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Tue, 20 Nov 2018

Visa Direct Now Available on Stripe Connect

Visa has enabled its real-time push payment solution on Stripe Connect.

 With this integration, verified sellers using Stripe’s Instant Payout feature will be able to receive payments immediately on their Visa debit cards.

This instant payout option is available to them in addition to a standard payment from Stripe to their bank account, which normally takes a few days to process.

“We’ve worked closely with our partners, including Visa, to enable Instant Payouts for Stripe users. Hundreds of thousands of people deliver, drive and sell on marketplaces across Asia,” said Piruze Sabuncu, Head of Southeast Asia and Hong Kong at Stripe. “And whether they’re working full-time or part-time, getting paid a few days faster can be a big help.”

Stripe Connect. Click to enlarge.

Visa Direct is expected to transform payments by enabling a range of real-time payment use cases backed by the security and scale of Visa’s global payment network, including:

 Business-to-consumer: enabling businesses to send almost any kind of payment directly to a Visa account – such as gaming winnings, insurance payouts, and daily merchant settlements.

 Business-to-business: enabling businesses to pay freelancers, contractors, and other small businesses – in real time.

Person-to-person: enabling consumers to pay each other quickly, conveniently, and securely, often through their connected devices – such as when splitting bills or giving gifts.

“The payment landscape is evolving rapidly, which means that consumers and merchants are expecting faster and more secure ways of payments. We are also living in an app-based economy where digital payments is at the centre of the consumer experience. Hence, the partnership with Stripe to launch Visa Direct in Singapore helps to create a better payment experience for consumers and merchants through this real time disbursement solution,” said Kunal Chatterjee, Visa Country Manager for Singapore & Brunei. “With the introduction of Visa Direct, we can help businesses across multiple industries enhance operational efficiency and strengthen their competitive advantage.”

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