Independent digital remittance company Remitly have announced an agreement with Visa to enhance cross-border payments.
The Seattle-based company is adding Visa Direct, Visa’s real-time push payments platform to its Remitly digital money transfer platform.
Remitly will use Visa Direct to unlock more choices for its customers to send cross-border payments in real-time to eligible Visa debit cards in multiple countries around the world.
Initially, the solution will only be available in the United States, with the goal to expand access into other markets worldwide in due time.
“Our highest priority is to create the best possible money transfer experience for immigrant communities and their families around the world. Our customers have unique money transfer needs including a need for more choices in how they send and receive money,” expained Matt Oppenheimer, Remitly CEO and Co-Founder.
“This collaboration with Visa, the world’s leader in digital payments, helps us meet this need with instant scale, security and reach that will help us continue to improve our service.”
Remitly uses mobile technology, machine learning, and direct integrations with partner banks and cash pickup locations to calculate a specific date and time recipients can expect their money to arrive.
This allows customers to track their transfer to know exactly when and where their money will arrive. Remitly plans to use Visa Direct to give its customers the ability to send payments to eligible Visa cards in real time.
“Our new relationship with Remitly underscores Visa Direct’s ability and commitment in enabling the freedom to securely send money around the world,” said Bill Sheley, Global Head of Visa Direct, Visa.
“This collaboration extends Visa’s ability to deliver faster payments to customers, regardless of borders or location.”Visa announced another cross-border partnership with EMQ to offer cross-border payments across the Asia-Pacific region.
