Visa introduced new service to expand real-time push payments

It simplifies SMB and consumer payments for corporate banks, remitters and fintechs

Visa Direct Payouts

Visa introduced new service to expand real-time push payments. Source: pixabay.com

Visa has announced the expansion of Visa Direct, a real-time push payments platform, with the introduction of Visa Direct Payouts.

That would allow Visa’s clients and partners to use a single point of connection to push payments to eligible cards for domestic payouts, and eligible cards and/or accounts for cross-border payments.

As digital commerce accelerates, Visa is innovating to give financial institutions, governments, individuals, and businesses new ways to pay and get paid beyond the card. The launch of Visa Direct Payouts marks an important milestone in Visa’s expansion of its account-to-account capabilities to now reach an additional 2 billion bank accounts around the world. Backed by the operating scale and performance of VisaNet, the solution integrates Visa’s acquisition of Earthport to transform how Visa’s clients deploy and optimize global money movement programs
Bill Sheley, SVP, Global Head, Visa Direct, Visa

According to the report, Visa Direct Payouts APIs reduce complexities often associated with managing and sending money across multiple networks and intermediaries worldwide.

The solution allows moving money globally through a single connection to VisaNet, enabling financial institutions, fintechs, remittance providers, and corporate banks to capture new payment flows for growth.

Besides, Visa Direct Payouts supports real-time domestic and cross-border P2P, B2SB, and B2C use cases. They include insurance disbursements, marketplace seller payouts, providing workers faster access to their earnings, as well as remittances.

We’ve reported that Visa settles payments in USD Coin through the Ethereum blockchain.

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