Visa said that money will be sent securely over the Visa network to the eligible Visa debit, credit or prepaid card and then the funds be used at more than 29 million merchants and 1.6 million Visa branded ATMs around the world.
Elizabeth Buse, global head of product at Visa, said: “The expansion of Visa Money Transfer to enable remittances from Australia to eligible Visa accounts around the world is another milestone in the growth of Visa Money Transfer. Travelex’s participation in Visa Money Transfer is a great example of how Visa is expanding its business network to bring the convenience and security of Visa to more consumers in more places around the world.”
Graham Perry, director of global sales and strategic relationships at Travelex, said: “Travelex is pleased to partner with Visa to grow this innovative and convenient international payment method. Having already secured a strong foothold in the foreign currency market, our participation in Visa Money Transfer opens us up to an entirely new segment – those consumers looking to transfer money conveniently from person to person.
“Tapping into Visa’s global network, which connects more than 1.7 billion cards, the Travelex Visa Money Transfer service will provide a competitive alternative for Australian consumers looking to send money overseas.”
Following the new Travelex service Visa Money Transfer programs are now available through 51 sending institutions across 15 countries and territories worldwide, including, Hong Kong, Indonesia, Malaysia Mainland China, Russia, Singapore and the United Arab Emirates.
