Embedded finance firm Weavr has partnered with US-based digital payments company Visa to expedite the adoption of embedded finance solutions among business-to-business (B2B) software-as-a-service (SaaS) companies.

The integration of Weavr’s embedded finance solutions with the capabilities of Visa is expected to provide easy-to-deploy and cost-effective financial plug-ins that are easily embedded into the software.

According to Weavr, embedded finance allows B2B software firms to combine financial services with their software to scale the existing product capabilities and launch entirely new offerings and services.

Besides, it is believed to help software businesses attain new revenue streams and customer retention.

Established in 2018, Weavr offers plug-and-play finance solutions that will allow enterprises to easily embed financial services into their software.

Weavr co-founder and CEO Alex Mifsud said: “We’re delighted to make this important announcement alongside Visa, which will help to extend embedded finance opportunities to more businesses and more regions than ever before.

“I have been impressed by Visa’s range of payments capabilities and believe that our collaboration will deliver embedded-finance solutions to more established businesses and corporations, enabling them to find new routes to customer growth and to unlock new revenue streams.”

Weavr said that the plug-ins offered through the collaboration are financial products that are embeddable by design.

The plug-ins will combine everything an organisation requires to enable specific use cases in segments spanning ERP solutions, HR management platforms, B2B commerce and others.

Besides, it will allow full control over the user experience for the end customers.

The financial plug-ins will cover areas of compliance, regulation and data security.

Visa Europe strategic partnerships senior vice president Emma Kerr said: “Expanding access to financial tools and services is core to Visa’s purpose –uplifting everyone everywhere –and we’re excited to work with companies like Weavr in bringing new solutions and approaches to this challenge.”