Research from the embedded finance firm, Weavr, has revealed that 89 per cent of B2B SaaS platforms are developing or considering integrated payment features – from card issuance to wallets and embedded billing. The reasons for this vary, but one recurring theme is that companies want to develop their employee benefits. To help firms integrate Visa-powered financial products into their platforms, Weavr has become a Visa Associate Member.
By working with Visa, Weavr is going to help HR tech platforms move away from static, one-size-fits-all benefits and move towards spendable, personalised employee allowances.
In Europe, the discretionary employee benefits market is valued at $162billion annually, part of a broader global employee benefits market worth $377billion – 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 and 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.”
Integrating Visa into the Weavr model
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 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.
“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, CEO and co-founder 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.”
