Following this announcement, customers and partners in the region will be enabled to use Visa Direct in order to access safe, convenient, and near real-time funds securely and directly to financial accounts. The process is set to take place while using card credentials.
In addition, both businesses will focus on meeting the needs, preferences, and demands of users and clients in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the local industry.
Colombia represents one of the fastest-growing ecommerce markets in the region of Latin America, and the partnership between Visa and Nuvei is expected to improve the manner in which customers develop their payment flows, optimise user experience, as well as operate with maximum efficiency.
Throughout this initiative, Visa Direct customers and partners in the region of Colombia will be enabled to use the capability in order to enable use cases such as person-to-person (P2P) payments, bill pay, cross-border remittances, or funds disbursements directly and securely to an eligible debit or prepaid card.
The Visa Direct capability will be made available to Colombian merchants directly through their already existing single integration to Nuvei’s full stack and secure mobile payments technology platform. In addition, the incorporation will enable Nuvei traders and merchants to provide instant payout capabilities to their users, as well as transactions routed and processed in near real-time.
Furthermore, instant payouts to cards are expected to enable businesses to offer a more quick, secure, and efficient payment experience for users across virtually any industry that is reliant on payouts. The partnership will also continue Nuvei’s strategy of launching optimised payment solutions in the region of Colombia, as well as enabling online businesses to accept card payments from their clients without relying on intermediaries or third-party payment processors. For more information about Nuvei, please check out their detailed profile in our dedicated, industry-specific Company Database.
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