The P2P payment solution comes as a result of a partnership between Sacombank, Visa, MoneyGram, and other major banks in Vietnam
MoneyGram International and Visa have launched a real-time peer-to-peer payment solution to Vietnam.
The real-time-peer-to-peer payment solution will enable users to transfer funds to Vietnam from the UK, the US, and other 18 European countries. The solution is secure hence customers can transmit the funds digitally via the MoneyGram website or mobile app.
The latest integration will also improve the customer experience. It will also be pivotal in executing the company’s digital growth strategy in one of the largest money transfer markets globally.
The partnership will drive Vietnam’s economic growth and improve payment transfer processes.
Globally, Vietnam is among the top-10 payment recipients. The move will enable millions of Vietnamese working and living abroad to send funds conveniently and seamlessly back home.
Customers using Visa Direct can transfer up to $2,500 per transaction and $10,000 per day. Up until 30th June 2021, users will send money to a Visa debit card in Vietnam at no charges.
We’ve reported that TransferWise and Visa announced a global partnership.