September 4, 2019 / 10:24 AM / 3 months ago

Visa innovation centre partners with Israeli paytech firms

TEL AVIV (Reuters) - Visa’s new innovation centre in Tel Aviv said on Wednesday it is partnering with three Israeli payment technology companies.

Shahar Friedman, head of the Visa Innovation Studio, said his company was focused on investments and business partnerships with Israeli companies offering payment solutions.

“Visa cooperates with these start-ups to support their growth and development by leveraging the reach, capabilities, and security VisaNet, the company’s global payment network, offers,” he said.

One startup is ChargeAfter, whose platform enables retailers to offer consumers personalised financing options at checkout from multiple lenders.

The second, Mesh, focuses on making cross-border payments between businesses fast and simple. The third is Zooz, which was acquired by PayU and provides online payment methods to over 300,000 retailers.

In addition, Visa invested an undisclosed amount in Behalf, which offers alternative financing for small businesses, and is studying more investments in Israel, Friedman said.

The company is also hosting several early-stage startups in the innovation centre for up to six months as Visa evaluates their technologies.

Reporting by Tova Cohen; Editing by Steven Scheer

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