Digital banking platform myTU has integrated Visa Direct and Mastercard Cross-Border Services into its payment infrastructure.
The move aims to enable real-time international fund transfers to eligible cardholders and bank accounts in supported regions.
The new functionality allows for 24/7 transfers, with many transactions reportedly completed within 30 minutes. The combined reach of Visa Direct and Mastercard Cross-Border Services spans over 190 countries and supports more than 160 currencies. These tools also provide built-in currency exchange features, intended to streamline cross-border transactions for both businesses and consumers.
Increased demand for B2C international transfers
The update comes as global cross-border payments continue to expand at an estimated 5% annually, according to the official press release. Business-to-consumer segments, such as payroll, insurance disbursements, and gig economy payouts, are projected to grow even faster, with forecasts suggesting an 11.1% compound annual growth rate through 2032.
With the integration now in place, myTU enables card- and account-based transfers of up to EUR 20,000 per transaction. According to company officials, this supports use cases including salary payments, contractor payouts, refunds, and other types of disbursements.
Officials from myTU stated that the platform’s infrastructure, which is built on automated systems, requires fewer ongoing updates and can deliver services at a lower operational cost. They also noted that the rollout supports the company’s ongoing effort to expand its payments-as-a-service capabilities for clients such as marketplaces, credit providers, and other financial intermediaries.
The security frameworks of both Visa Direct and Mastercard’s service are incorporated into the offering, featuring tokenisation, fraud detection, and real-time risk analysis. These are designed to help improve compliance and protect transactions.
Company representatives expressed that the update is part of wider efforts to strengthen myTU’s position as a provider of cross-border financial infrastructure.
Recently, The Paypers sat down with myTU CEO and co-founder Raman Korneu, who shared insights into the company’s background, goals, and prospects.
