admin In a significant step toward simplifying international money transfers, CARD.com, a leading FinTech specialising in mobile banking and card services, has partnered with Visa Direct to enable seamless cross-border payments for its users. This collaboration marks a significant enhancement in global financial services, allowing users to make fast, secure, and convenient international transactions.
Expanded Cross-Border Payment Capabilities
With this partnership, CARD.com users can now access a wide range of payment options:
- Card-based payments are now available in more than 180 countries and territories.
- Account transfers can be made in over 90 countries.
- Wallet transactions are enabled in more than 50 countries.
Paul Neustaedter, CEO of CARD.com, emphasised the importance of this collaboration: “This collaboration allows us to expand our financial services on a global scale, offering fast, convenient, and secure international payment options to meet the needs of our growing user base.”
Powered by Visa Direct, the partnership leverages real-time payment infrastructure to streamline cross-border transactions. Visa Direct’s capabilities ensure that remittances and transfers are not only fast but also secure, giving users more control and reliability in sending or receiving money internationally.
Addressing Global Payment Challenges
Visa Direct, which enables real-time payment solutions, has been at the forefront of transforming how money moves globally. Yanilsa Gonzalez-Ore, Senior Vice President and Global Head of Visa Direct, highlighted the collaboration’s impact: “Visa Direct is transforming how people move money around the world, and we are excited to partner with CARD.com to deliver an improved cross-border payment experience.”
Visa Direct has reported significant growth, with transactions increasing by 38% in the fiscal fourth quarter of 2023 to 2.8 billion, totaling nearly 10 billion transactions for the year. This growth reflects the rising demand for real-time solutions that address critical challenges in global money movement, such as speed, cost, and transparency.
As payment networks like Visa continue to expand their capabilities beyond traditional card payments, collaborations like this offer consumers, businesses, and governments a reliable and efficient way to navigate the complexities of cross-border transactions. This partnership positions CARD.com as a key player in the evolving digital payment ecosystem.
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