Visa extends Visa Direct payments platform
Written by Chris Lemmon
Visa has announced the European launch of Visa Direct – a real-time payments platform that allows companies to transform domestic and cross-border payments for businesses and consumers.
Visa Direct enables person-to-person (P2P), business-to-consumer (B2C), and business-to-business (B2B) payments. With the new platform, funds can be transferred into the recipient’s Visa account instantly and securely.
Visa has partnered with Worldpay to accelerate the availability of Visa Direct to merchants in Europe and subsequently across all of its markets globally. Once recipient banks make required changes to their systems, Visa Direct will enable Worldpay’s merchants to send real-time payments to consumers – improving customer satisfaction.
“For decades, Visa has led the way in transforming the way we pay in stores and online. Now, we have an opportunity to transform how consumers and business pay each other in a fast, convenient and secure way,” said Mike Lemberger, senior vice president of product solutions at Visa in Europe. “Visa Direct is a proven platform that enables technology companies, businesses and financial institutions to meet the demand for real-time payments, backed by the ubiquity, cost-efficiency and speed of Visa’s global network.”
Dave Glaser, chief product officer Global eCom at Worldpay, added: “In recent years, the payments landscape has changed dramatically with clients and consumers alike expecting to be able to make a payment under their own terms – whether that is making a real-time payment or using a specific method.
“We are proud to be working with Visa on this unrivalled platform as an early adopter in Europe and other global markets and believe that Visa Direct is an important step in meeting those needs – providing both acquirers and merchants with the tools they need.”
In the US, Visa Direct is already enabling payments for partners such as PayPal, Braintree, Square Cash, and Stripe.