Visa Direct | Use cases for individuals and businesses (2024)

FAQs

What is Visa Direct used for? ›

Visa Direct can help businesses provide a fast, secure and convenient way for their workers, clients and customers to access their funds or earnings through eligible debit cards.

Visa Direct helps enable money movement to eligible debit cards domestically, and to eligible debit cards and accounts cross border. Visa B2B Connect enables b2b, cross-border, higher value payments to accounts on the same or next day through a single connection.

The difference between Visa Checkout and Visa Direct is that Visa Checkout acts like a virtual wallet where Visa Direct does P2P payments and funds disbursem*nts. Below is some more information on what each API does.

Visa Direct had 7.5 billion transactions, up 19% year over year, he said, and the total “wallet reach” of Visa Direct now stands at more than 2.5 billion. “Cross-border P2P transactions grew 65% year over year,” he added.

Visa Direct is Visa's version of Zelle or Venmo, it's the instant-sending tool created by the credit card giant that gives card-holders the ability to send payments immediately.

Using a one-to-many connection, Visa B2B Connect reduces the number of correspondent transfers required to process a payment between participants. This allows for more cost-effective cross-border transactions, delivered in full value to the beneficiary bank, with rich data enhancing payment reconciliation.

Visa Direct transactions grew by around 20% to 2.2 billion, with P2P cross-border transactions growing by 65% YoY. International transaction revenues rose by 8% YoY to $3bn, compared to a 29% growth in Visa's Q1 2023.

Visa Direct makes it possible for fast, innovative and secure payments to travel across the world.

Discover the Visa Direct service limits for all transactions to a card: Limit per transaction: 1,000 USD. Limit per day: 2,500 USD. Limit per week: 5,000 USD.

Does Bank of America use Visa Direct? ›

The service relies on the Visa Direct network to enable fast payments to debit and prepaid cards and bank accounts in 170 countries, though only cards can be accessed within the United States. Mastercard Inc. offers a similarly designed service called Mastercard Send.

Visa Direct is helping create the infrastructure necessary for a secure, connected global economy. Built with Visa's risk management products, Visa Direct benefits from our relationships with select partners who are innovating at the forefront of identity management, fraud management, and artificial intelligence.

Visa Direct provides Originators (financial institutions and eligible third parties such as person-to-person payment service providers, merchants, corporations, and other payment service providers) with a way to connect to Visa, get access to information, and push payments directly onto Visa cards.

Introduction. Visa Direct Payouts is a service that allows Visa financial institutions and financial institution partners to send push-to-account (P2A) and push-to-card⁴ (P2C) payouts (i.e. payment transactions) in different markets around the world.

Visa Direct is a product that powers P2P payments for businesses. Therefore, consumers such as you and me will not pay transaction costs on Visa Direct. However, if you are a businesses, then there may be a cost associated with the ability to initiate a Visa Direct P2P transaction.

A real-time payment solution that enables fast, secure and reliable financial transactions. It allows instant transfer of funds using a mobile phone number or email, and is widely used for P2P, B2C and government disbursem*nts.

Visa Direct Payouts provides Originating Entities with a mechanism to push payments directly into bank accounts. This push payment capability is delivered through the use of the Payouts APIs.

Get an estimate: select a destination country and send amount. Choose a transfer method: select 'Send to card' to send money to an eligible Visa card. Start your transfer: confirm your personal information, select an existing recipient or enter your new recipient details and confirm your transaction.