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