moov became certified and licensed as an acquiring processor with Visa, Mastercard, Discover, and American Express.
"As a direct acquiring Processor, software platforms can onboard merchants to start accepting card payments to their Moov Wallets without having to become payment experts or build their own payment infrastructure," said Arnold. "We're thrilled to help software integrators get to market faster-this partnership, Moov's drop-in components called Moov Drops, and our developer-focused APIs and SDKs will help them get there."
About Moov
Moov is the payments Processor devoted to making it easy to accept, store, and disburse money-with direct connections to The Clearing House, Fed, and all major card brands, from a single API. Because Moov handles user onboarding, licensing, program management, and compliance, businesses spend less time decoding payments and more time building solutions to serve their customers. Clients can automate workflows and get to market in days with Moov's robust admin portal, API-enabled features, and drop-in web components. Get started at moov.io, follow Moov on Twitter @Moov, or join our growing community at moov.io/community.
About Pathward™
Pathward™, N.A., a national bank, is a subsidiary of Pathward Financial, Inc.™ (Nasdaq:CASH). Pathward is a U.S.-based financial empowerment company driven by its purpose to power financial inclusion for all™. Pathward strives to increase financial availability, choice and opportunity across our Banking as a Service and Commercial Finance business lines. The strategic business lines provide end-to-end support to the individuals and businesses who are powering the everyone economy. Learn more at Pathward.com.
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SOURCE: Moov Financial