Acquisition by Visa signals a new chapter for Fraedom
Fraedom CEO Kyle Ferguson has expressed his excitement at the opportunity to grow the payment solution providers global footprint following Visa’s acquisition.
Fraedom has been Visa’s strategic partner in the commercial space for nearly a decade, helping Visa and its financial institutions clients service its customers around the world. The acquisition will give commercial issuers around the world access to new and improved ways to track corporate expenses and turn traditionally manually processes into streamlined global operations for commercial clients.
Ferguson said: “With this acquisition, Visa is highlighting its commitment to commercial solutions and to accelerating our growth. It should come as no surprise that their primary objective will be to invest in our platform to generate B2B solutions. This deal is about driving growth that will come from delivering more secure, seamless commercial payment experiences.”
In light of the acquisition, Fraedom will operate and serve all its clients as a wholly owned subsidiary of Visa. Its platform will continue to support a broad range of solutions from expense management through to payment brands and partners across the B2B payments space.
Fraedom’s immediate area of focus after the acquisition has been completed will be to maximise the best of both organisations solutions and talent capabilities.
“We are continuously looking to invest in technology and talent in order to maintain our leadership in today’s rapidly-evolving commercial payments space,” added Ferguson. “With Fraedom joining the Visa family, Visa’s commercial issuers will have even greater access to new and improved ways to track corporate expenses and consolidate traditionally manual processes into streamlined global operations for commercial clients.”