Visa has extended the global reach of its Visa money transfer service to greater China and the United Arab Emirates. In addition, Visa announced the launch of a new managed service that reduces the time and development investment required for a financial institution to offer Visa Money Transfer to its customers.
The new service will be initially available in Canada and the US, and is intended to foster more rapid adoption of the service in marketplaces around the world.
Visa money transfer gives consumers a secure way to send funds directly to recipients’ Visa cards domestically and internationally. Senders can initiate a Visa money transfer to make person-to-person payments, send funds to friends or family members, or make account transfers.
Elizabeth Buse, global head of product at Visa, said :“Visa is well positioned to facilitate secure and cost-effective money transfer services by extending the capabilities of our global network . This enables our clients to diversify into new fee-based services, while meeting their customers’ need for a convenient, secure and affordable way to send money domestically and across borders.”
