Visa and Revolut team up to introduce instant card transfers for corporate customers
Visa and Revolut team up to introduce instant card transfers for corporate customers
US multinational Visa has teamed up with Revolut, a global financial app, to launch instant card transfers for Revolut Business customers. The partnership marks a significant step in simplifying international transactions for businesses, allowing them to send money around the world in real time with minimal hassle.
Traditionally, international transfers for businesses have been a complex process, often involving high fees, processing over several days and the need to provide certain banking details such as IBAN and BIC codes. These barriers have long been a challenge for companies, especially small and medium-sized enterprises (SMEs) looking to streamline their financial transactions, according to the Visa Navigate website.
With the introduction of instant card transfers supported by Visa Direct, these barriers have been significantly reduced. Revolut Business customers can now make international payments using only a card number, with funds arriving in the recipient's account in 30 minutes or less. This service is available in over 78 countries and supports more than 50 currencies, offering a truly global solution for businesses.
The partnership between Visa and Revolut has grown steadily since their previous collaboration in 2023 to provide peer-to-peer card-to-card transfers in 90 countries and the launch of Visa Virtual Cards for the B2B travel sector in 2024. This latest offering further strengthens their relationship by providing Revolut Business customers with a powerful tool to enhance their global financial transactions.
Mark Jamieson, Senior Vice President of Global Customer Experience at Visa, emphasized the impact of Visa Direct in this partnership, “We are excited that Visa Direct's global reach, security and reliability will enable Revolut's corporate customers to quickly and confidently transfer money around the world. This move deepens our partnership with Revolut to continue their impressive history of growth and product differentiation.”
James Gibson, CEO of Revolut Business, also highlighted the practical benefits for businesses, “We are delighted to launch instant card transfers in the UK and EEA, giving businesses a simple, instant and secure way to pay employees, contractors and customers globally by supporting major card schemes.”
This new feature is expected to be particularly useful for companies across a range of industries, from start-ups paying contractors to travel companies compensating customers for delays. By simplifying the payment process and reducing transaction times, Revolut and Visa are enabling companies to operate more efficiently and flexibly on a global scale.
As the global business environment becomes increasingly interconnected, the demand for fast, secure and cost-effective financial solutions continues to grow. Visa's partnership with Revolut is a clear response to this demand, offering companies an innovative way to easily manage their international payments.
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