NovoPayment is set to utilise Visa’s capabilities and APIs to bolster digital payments services in Latin America and the Caribbean islands.

The company announced the deployment of Visa Direct for instant payments, P2P and P2M payments, account-to-account payments, fast funds, mass payouts and Visa Token Services in the region.

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It will enable issuers, acquirers and merchants to expedite time-to-market in the adoption of key Visa solutions.

The move is part of a strategic alliance between the two parties, which is aimed at supporting the adoption of digital payments in Latin America and the Caribbean.

Visa Latin America and the Caribbean senior vice-president of Products and Solutions Ruben Salazar said: “The new API delivery models enabled by NovoPayment provide Visa’s clients and partners another means of adopting key solutions and embedding them into new use cases.

“This is particularly important for the growth of Visa Direct in the region, which has the potential of truly transforming the way funds are transferred amongst consumers, businesses, and governments in Latin America.”

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NovoPayment is a Visa Ready fintech partner and a certified Visa Direct and Visa Token Service provider.

The company works to leverage Visa’s capabilities to facilitate digital account origination, super wallets, and instant payments.

NovoPayment co-founder and CEO Anabel Perez said: “Digital payments via Visa Direct and Visa Tokenization Services is a major time-saver and critical component of providing the kinds of frictionless and secure payment alternatives that today’s consumer and commercial customers demand.”