YAHOO! PayDirect Launches International Online Person-to-Person Payments

Monday 15 December 2003 13:28 CET | News

Yahoo! PayDirect has launched Yahoo! PayDirect International, which allows Yahoo! and Yahoo! en espanol users to securely and inexpensively send money to family and friends in 182 countries throughout the world.

Recipients worldwide will not need a PayDirect account, Internet access or even a local bank account to obtain their funds. The PayDirect International service is safer and more convenient than traditional money transfer methods for both the sender and receiver. After the sender makes the initial remittance, the recipient receives a Yahoo! PayDirect World Card, which is delivered within five days. The PayDirect World Card is a stored-value card that can be used to withdraw local currency at any of the more than 800,000 Cirrus ATMs around the world, just like a traditional ATM card. The recipient doesnt have to have a bank account to receive or use the card. The recipient can, at any time, withdraw the entire balance up to local ATM limits, or make periodic withdrawals until the remittance is exhausted. The sender can re-fill the same card, up to the specified limit, at the Yahoo! PayDirect Web site from their bank account. In lieu of the PayDirect World Card, recipients can also collect funds within minutes at any of the 60,000+ MoneyGram international money transfer locations worldwide. In addition to saving time and money, senders also receive a free five-minute international virtual calling card to contact their receiver by phone after the money is sent. PayDirect International is an innovative product that leverages existing banking and money transfer infrastructure. Key partners include: - HSBC - MoneyGram - DHL - eFunds Corporation - Verso Technologies

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: ,
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce

Industry Events