UK payments company Checkout.com has expanded its partnership with Visa to introduce Visa Direct’s Push-to-Card solution for both cross-border and domestic transactions in the UAE.
This positions Checkout.com as the first acquirer in the country to offer such a solution, a company release stated.
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It is said to enhance the capabilities of merchants and consumers with instant money transfer options.
Visa Direct is a global money movement platform, connecting over 190 markets and providing access to more than 8.5 billion card, account, and wallet endpoints.
The Push-to-Card solution in the UAE enables users to send funds swiftly to eligible Visa cards, ensuring near real-time fund disbursements.
This service is also said to enhance remittances, peer-to-peer payments, and merchant payouts, offering local and cross-border coverage while maintaining the security and associated with Visa’s international network.
The Push-to-Card solution is designed to improve operational efficiency for merchants by streamlining transactions and removing the necessity for intricate banking details.
Checkout.com is processing over one million Account Funding Transactions (AFT) monthly in collaboration with Visa.
AFTs facilitate real-time account top-ups through secure transactions, which minimises fraud risk.
Visa CEMEA senior vice president and head of commercial and money movement solutions Shahebaz Khan said: “Visa Direct is transforming the way money moves globally, and we are excited to see Checkout.com leverage this technology to meet the evolving demands of businesses and individuals alike by offering them a faster, more convenient, and secure way to send and receive funds.”
Checkout.com MENA general manager Remo Giovanni Abbondandolo said: “By providing seamless, secure, and real-time payout capabilities, we’re empowering merchants with the agility to thrive in this fast-evolving landscape, while effectively meeting the growing consumer demand for speed and convenience. The Push-to-Card solution not only reinforces our commitment to powering payment performance but also showcases our agility in bringing yet another innovation to the UAE market.”
Last month, Checkout.com an alliance with fintech firm noqodi to enhance the payment experience for businesses and consumers in the UAE.
