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Singaporean Startups Prosper As Railsbank Become a Visa BIN Sponsor

Railsbank, the global embedded finance platform, and Visa, the digital payments company, are partnering to drive local fintech enablement, with Railsbank coming on board as a Visa Ready Banking Identification Number (BIN) sponsor. Through the BIN sponsor programme, all of Railsbank’s clients gain access to the same global payment technology, expertise and revenue opportunities as they would if they were a direct card issuer with Visa. This initiative allows Railsbank to expand their market portfolios and become a go-to-partner for Fintechs as they build and launch their card programmes in the country. Partnering with Railsbank also provides Fintechs the solutions and expertise they need to get up and running with speed and efficiency.

Railsbank is also a Visa Fintech Fast Track partner, enabling Fintech companies to gain access to Visa’s network. The programme is part of Visa’s global strategy to open up its network and support a broad range of players that are developing new commerce experiences.

The Fintech company that is first to issue a debit numberless card through Railsbank is Hugo, which launched a Singapore-based “wealthcare” app earlier this year. Hugo is an innovative digital savings proposition that offers a numberless digital-first debit card called the Hugo Platinum Visa Debit Card.

Nigel Verdon, CEO and Co-founder, Railsbank, said: “Our partnership with Visa gives us the opportunity to provide companies with a broad range of Visa payment solutions, such as Cards-as-a-Service, that meet the identified needs of their users. Railsbank simplifies the process of embedding financial services into a customer journey and can therefore help any company – no matter what industry or sector they’re in – to become a fintech by adapting to the needs of their market and customers quickly and easily.”

Kunal Chatterjee, Visa Country Manager for Singapore and Brunei said, “At Visa, we are focused on engaging and building strategic partnerships with the Fintech community. We’re extremely pleased to have Railsbank join us as an exclusive issuer in Singapore, and Banking Identification Number (BIN) sponsor. Our collaboration with Railbank and the BIN sponsorship arrangement is beneficial for Fintechs as it accelerates the onboarding journey with Visa. We are looking forward to seeing more Fintechs benefit from this partnership with Railsbank as we continue to drive innovation and support the launch of products and solutions that transform the payment experiences of consumers in Singapore.”


  • Francis is a journalist and our lead LatAm correspondent, with a BA in Classical Civilization, he has a specialist interest in North and South America.

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