SafeCharge, Visa to provide Setoo with streamlined insurance payouts

Thursday 11 July 2019 14:36 CET | News

SafeCharge has announced a new collaboration with Visa Direct, Visa’s real-time push payments platform, aiming to power streamlined payouts for Setoo.

Visa Direct is a real-time push payments platform that allows for funds delivery directly to financial accounts using card credentials. Visa Direct enables businesses to push funds disbursements and remittances to cards within a maximum of 30 minutes of approving the transaction. The result is a streamlined experience for customers.

SafeCharge is focused on making payment innovation available for businesses to embrace fast commerce transformation. Visa Direct can be used for payments across a number of use cases, including cross-border payments, insurance disbursements, and contractor payments for gig economy jobs.

Setoo is amongst the early innovators adopting the technology in the insurance industry. The transfer flow is taking place as follows: the merchant sends the payment instructions to SafeCharge, SafeCharge sends a single authorisation and a clearing message to Visa, and the issuer posts funds to the cardholder account on receipt of authorisation.

For more information about SafeCharge, please check out a detailed profile of this company in our dedicated, industry-specific online company database.

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Keywords: SafeCharge, Visa, Setoo, payouts, collaboration, payments platform, real-time payments
Countries: World

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