Visa and KyckGlobal partner to expand push payments in US

Wednesday 15 April 2020 09:34 CET | News

Visa has partnered with payment platform KyckGlobal to expand real-time push payments in the US commercial space. 

Through the partnership with Visa, KyckGlobal hopes to boost the use of push payments beyond person-to-person (P2P) payments and leverages Visa’s real-time push payments solution. Dubbed Visa Direct, the solution has been designed specifically for small-business and consumer payments. 

KyckGlobal is a cloud-based payments platform that allows disbursements across various payment types and compliance for 1099 payments. The technology is used in specialty consumer lending, rent payments aggregation, insurance claims, incentive programmes, among others.

Overall, the growing demand for P2P payments has enabled the banks to make push payments available for businesses in the US. Using push payments, businesses can send money directly to the recipients, to a consumer or small business debit or prepaid card. Push payments do not require routing or account numbers and allow money transfer at a lower cost compared to traditional payment methods.

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Keywords: US, Visa, KyckGlobal, P2P payments, real-time payments, push payments
Categories: Payments & Commerce
Countries: United States
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Payments & Commerce

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