Connect with us

Finance

Visa And Thunes Expand Visa Direct’s Reach To 1.5 Billion Digital Wallets

Visa

Visa (NYSE: V) is partnering with Thunes to help individuals and small businesses move money internationally to 78 digital wallet providers, reaching 1.5 billion digital wallets across 44 countries and territories. This partnership will now expand Visa Direct’s reach to nearly 7 billion endpoints, including more than 3 billion cards, over 2 billion accounts and 1.5 billion digital wallets.

For the unbanked individuals in emerging markets, digital wallets are gaining traction as an empowering first entry point to the financial system. Consumers are not required to have a card or account to load or receive funds directly to their digital wallet, opening the potential for greater financial inclusion and enabling underserved populations opportunities to access financial products that meaningfully impact how they live and work.

“From an agricultural worker in Bangladesh to a young professional in London who is looking to send money to family overseas, Visa strives to create more ways for individuals and SMBs to participate in the global economy,” said Ruben Salazar Genovez, Global Head of Visa Direct. “We are thrilled to collaborate with Thunes and help enable quick and simple access to the financial system to more customers around the world who may use digital wallets as their primary financial instrument.”

Through this collaboration, Thunes’ B2B payments platform will connect to Visa Direct, adding a cross-border send-to-wallet capability to 78 digital wallet providers that are already integrated with Thunes. Through a simple integration of Visa Direct, financial institutions, governments, neobanks and money transfer operators will be able to utilize the new functionality to enable consumers and small businesses to send funds to markets across Africa, Asia, and Latin America where wallets may be the go-to payment method.

“We are thrilled that of all the payment companies, Visa, a global leader in payments, is working with Thunes on this launch,” said Peter De Caluwe, CEO of Thunes. “Through the combined power of Visa’s scale and Thunes’ payment infrastructure, this collaboration has the potential to help develop a new global era for inclusive and accessible global payments.”

With the addition of 1.5 billion digital wallets to its reach, Visa Direct now helps provide access to nearly 7 billion cards, accounts and digital wallets combined, across more than 190 geographies, supporting 160 currencies, connecting to 16 card-based networks, 66 domestic Automated Clearing House (ACH) schemes, 11 Real-Time Payment (RTP) networks and five payment gateways.

About Visa Inc.

Visa (NYSE: V) is a world leader in digital payments, facilitating payments transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

About Thunes

Founded in 2016, Thunes is a B2B company that powers payments for the world’s fastest-growing businesses – from Gig Economy giants such as Uber and Deliveroo and Southeast Asia’s super-app Grab to global Fintech leaders such as PayPal and Remitly. Through a single, simple connection, consumers and businesses can send payments to – and get paid in – every corner of the world. Thunes currently supports 79 currencies, enables payments to 130 countries, and helps to accept 300 payment methods. In April 2022, Thunes acquired a controlling stake in a leading AML and Compliance Platform company Tookitaki, which now enables the company’s advanced compliance, anti-fraud, and anti-money laundering (AML) capabilities, setting an international benchmark for sustainable compliance. The company is headquartered in Singapore, with regional offices in London, Paris, Shanghai, New York, Dubai, Nairobi, Arizona, and Barcelona. For more information, visit www.thunes.com.

Source – Visa

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending

Travel1 year ago

Brewing Excellence’ – Emirates offers a world class range of coffee to connoisseurs

Celebrating International Coffee Day on 1 October, Emirates highlights the wide array of artisan coffee served in Emirates lounges and...

Travel1 year ago

Emirates’ Premium Economy to extend to São

Premium Economy to be introduced on Emirates’ A380 service to São Paulo from 19 November, representing the first in Emirates’...

Finance1 year ago

Metro Bank Women’s Team of The Year Announced

Best domestic XI selected by PCA MVP Rankings, powered by Argentex Georgia Adams captains the 2023 Metro Bank PCA Women’s...

Auto1 year ago

Honda and Acura Electric Vehicles Will Have Access to Largest EV Charging Networks in North America Aided by New Agreements with EVgo and Electrify America

New agreements add single-app access to EVgo and Electrify America charging networks, plus roaming partners, through the HondaLink® and Acura...

Technology1 year ago

Oracle Partners with TELMEX-Triara to Become the Only Hyperscaler with Two Cloud Regions in Mexico

Oracle opens new region in Monterrey in partnership with Teléfonos de México (TELMEX-Triara) and continues expanding its global cloud region...

Education1 year ago

Cosmic Web Lights Up in the Darkness of Space

Like rivers feeding oceans, streams of gas nourish galaxies throughout the cosmos. But these streams, which make up a part...

Technology1 year ago

75% of Companies Struggling with IT Operational Challenges in a Hybrid World

HP Inc. (NYSE: HPQ) announced the findings of a new commissioned study, conducted by Forrester Consulting, highlighting the need for...

Finance1 year ago

Visa Program Combats Friendly Fraud Losses For Small Businesses Globally

Visa Inc. (NYSE:V), a world leader in digital payments, spotlighted the evolution of its dispute program, making it easier for...

Food and Beverage1 year ago

New study measures the coca-cola system’s u.s. Economic contributions at $57.8 billion in 2022

In the United States, The Coca‑Cola Company and 64 independently owned bottlers, collectively the Coca‑Cola system, contributed $57.8 billion in...

Finance1 year ago

Court approves ANZ and ASIC settlement relating to credit card cash advance fees being charged in some circumstances

Further to a release on 30 May 2022,[1] ANZ announced that the Federal Court of Australia has approved its agreement...

Translate »
Exit mobile version