Visa Inc. V inked a five-year partnership with the U.K.-based payment platform Paysend for international money transfers through Visa Direct, Visa's real-time money movement network.
The deal will enable Paysend's customers globally to send money in real-time to eligible Visa cards across 170 countries and territories.
Paysend's partnership with Visa aims to revolutionize global money transfers significantly beyond the U.K.
They will jointly promote speedy payments to Visa cards, focusing on routes like the USA to Latin America, including the USA-Latin America corridor.
The announcement builds on the existing relationship between Paysend and Currencycloud, part of Visa Cross-Border Solutions.
Visa and Paysend had inked an initial collaboration in February 2022.
"Through our expanded collaboration with Paysend, together we're enhancing domestic and cross-border money movement with the innovative payment capabilities and value added services offered through Visa Direct," said Ruben Salazar, Global Head of Visa Direct.
Price Action: V shares are trading lower by 3.33% to $239.57 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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