Technology Companies and Financial Institutions Select Visa Direct for Real Time Payments
Leading US Banks, Early Warning,
The Visa Direct platform has the ability to transfer funds within minutes to and from more than 200 million Visa debit cards in
Leading players are already using Visa Direct to offer a range of innovative real-time payment services – from mobile P2P payments between friends to business disbursements for sharing-economy services such as ride-sharing companies. For example, Early Warning, a company made up of leading financial institutions offering real-time payments, authentication and risk mitigation, will enable real-time P2P payments on its clearXchange network using U.S.-issued debit cards through the Visa Direct platform.
“We’re always looking at ways we can deliver convenient, fast and secure payment solutions to meet our customers’ needs,” said
“With Visa Direct, our clients and partners can greatly improve the way their customers can send and receive money – making their bank cards that much more valuable,” said
In the U.S., the real-time “push” payments market segment has been estimated to be valued at more than
The Visa Direct platform is available in more than 200 markets around the world and can be potentially used to reach more than three billion consumer card accounts. Available through a comprehensive Visa Direct API library, financial institutions and technology partners can quickly build real-time payment solutions through a feature-rich suite of web services on the Visa Developer Platform.
1 Visa requires U.S. issuers to make funds available to its cardholders within a maximum of 30 minutes.
2 Year 2015 sizing is estimated to be
$1.2T (source: Aite P2P Payments, Nov 2015)
$6.1T (sources: Aite 2015 B2C Disbursements, Dec 2015; Bureau of Labor Statistics, Sept 2015; Government Accountability Office, Contingent Workforce Study, 2015; Morgan Stanley, Global Marketplace Lending May, 2015; Insurance Information Institute, 2014; Oxford Economics, 2014)
$1.8T (source: Aite 2015 B2C Disbursements, Dec 2015)
$1.0T (sources: Statista, Annual Retail Industry Sales, 2014; eMarketer, 2014; National Retailers Federation, 2014; Morgan Stanley, Global Marketplace Lending May, 2015)
Sarah Hamblen, 415-728-7268