Revolut And Visa Team Up To Enhance Business Payments
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Revolut and Visa are collaborating to offer instant card transfers for customers of Revolut. The new product will utilize the Visa Direct system. According to the announcement, the collaboration will solve the complexity and delay issues associated with international payments.
The two firms say the partnership will revolutionize cross-border payments for customers, making it easier for them to carry out transactions and send funds.
Revolut says the integration of Visa Direct into its platform will enable firms to easily transfer funds to more than 78 countries within 30 minutes. The new system supports over 50 currencies. This makes it easier for companies and other business entities to operate globally without the normal issues associated with international transfers.
Visa Direct Will Simplify The Payments Process
The two companies also noted that Visa Direct will simplify the payment process since it requires only the card number for transactions. Only the card number will be needed no matter the type of service it wants to be used for. This will not be the first time Revolut and Visa have collaborated. Last year, both firms partnered to launch the Visa Direct-powered peer-to-peer payment systems available in over 90 countries.
Additionally, both firms collaborated to launch some virtual cards to meet the demands of the B2B travel industry. This cemented their relationship within the financial technology industry.
The latest collaboration comes only a few days after Revolute added BigCommerce to its Business Payment Gateway to streamline online payments. The collaboration allows e-commerce companies to support different payment methods. It also enables them to take advantage of next-day settlements and manage their transactions easily.
Visa Expands Partnership With Wirex
The BigCommerce platform also gives businesses the ability to offer better checkout to their users. With the new gateway, merchants can offer more than 25 currencies.
It is specially designed to offer low transaction fees and high payment success rates. Also, the platform ensures proper monitoring of fraudulent transactions and eliminates extra charges for refunds.
In another development, Visa has announced that it is expanding its collaboration with Wirex as it plans to adopt web3 payments across the European Economic Area and the UK. The platform wants to reduce payment challenges.
Via the Visa payment network, the platform wants to offer better payment services to merchants. Both firms have confirmed the partnership as they set to grow the web3 payments industry.
