This broadens the payment landscape, granting consumers greater flexibility and access to their preferred payment options.
Southeast Asian fintech platform Fiuu and global payments services provider Visa have announced their partnership for the launch Visa Instalment Solutions (VIS) for businesses in the region.
VIS offers real-time, API-powered, issuer-led Buy Now Pay Later (BNPL) solution that seamlessly integrates with existing checkout processes.
According to the firms, “this empowers businesses to offer convenient instalment options, driving sales and enhancing customer experience.”
Leveraging Visa’s extensive network, Fiuu’s merchants, including Samsung, Electrolux, BWL Group, can now accept instalment payments issued by participating VIS issuers in the Philippines, Singapore, and Malaysia.
“VIS represents a significant advancement in our commitment to innovation in payment solutions. Collaborating with Visa allows us to empower merchants and customers alike with flexible payment options, enhancing the overall shopping experience,” said Eng Sheng Guan, CEO of Fiuu.
Lim Gaik Lin, Head of Fintechs and Sellers at Visa Malaysia said, “[a]s the demand for Buy Now, Pay Later (BNPL) solutions continue to grow, it is essential to provide flexible payment options that cater to the evolving needs of our cardholders.”
“This partnership will enable Fiuu’s merchants to offer a seamless and convenient instalment payment experience, empowering consumers to manage their finances more effectively. Together, we are committed to enhancing the shopping experience and driving innovation in the payments industry,” Lim added.
Fiuu, formerly known as Razer Fintech, along with its division, Razer Merchant Services (RMS), is the financial technology arm of Razer Inc.
Established in April 2018, Fiuu has grown to become one of the largest O2O (offline to online) digital payment networks in emerging markets and has processed over billions of dollars in total payment value — recording a recorded a Total Payment Volume (TPV) of over US$6.6 billion for FY2023,
Meanwhile, Visa is a world leader in digital payments, facilitating payments transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories.