Visa Direct Launches in Europe
November 02, 2017
Direct is a real-time payments platform that allows companies to
leverage Visa’s global reach and scale to transform domestic and
cross-border payments for businesses and consumers. Visa is working with
payment service providers, financial institution clients and strategic
partners to roll out services using Visa Direct.
Visa Direct enables person-to-person (P2P), business-to-consumer (B2C),
and business-to-business (B2B) payments. With Visa Direct, funds can be
transferred into the recipient’s Visa account quickly, conveniently, and
securely – providing instant access to funds2 and the ability to make
purchases at 44 million retail locations worldwide.
Visa has partnered with Worldpay, a global leader in payments processing
technology and solutions for merchants, to accelerate the availability
of Visa Direct to merchants in Europe and subsequently across all of its
markets globally. Once recipient banks make required changes to their
systems, 3 Visa Direct will enable Worldpay’s merchants to send
real-time payments to consumers – improving customer satisfaction.
“For decades, Visa has led the way in transforming the way we pay in
stores and online. Now, we have an opportunity to transform how
consumers and business pay each other in a fast, convenient and secure
way,” said Mike Lemberger, Senior Vice President of Product Solutions,
Visa in Europe. “Visa Direct is a proven platform that enables
technology companies, businesses and financial institutions to meet the
demand for real-time payments, backed by the ubiquity, cost-efficiency
and speed of Visa’s global network.”
Dave Glaser, Chief Product Officer, Global eCom at Worldpay said: “In
recent years, the payments landscape has changed dramatically with
clients and consumers alike expecting to be able to make a payment under
their own terms – whether that is making a real-time payment or using a
specific method. We are proud to be working with Visa on this unrivalled
platform as an early adopter in Europe and other global markets and
believe that Visa Direct is an important step in meeting those needs –
providing both acquirers and merchants with the tools they need.”
Visa Direct is expected to transform payments in Europe by enabling a
range of real-time payment use cases backed by the security and scale of
Visa’s global payment network, including:
Business-to-consumer: enabling businesses to send almost any kind of
payment directly to a Visa account – such as gaming winnings, insurance
payouts, and daily merchant settlements.
• Business-to-business: enabling
businesses to pay freelancers, contractors, and other small businesses –
in real time.
• Person-to-person: enabling
consumers to pay each other quickly, conveniently, and securely, often
through their connected devices – such as when splitting bills or giving
In the US, Visa Direct is already enabling payments for partners such as
PayPal, Braintree, Square Cash, and Stripe.
Visa Direct is one of the many Application Program Interface (API)-based
network capabilities available on the Visa Developer Platform – an open
platform intended to drive innovation in payments and commerce. The
platform is designed to help financial institutions, merchants, and
technology companies meet the demands of consumers and merchants who
increasingly rely on connected devices to shop, pay, and get paid.