Visa Invests in Form3 with a focus on reducing fraud and increasing operational efficiency in real-time payments

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Sep 12, 2023, 08:00 ET

LONDON, Sept. 12, 2023 /PRNewswire/ -- Form3 today announces that Visa, a world leader in digital payments, has invested in the cloud-native account-to-account platform, which will help Form3 continue its expansion. This funding is in parallel to news that Form3 will provide Visa's clients with access to their best-in-class payments platform, to enable them to modernise their payments' infrastructure.

The new commercial partnership aims to bring our capabilities together in an effort to reduce high levels of fraud in real-time account-to-account payments, which includes building on Form3's single API connectivity.

Michael Mueller, Form3's CEO, says: "Today's Visa funding and partnership announcement demonstrates the confidence that they have in Form3's ability to deliver for their customers. We are delighted with this unique partnership we have built in collaboration with Visa which enables us together to continue to offer best-in-class services for the world's most established banks and financial institutions."

Jack Forestell, Visa's Chief Product and Strategy Officer, adds "A2A payments continue to grow in key segments and markets and Visa and Form3's partnership will look to offer modern cloud-native access to real-time payment infrastructures. Together we can grow confidence in real-time A2A payments, as we seek to combine Form3's FinCrime Orchestration service with Visa's deep learning AI and real-time risk scoring to help financial institution clients better manage the risk of sending and receiving real-time A2A payments."

The Visa investment will enable Form3 to continue its growth journey, developing new products and services, and expanding into new territories, where the emergence of real-time payment solutions are becoming essential.

About Form3

Form3 is the account-to-account platform. Founded In 2016, Form3 set out to revolutionise the world of payment processing and disrupt the traditional payment infrastructure model, with an always on, cloud-native, Payments-as-a-Service platform. Today, Form3 is trusted by some of the UK's and Europe's and the US's biggest tier one banks and global financial institutions to handle their critical payments architecture. Form3 has been awarded Tech of the Future for Banks & Financial Institutions 2023 by the Paytech Awards, Payments Tech of the Year 2023 at the UK Fintech Awards, Engineering Team of the Year 2023 at the Europe Fintech Awards, Payments Innovation of the Year 2022 by FSTech Awards, and was shortlisted as Diversity Champion of the Year 2022 run by British Diversity Awards.

SOURCE Form3