Visa and Revolut Partner for Instant Card Transfers and Global Transactions
Visa has teamed up with Revolut to introduce instant card transfers for Revolut Business customers, thereby enhancing cross-border transactions. This partnership, marked by a global Visa Direct agreement, aims to deliver real-time and secure money transfers worldwide.
Instant Card Transfers with Visa Direct
Specifically, the integration leverages Visa Direct, a network that facilitates real-time payments. As a result, Revolut Business customers can now send money globally using just a card number, with payments arriving in the recipient’s bank account in 30 minutes or less. Currently, this service is available to Revolut Business customers in over 78 countries and supports more than 50 currencies.
Expanding Capabilities and Partnerships
Furthermore, this development builds on Revolut and Visa’s prior collaboration, which enabled Visa Direct-powered card transfers for peer-to-peer payments across nearly 90 regions. Additionally, their partnership included the launch of Visa virtual cards focused on the B2B travel sector. Visa emphasized that Visa Direct’s global reach and security will significantly enhance Revolut’s ability to transfer funds efficiently. Consequently, this move strengthens their alliance and supports ongoing efforts to meet financial industry demands. Revolut highlighted that Instant Card Transfers in the UK and EEA provide businesses with a streamlined and secure method to pay employees, contractors, and customers, thus supporting major card schemes.
Previous Collaboration
In May 2020, Revolut announced a partnership with Visa to expand its digital banking services into five new global regions. Following a successful previous collaboration in Europe, Visa was selected as the Lead Issuing Partner. This agreement facilitated Revolut’s entry into markets including Australia, Brazil, Canada, Japan, New Zealand, Singapore, and the US. Moreover, Revolut planned to extend its services to Argentina, Chile, Colombia, Hong Kong, India, Indonesia, Korea, Malaysia, Mexico, the Philippines, Saudi Arabia, South Africa, Taiwan, Thailand, Ukraine, and Vietnam.