Fintech CardUp announces new deal with Visa

The deal will allow businesses to instantly access credit on international payments.

Singapore fintech CardUp has announced its collaboration with Visa that will allow businesses in Singapore to make cross-border payments.

The digital credit card payment platform will allow payments to be made via credit cards to overseas suppliers who do not accept card payments.

“This means businesses can make use of their available credit limit to delay the outflow of that expense for up to two months, on payments to over 100 countries. CardUp’s solution leverages the company’s status as a registered Visa Business Payment Solution Provider (BPSP) to help more businesses in Singapore tap onto their underutilised credit limits,” CardUp said.

CardUp will charge a processing fee per transaction, but the company’s status as a registered Visa BPSP will allow customised rates to be offered to businesses.

“Our collaboration with Visa allows us to double down on this flexibility for Singaporean businesses aiming to tide their cash flow with existing credit card lines – which is competitively priced and more convenient than conventional financing options, plus it’s quicker as there is no need for application or waiting times,” said CardUp CEO Nicki Ramsay.