Visa Cloud Connect underpins a new global agreement between Visa and TransferWise that will enable the expansion of TransferWise’s multi-currency debit cards in Asia Pacific, Europe, Latin America and the Caribbean, the Middle East, UK, and US. Visa’s new platform provides a secure cloud-based connection to VisaNet, including a unified certification and testing framework, Visa-hosted security services such as transaction encryption and PIN key management, and simplified settlement in local markets.
The TransferWise multi-currency account allows consumers and businesses to hold and convert 55 currencies at the real exchange rate. With Visa Cloud Connect, TransferWise can establish a secure connection to VisaNet through its cloud provider. This way, they eliminate the need for costly local connectivity and speed up TransferWise’s roll out plans.
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