Visa and Global Partners Expand Access to Cross-Border Payments for Consumers and SMBs
10 Décembre 2019 - 1:00PM
Business Wire
TransferWise latest to simplify international
money transfers in Europe with Visa Direct
In today’s connected world, moving money for consumers and
businesses should be as simple and routine as sending a text
message. Yet, in many cases, consumers and businesses still rely on
manual, paper-based processes, high fees and cash to send money to
friends, families and business partners. Through Visa Direct, a
real-time1 push payment solution that has processed 2 billion
transactions2 in the past year, Visa is working with partners and
clients around the world to simplify, digitize and drive costs down
in the rapidly-growing3 remittances space.
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Adding to its current ecosystem of remittance partners around
the world, Visa today announced that TransferWise, a global
technology company for international payments, will begin offering
its customers an additional capability to quickly and securely move
money to debit cards in real-time. The integrated service,
initially available in Spain, is also planned to go live in
Romania, Hungary, Czech Republic and Bulgaria. TransferWise gives
customers a clear understanding of their fee structure upfront,
providing transparency into the cost associated with sending and
receiving money internationally. TransferWise plans to continue to
collaborate with Visa and scale its offering using Visa Direct,
throughout Europe and globally in 2020.
“Technology is bringing us closer together, yet there are still
challenges that it hasn’t solved when it comes to individuals and
small businesses moving money around the world,” said Bill Sheley,
SVP and Global Head of Visa Direct, Visa. “The TransferWise
collaboration is the latest addition to Visa’s efforts to help our
clients enable individuals and small businesses to send and receive
international payments quickly and securely by utilizing the power
of Visa Direct.”
Visa is working with financial institutions, technology partners
and remittance leaders, including EMQ, MoneyGram, and Remitly, to
bring Visa Direct functionality to market around the world –
reaching accounts via push to card capabilities in over 200
countries – all via a single connection point.
“TransferWise is on a mission to move money around the world in
a cost efficient, quick and transparent way,” said Kristo Käärmann,
CEO and co-founder of TransferWise. “Integrating Visa Direct
further eases the transfer process and brings us another step
closer to achieving our mission.”
Visa recently acquired Earthport, one of the world’s largest
independent ACH networks. The combined offering, which will bring
together Visa’s existing capabilities and the Earthport network,
will give Visa Direct clients the ability to push payments to the
majority of the world’s banked population – through a single
connection. This is a key element of Visa’s goal to being a single
connection point – a network of networks – for thousands of
financial institutions and billions of user endpoints around the
world.
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments.
Our mission is to connect the world through the most innovative,
reliable and secure payment network - enabling individuals,
businesses and economies to thrive. Our advanced global processing
network, VisaNet, provides secure and reliable payments around the
world, and is capable of handling more than 65,000 transaction
messages a second. Our relentless focus on innovation is a catalyst
for the rapid growth of digital commerce on any device for
everyone, everywhere. As the world moves from analog to digital,
Visa is applying our brand, products, people, network and scale to
reshape the future of commerce. For more information, visit
usa.visa.com/about-visa.html,
https://usa.visa.com/visa-everywhere/blog.html and @VisaNews.
1 Actual fund availability depends on receiving financial
institution and region. Visa requires fast-funds enabled issuers to
make funds available to their recipient cardholders within a
maximum of 30 minutes of approving the transaction. Please refer to
your Visa representative for more information.
2
https://s1.q4cdn.com/050606653/files/doc_financials/2019/q4/CORRECTED-TRANSCRIPT-Visa,-Inc.(V-US),-Q4-2019-Earnings-Call,-24-October-2019-5-00-PM-ET.pdf
Data refers to Visa’s Fiscal Year 2019, which ended September
2019.
3 World Bank, Record High Remittances Sent Globally in 2018
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191210005409/en/
Visa Inc. Caylah Novak cnovak@visa.com
Visa (NYSE:V)
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