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Visa and Revolut Team Up for Faster Global Payments
Visa and Revolut have announced a new partnership to revolutionize cross-border transactions for businesses. The collaboration leverages Visa Direct, a real-time payment network, to introduce Instant Card Transfers.
This innovative service addresses the challenges businesses often face when making international payments, such as high fees, slow processing times, and complex requirements like IBAN and BIC codes. With Instant Card Transfers, Revolut Business customers can send and receive funds globally in just 30 minutes, using a simple card number.
The partnership builds on the success of previous collaborations between Visa and Revolut, including peer-to-peer card transfers and the introduction of Visa virtual cards for the B2B travel sector.
Mark Jamison, senior vice president of global Clients, at Visa, said, “We’re delighted that Visa Direct’s global reach, security, and reliability will enable Revolut’s business customers to move money worldwide with speed and confidence. This step deepens our collaboration with Revolut to continue their impressive track record of growth and product differentiation.”
James Gibson, general manager at Revolut Business, also shared his excitement: “We’re excited to launch Instant Card Transfers in the UK & EEA, providing businesses with a simple, instant, and secure way to pay employees, contractors, and customers globally by supporting major card schemes.”
At International Fintech Business (IFB), we help to connect companies to VISA, MasterCard, and China Union Pay payment methods. Our experts can help with any questions you may have. Contact us today!
