The stock of Visa Inc (NYSE:V) closed at $110.98 losing 0.08% in yesterday’s trading session. This company has made the announcement regarding the unveiling of Visa Direct. Visa is at the moment working with financial institution clients, payment service providers and strategic partners to roll out services using Visa Direct.
Visa Direct enables business-to-consumer (B2C), person-to-person (P2P), and business-to-business (B2B) payments. With it, it is possible to make money transfers into the recipient’s Visa account quickly, securely and conveniently. Visa is collaborating with Worldpay in a bid to accelerate the availability of Visa Direct to merchants across its wide array of markets around the world. It is expected that most of the banks will soon implement the required changes to their systems and its main goal will be to help improve customer satisfaction.
The Senior Vice President of Product Solutions for Visa in Europe, Mike Lemberger, opined “For decades, Visa has led the way in transforming the way we pay in stores and online. Now, we have an opportunity to transform how consumers and business pay each other in a fast, convenient and secure way.”
He added to say that Visa Direct had over the years proved itself to be a top platform enabling businesses, technology companies and financial institutions meet the real-time payments demands. It is accompanied by cost-efficiency, ubiquity, and speed of Visa’s worldwide network.
The Chief Product Officer of Global eCom at Worldpay, Dave Glaser outlined that the recent times had witnessed the payments landscape change dramatically with both consumers and clients alike hoping to get to that point where they will be able to make payments under their own terms.
He added that they took great pride in the fact that they were working with Visa on an unrivalled platform and that made it easy for them to serve both merchants and acquirers with the wide range of tools that they needed.
If everything moves according to plan, Visa Direct might turn out to be the one to transform payments in Europe considering that a number of transformational changes are currently underway.