Weavr works with Visa on embedded finance in employee benefits market

Source: Started PR

Weavr, the embedded finance company, has announced their associate membership with Visa, a global leader in digital payments. As a Visa Associate Member and one of its embedded finance partners in Europe, Weavr is now empowering SaaS companies to integrate Visa-powered financial products into their platforms, focusing initially on the rapidly growing sector of employee benefits.

Globally, employers are transitioning from static, one-size-fits-all benefits to spendable, personalised employee allowances. In Europe, the discretionary employee benefits market is valued at $162 billion annually, part of a broader global employee benefits market worth $377 billion – highlighting significant growth potential.

B2B SaaS platforms operating in HR tech – from benefits platforms to workforce management tools – are well-positioned to meet this demand. However, integrating financial services remains complex and risky for many. Weavr and Visa both aim to simplify this process.

“Embedded finance is fast becoming an important tool for businesses that want to deepen relationships with their customers,” said Mark Wilcocks, VP product and solutions, Visa UK & Ireland.

“Weavr is paving the way for HR platforms to simply integrate these solutions, and we’re excited to enhance this offering with our Visa-powered products.”

“Our membership with Visa signifies a shift in the deployment of embedded finance: it’s not just about adding payments, but about enabling entire propositions and business models in sectors like HR tech,” said Alex Mifsud, co-founder and chief executive officer of Weavr.

“By joining Visa, we can provide SaaS platforms with the confidence and capability to launch card-based employee benefits, supported by trusted infrastructure ready to scale.”

Weavr’s multi-FI embedded finance model – whereby multiple financial partners are integrated into its platform – provides broad geographic coverage and rich financial product sets through a single contract, and a single integration. The addition of Visa allows B2B SaaS platforms to offer seamlessly embedded solutions that include the issuance of diverse types and forms of payment card products, tracking of budgets, and control of spend in real time – all within their existing user experience.

This integration offers clear advantages across the value chain:

• HR tech platforms gain a ready-to-integrate solution to offer flexible benefits cards, backed by Visa.
• Employers can deliver smarter, personalised benefits without the need for spreadsheets, receipts, or reimbursement delays.
• Visa benefits from a scalable distribution model for B2B payments through trusted SaaS providers globally.

The demand is evident: research from Weavr indicates that 89% of B2B SaaS platforms are developing or considering integrated payment features – from card issuance to wallets and embedded billing.

Through working together, Weavr and Visa will bring these features within reach for HR platforms aiming to stay ahead of evolving employee expectations and employer needs.

Further reading: Visa brings Pay by Bank to the UK market