Visa and Global Partners Expand Access to Cross-Border Payments for Consumers and SMBs
TransferWise latest to simplify international money transfers in
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(Graphic: Business Wire)
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
“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
Visa is working with financial institutions, technology partners and remittance leaders, including EMQ,
“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.
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.
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