Real-time push payments go zip-zap-zoom with Visa Direct.

Ask around if we want real-time delivery and you will hear a resounding YES!

Nowadays, real-time delivery is a must when we buy goods and services. When it comes to disbursements and movement of money, expectations are exactly the same. But reality used to be slightly different from expectations, especially for disbursements and refunds.

Visa Direct changes this, enabling fund disbursement in less than 30 minutes via Visa’s client financial institutions. Already popular in the US, Visa Direct is now spreading around Europe and UK. Since its launch, Visa Direct is available in 200+ countries, to over 1.9billion consumers across 100+ different settlement currencies through at least 16,000 financial institutions. SafeCharge is one of the first Visa payment partners to have the solution ready for businesses and can support its implementation in a few easy steps.

How does it work?

Visa Direct has been created to speed up bank transfer payment processes by routing transactions using card numbers. It enables seamless bill payment experiences that allow payers to push real-time payments directly to billers’ card accounts. The biggest advantage of using Visa Direct is related to the processing time, if in the past customers had to wait 3-5 days before getting access to funds, with Visa Direct they can see their money in their accounts within a maximum of 30 minutes.

The flow for secure and fast money transfers is as follow:

  • The merchant sends the payment instructions to SafeCharge
  • SafeCharge sends a single authorization and a clearing message to Visa;
  • Visa sends messages as SMS or Dual depending on the issuer, and issuer posts funds to the cardholder account on receipt of authorisation.

Quick disbursement means happy customers who remember how easy it was to deal with that merchant.

What are Visa Direct use cases?

Visa Direct is applicable for almost all online industries, especially for:

  • Insurance, travel, hospitality, retail, ecommerce, gaming, lotteries companies
  • Marketplaces and businesses with complex payment journeys
  • For any daily online merchant settlements
  • Visa Direct has been designed to enhance customer experience in case of general funds disbursement (i.e. insurance claims, suppliers, gaming/lottery winning), cross-border funds disbursement (i.e. investments, corporate, banking) and multichannel disbursement (i.e. gig economy, marketplaces, merchant settlement). 

Why should you start using Visa Direct?

  • To offer a better customer experience: the system uses the existing card on file credentials to provide frictionless payouts to consumers.
  • To be faster than others: In normal cases, disbursement can take up to 5 working days, with Visa Direct the waiting time is less than 30 minutes
  • To avoid risks in terms of security: Visa Direct is a safe way to pay since it is backed by Visa’s payment security
  • To easily reach most of the customers: over a billion Visa cards across Visa’s global network can receive funds in a matter of minutes

Since October 2018 more and more European merchants are choosing Visa Direct and chances are that it will quickly become an industry standard as default payout solution.

SafeCharge is one of the first acquirers to adopt Visa Direct, working closely with Visa to ensure a smooth deployment of the solution for merchants. SafeCharge enables an easy integration via SafeCharge Cashier, its hosted payment page solution or a direct integration via API. For our existing customer, Visa Direct addition can be done instantly.

Interested? Get in touch

 

SafeCharge Limited is an Electronic Money Institution authorised and regulated by the Central Bank of Cyprus and is a principal member of MasterCard, Visa and Unionpay International (CUP). SafeCharge Financial Services Limited is authorised and regulated by the Financial Conduct Authority as a Payment Institution. Both SafeCharge companies are wholly owned by SafeCharge International Group Limited.