Visa Direct facilitates payments to more than a billion cards across the globe and enables the customers to send money in real-time
Image: MoneyGram expand cross-border payment service with Visa Direct. Photo: Courtesy of MBatty from Pixabay.
MoneyGram International has globally expanded its debit card deposit service, making it available in Spain and the Philippines.
The money transfer firm has partnered with Visa’s real-time push payments platform, Visa Direct, to launch its debit card deposit service. It is the first company to offer cross-border transfers from the US using Visa Direct.
Visa Direct SVP and global head Bill Sheley said: “We are committed to supporting the best possible cross-border money transfer experience for consumers and businesses around the world. The initial launch phase with MoneyGram has been a success.
“Based on customer feedback to date and seamless integration of Visa Direct into MoneyGram’s digital network, we look forward to continuing the rapid expansion of this service to new markets worldwide.”
MoneyGram will expand the service to Spain and the Philippines
The company said that Visa Direct facilitates payments to more than a billion cards across the globe, and enables the customers to send money in real-time.
Also, MoneyGram customers can use the app or the MoneyGram website to transfer funds to the recipients’ authorised Visa-branded debit cards, using Visa Direct.
MoneyGram’s decision on the international launch of Visa Direct is based on the success of Visa Direct launched in the US, where approximately 50% of users are new to MoneyGram.
The US-based money transfer company claims that it enables users to reliably and conveniently transfer money for daily needs in more than 200 countries and territories.
Furthermore, its advanced payments platform will leverage the digital and physical network, global financial settlement engine, cloud-based infrastructure with integrated APIs, and compliance.
MoneyGram chairman and CEO Alex Holmes said: “This is an exciting time for us as our business transformation continues to move at a rapid pace as we seek to accelerate digital growth and deliver a streamlined customer experience.
“Cross-border digital growth is a key strategic priority, and we will continue to lead the industry with innovative products and services.”