Using Visa Direct, Visa’s real-time push payments platform, the agreement will enable cross-border remittances; once live, MoneyGram’s service will enable its users to choose their preferred method of sending and receiving funds.
The agreement with MoneyGram is the first cross-border use case for Visa Direct transactions originating in the US. The initial phase includes two priority corridors (US to Mexico and US to Philippines) and Visa and MoneyGram intend to later expand the agreement to enable MoneyGram to speed up transactions to additional markets.
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