Visa Europe has expanded its peer-to-peer payments service offering into most countries where Visa has presence via Visa Personal Payments, to be renamed as Visa Direct across Europe.
Visa Direct will enable Visa Europe Member banks to offer their card holders the ability to transfer money securely to nearly two billion Visa card holders across the world using a mobile number or a Visa card number.
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Visa Europe has also partnered with Singapore-based fastacash to enhance Visa Direct’s peer-to-peer domestic and international money transfer service, bridging the gap between consumers and banks and payment service providers.
Combination of fastacash’s fastalink technology with Visa Direct will allow banks to offer money transfers to any Visa card, enabling end-users to make these transfers across social networks or messaging platform.
The expanded Visa Direct service, which is due for launch in summer 2015, will be available in 20 languages, supporting multiple currencies.
Visa Europe’s Sue Onians said: "Consumers want to be able to transfer money easily and securely across geographic borders without limitations, to their friends and family. Visa Direct from Visa Europe enables this while our partnership with fastacash will make this even easier through social networks."
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By GlobalData
