UAE-based digital wallet etisalat money has partnered with Visa to broaden international money transfer services.
The collaboration will leverage Visa Direct, Visa’s global money movement platform, to support several international payment use cases for consumers and businesses in the UAE. This includes person-to-person remittances and cross-border payments by small businesses
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etisalat money CEO Melike Kara Tanrikulu said: “International money transfers are a critical part of how people and businesses stay connected across borders. As customer expectations evolve, the opportunity lies in offering greater choice and flexibility in how money moves.
“Our partnership with Visa Direct is a strategic step in broadening our international payment capabilities and strengthening our position in the digital financial services market.”
Under the agreement, etisalat money plans to add four international transfer capabilities.
Visa Direct to Card will allow users to send funds to eligible recipients’ cards using card numbers.
The company also plans to introduce Visa+, a service for transfers between eligible person-to-person digital payment applications. The service will allow customers to use a recipient’s phone number rather than traditional banking credentials for eligible transactions.
The partnership will additionally support eligible personal-to-business payments, enabling customers to send funds from personal etisalat money accounts to business accounts internationally. SWIFT transfers will also be added to the app’s cross-border payment options.
The initial rollout will cover key remittance corridors, including India, Egypt, Pakistan, Bangladesh, the Philippines, the UK, and China.
Fadi Moukaddem, senior vice president and group country manager for the UAE, Kuwait and Qatar at Visa, said: “By combining Visa Direct’s global network and capabilities with etisalat money’s digital financial services proposition, we have an opportunity to provide consumers and businesses with greater choice in how money is sent and received internationally.”
The expanded range of payment methods will be available through the etisalat money digital platform, allowing users to choose transfer options based on recipient requirements and payment preferences.
