American digital remittance company Remitly has partnered with Visa to give its customers the option to send payments directly to recipients’ debit cards.
To carry out such remittances, Remitly will leverage Visa’s real-time push payments platform Visa Direct.
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Initially, only users in the US will able to transfer money to debit card holders in other nations.
However, the companies intend to add more countries to the sender list in the near future.
Remitly co-founder and CEO Matt Oppenheimer said: “Our highest priority is to create the best possible money transfer experience for immigrant communities and their families around the world. Our customers have unique money transfer needs including a need for more choices in how they send and receive money.
“This collaboration with Visa, the world’s leader in digital payments, helps us meet this need with instant scale, security and reach that will help us continue to improve our service.”
Remitly directly integrates with partner banks and pickup locations using mobile technology and machine learning to provide fund recipients with an estimated date of fund arrival.
Remitly employs more than 800 people globally and transfers over $6bn in annualised volume through its global money transfer network.
Its technology eliminates the requirement of forms, codes, agents and other fees typically associated with the international money transfer process.
