According to Reuters, Visa worked with Tribal Credit, a US-based small-enterprise payments provider, to help expand credit lines, boost card distribution, and upgrade security measures and encryption for Tribal Credit’s business cardholders throughout Latin America.
Small and medium-sized (SMB) enterprises are approved for Tribal Credit’s Visa-branded Tribal Card using an AI-based underwriting procedure. Businesses can use the interest-free card to issue multicurrency physical and virtual cards to keep track of their spending.
Tribal Credit can expand its operations in Latin America with Visa’s aid, where there is a high demand for lending options among small businesses.
By replacing traditional underwriting with AI-driven procedures, Tribal Credit and other firms, like Brazil’s Open Co, are assisting in the reduction of these hurdles.
Tribal Credit can use Visa’s payment expertise and technology to improve its business cards and reach new customers in Latin America: The fintech said it will focus on Chile, Colombia, and Peru before looking to the wider region.
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