Direct Transact links with Visa to boost multi-currency transactions in CEMEA

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Fintech enablement firm Direct Transact (DT) has partnered with Visa to empower banks and businesses across Central Europe, the Middle East and Africa (CEMEA) with multi-currency opportunities. 

The partnership will produce a multi-currency card solution that will be offered by Vivere – DT’s international sister company specialising in the field. 

Moreover, the deal also encompasses that DT will become a Visa Fintech Fast Track partner in the CEMEA region. 

Hennie Dreyer, CEO of DT, commented: “DT and Vivere are very proud to achieve this significant fintech partnership with Visa. We look forward to enabling several banks, brands and fintechs in the CEMEA region to adopt an unparalleled range of payment solutions.”

DT’s current offering includes processing for both local and international transactions, card management services, full card issuing services, as well as core banking for more than 300 products.

In combination with Vivere, and the partnership extension with Visa, banks, fintechs and businesses will now also be offered access to the payment giant’s payment offerings. 

Neil Capazorio, Vivere Global Executive of Product Development, added: “Now businesses in the region will have more cross-border payment opportunities at their fingertips than ever before.”

Previous collaborations between DT and Visa have allowed the roll-out of Banking-as-a-Service (BaaS) in South Africa, resulting in the democratisation of payments in the country enabling small banks to compete with bigger financial institutions through the Visa Ready programme.  

Lineshree Moodley, Visa Country Head for South Africa, commented: “Visa Ready is designed to help partners ensure that their next generation of third-party payment solutions meet Visa’s security standards and specifications when integrated with Visa’s commercial payment solutions, such as enhanced data, virtual card integration, payables automation, payment controls and/or supplier match. And, upon successful integration and validation, partners are Visa Ready.”