Visa and Revolut sign global Visa Direct agreement to deliver real time cross-border transactions for business customers
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Visa has collaborated with Revolut, the global financial app with more than 45 million retail customers and hundreds of thousands of business customers worldwide, to enable Instant Card Transfers for Revolut Business customers.
International transfers for businesses have traditionally come with a list of requirements that can differ per country, from expensive transfer fees and a time lag of several days to the need for specific information such as IBAN and BIC.
Powered by Visa Direct, a network that enables real-time payments , Revolut Business customers can now access Instant Card Transfers, sending money across the globe in real-time and securely.
From a startup paying for a contractor’s services to a travel firm paying customer delay compensation, Revolut Business customers now only require a card number for transactions. The payment then arrives in the recipient’s account within 30 minutes or less. This cost-effective and unique solution for Revolut Business customers is available in over 78 countries and supports over 50 currencies.
This global agreement follows Revolut and Visa’s collaboration to offer card transfers powered by Visa Direct for peer-to-peer payments to ~90 countries in the world in 2023 and the launch of Visa virtual cards for business focused on the B2B travel sector in 2024.
Mark Jamison, Senior Vice President, Global Clients, at Visa: “We’re delighted that Visa Direct’s global reach, security, and reliability will enable Revolut’s business customers to move money worldwide with speed and confidence. This step deepens our collaboration with Revolut to continue their impressive track record of growth and product differentiation.”
James Gibson, General Manager at Revolut Business, also commented: "We're excited to launch Instant Card Transfers in the UK & EEA, providing businesses with a simple, instant, and secure way to pay employees, contractors, and customers globally by supporting major card schemes."
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