Visa invests in Remitly

Thursday 13 May 2021 09:59 CET | News

Mobile-first provider of remittances and financial services for immigrants Remitly has announced receiving new funding from Visa, a world leader in digital payments, according to IBS Intelligence.

The investment showcases the confidence Visa has in Remitly’s vision to provide transformative financial services products for immigrants across the globe. Remitly has also announced extending an earlier partnership with Visa, to integrate Visa Direct, Visa’s real-time push payments platform, to help enable Remitly customers in the United States to send funds to eligible Visa debit cards in countries globally. Through this step, Visa and Remitly will continue to work together to further expand cross-border transfer services and provide customers affordable, convenient, and secure money transfer solutions.

In 2020, the alliance with Visa Direct helped the firm unlock more choices for its customers to send real-time cross-border payments to eligible Visa debit cards. Customers can also track their transfer to know exactly when and where their money will arrive. The partnership between Visa and Remitly began in March 2019, providing customers with another channel to send and receive funds from the US to eligible Visa debit cards across borders. Visa also supports Passbook by Remitly.

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Keywords: investment, partnership, remittance, Visa
Categories: Payments & Commerce | Mobile Payments
Countries: World
This article is part of category

Payments & Commerce