Visa Expands Global Money Movement Capabilities Beyond the Card with Visa Direct Payouts
Simplifies SMB and consumer payments for corporate banks, remitters and fintechs
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Visa Expands Global Money Movement Capabilities Beyond the Card with Visa Direct Payouts (Graphic: Business Wire)
“As digital commerce accelerates,
Flexible Visa Direct Payouts APIs reduce complexities often associated with managing and sending money across multiple networks and intermediaries worldwide. The solution provides operational simplicity to move money globally through a single connection to VisaNet, enabling financial institutions, fintechs, remittance providers and corporate banks to capture new payment flows for growth and value creation. Visa Direct Payouts supports real-time2 domestic and cross-border person-to-person (P2P), business-to-small business (B2SB) and business-to-consumer (B2C) use cases, such as insurance disbursements, marketplace seller payouts, providing workers faster access to their earnings, as well as remittances.
Visa’s clients and partners around the world are launching new money-movement programs enabled by Visa Direct Payouts.
Standard Chartered Bank (Hong Kong) Limitedis enhancing its digital International Transfer services for its retail banking customers
- MoneyGram is launching an enhanced money-movement optionality for its customers who are sending and receiving money to loved ones across borders
Visafintech partner, enables a variety of B2SB and B2C use cases through its payments engine, including insurance claims payouts, fast funds settlement for SMB marketplaces and quick access to earned wages for independent contractors and hourly workers
Visa Direct Payouts Client and Partner Quotes
“With 152% year-over-year cross-border digital transactions growth for MoneyGram Online in 2020 and an impressive 650% transaction growth for Visa Direct in the fourth quarter3, consumer demand for our digital P2P payment capabilities continues to skyrocket,“ said
“Our clients work with a diverse set of payees, including contractors and gig economy workers, each with different payment needs, such as a commission payment, expense reimbursement or insurance claim payout,” said
With the addition of Visa Direct Payouts, Visa Direct now provides multi-rail access to 5 billion cards and accounts combined across more than 200 geographies, supporting 160 currencies, connecting to 16 card-based networks4, 65 domestic Automated Clearing House (ACH) schemes, seven Real-Time Payment (RTP) networks and five payment gateways. For Visa Direct transactions,
For more information and to connect with our team, please visit the Visa Direct Payouts page.
1 Actual fund availability varies by receiving financial institution, receiving account type, region, and whether the transaction is domestic or cross-border.
2 Actual fund availability varies by receiving financial institution, receiving account type, region, and whether the transaction is domestic or cross-border.
3 Source: https://ir.moneygram.com/news-releases/news-release-details/moneygram-international-reports-fourth-quarter-and-full-year-5
View source version on businesswire.com: https://www.businesswire.com/news/home/20210330005157/en/