VoPay leverages Visa Direct

Enabled by Visa Direct and made available through VoPay’s financial institution partner, the VoPay Instant solution will help Canadians receive fast disbursements directly into their bank accounts.

In the current circumstances, businesses are more reliant than ever on digital technologies that help reduce face-to-face interaction and safeguard customer and service provider’s health and wellbeing. These technologies include B2B ecommerce, lending platforms, digital identity, and online payment solutions. It is clear that businesses must harness digital technology to supplement and further strengthen their relationships with their customers. In order to create an efficient, effective, and sustainable business, it is imperative that digital solutions unite the front, middle and back offices, and align around the customer.

Payments are the main component of this digital transformation and the demand for immediate access to funds is driving businesses to meet customer needs, as a necessity for business continuity.

COVID-19 has fundamentally changed our understanding of “business as usual”, and exposed the need for real-time payments and access to funds for both businesses and individuals, for businesses continuity and the basic necessities of everyday living. That includes gig workers such as rideshare drivers getting money into their bank account as soon as a trip is complete, the ability for workers to access their funds after every shift through pay-on-demand payroll services, to the immediate delivery of emergency loans 24-hours-a-day.

VoPay Instant addresses these needs by enabling real-time payout experiences with Visa network.