By merging USI Money’s technology and the Visa Direct platform, the two companies aim to enable customers to send money directly to bank accounts and digital wallets globally. The move comes shortly after dLocal and USI Money teamed up to simplify cross-border payments for customers and clients in Asia and Africa. The collaboration was set to support secure and efficient cross-border transactions by facilitating direct transfers into bank accounts and digital wallets, including Bkash and Nagad in Bangladesh, M-Pesa and Airtel in Kenya and Uganda, or UPI in India.
As part of the collaboration with Visa, USI Money plans to solidify its position as a payment service provider and deliver a range of payout options to address its clients' diverse needs, demands, and preferences. Introducing real-time transfers is set to ensure access to funds while minimising transaction times. In addition, the alliance between USI Money and Visa Direct works towards improving the overall user experience while also enabling customers to manage their financial needs with scaled flexibility and security. This intends to allow individuals to better support their families and navigate the difficulties of international payments.
Furthermore, when commenting on the announcement, representatives from Visa underlined that the collaboration with USI Money enables their company to provide real-time money movement solutions to the latter’s users worldwide. Also, Visa and USI Money plans to continue to expand their operations and introduce additional solutions that can both augment the customer experience and meet the regulatory requirements present in the market. At the same time, USI Money mentioned that the partnership with Visa Direct is set to support their company in launching new initiatives focused on advancing the capabilities of digital payments.
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