{"id":746481,"date":"2023-04-11T07:06:34","date_gmt":"2023-04-11T11:06:34","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/visa-and-partners-bring-interoperability-to-digital-person-to-person-payments\/"},"modified":"2023-04-11T07:06:34","modified_gmt":"2023-04-11T11:06:34","slug":"visa-and-partners-bring-interoperability-to-digital-person-to-person-payments","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/visa-and-partners-bring-interoperability-to-digital-person-to-person-payments\/","title":{"rendered":"Visa and Partners Bring Interoperability to Digital Person-to-Person Payments"},"content":{"rendered":"

<\/p>\n

\nVisa and Partners Bring Interoperability to Digital Person-to-Person Payments<\/p>\n

Introducing Visa+, a new service that will allow friends, family and just about anyone to send and receive money across digital payment platforms<\/i><\/p>\n

SAN FRANCISCO–(BUSINESS WIRE<\/a>)–
\nToday, Visa announced it is partnering with PayPal and Venmo to pilot Visa+, an innovative service that aims to help individuals move money quickly and securely between different person-to-person (P2P) digital payment apps. Later this year, Venmo and PayPal users in the US will be able to start moving money seamlessly between the two platforms.<\/p>\n

This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20230411005225\/en\/<\/a><\/p>\n

\nVisa+ will not require users to have a Visa card; instead, by setting up a personalized payment address linked to their Venmo or PayPal account, individuals using either app will be able to receive and send payments quickly and securely between the platforms.<\/p>\n

\nAs part of a joint effort to build interoperability across payment platforms, Visa partners DailyPay, i2c, TabaPay and Western Union, will also integrate Visa+ within their platforms. Through this collaboration, Visa+ will expand its reach and enable more use cases, including gig, creator and marketplace payouts. Participating digital wallets, neo-banks and other payment apps, reaching millions of US users, will be able to enable interoperability through Visa+.<\/p>\n

\n\u201cConsumers continue to seek simple and seamless ways to digitally move money between friends and family, including the ability to send money between different payment platforms,\u201d said Chris Newkirk, Global Head of New Payment Flows at Visa. \u201cWe are thrilled to partner with like-minded innovators to broaden the reach of P2P payments across platforms. Through this collaboration, Visa+ can help break down barriers for payment app users as they connect, engage and move money.\u201d<\/p>\n

\nAccording to industry group U.S. Faster Payments Council, interoperability is considered one of the most important topics in the payments industry.1<\/sup> Visa+ serves as a bridge that helps bring a new level of convenience, simplicity and reach to the world of person-to-person payments.<\/p>\n

\n\u201cWe are honored to partner with Visa on our mission to make Earned Wage Access available to everyone, everywhere,” said Kevin Coop, CEO, DailyPay. \u201cBy empowering workers with choice and control over their earned pay, we enable them to pay bills on time, spend, save, or invest on their own schedule. And through participating wallets, their earned wages could be available the moment they earn it using DailyPay and Visa+.\u201d<\/p>\n

\n\u201cWe\u2019re excited to be a part of this forward-thinking initiative and to continue to be an innovation partner to Visa,\u201d said Ava Kelly, chief product officer for i2c Inc., adding, \u201cWe continuously strive to help banks, credit unions and fintechs remove friction from the customer experience and make the \u2018how\u2019 of moving money an afterthought.\u201d<\/p>\n

\n\u201cWe started TabaPay with a goal to make instant payments simple, reliable and universal. Visa+ is significant progress towards achieving that goal,\u201d said Tim Astanov, Head of Commercialization at TabaPay. \u201cAs one of the largest processors for Visa Direct, we are excited to expand our relationship with Visa. This new and innovative solution for the fintech community will remove friction and make instant money movement easier for our clients and their customers.\u201d<\/p>\n

\n\u201cWestern Union\u2019s mission is to deliver accessible financial services around the world,\u201d said Thomas Mazzaferro, Chief Data and Innovation Officer at Western Union. \u201cWe are delighted to partner with Visa on its new product launch of Visa+ to deliver upon that mission and offer new innovative payment options for our customers.\u201d<\/p>\n

\nVisa+ is expected to launch for US consumers with select partners in late 2023. General availability is planned for mid-2024. For more information, visit our webpage<\/a> and learn more about how Visa+ works: visa.com\/visa+.<\/p>\n

About Visa<\/b><\/p>\n

\nVisa (NYSE: V) is a world leader in digital payments, facilitating payments transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com<\/a>.<\/p>\n

\n_______________________<\/p>\n

1<\/sup> U.S. Faster Payments Council, 3 Annual Faster Payments Barometer Study<\/a> conducted by FPC and Glenbrook Partners in October and November 2021 with nearly 400 organizations from various industries<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230411005225\/en\/<\/a><\/span><\/p>\n

\nAida Hadzibegovic
\n
AHadzibe@visa.com<\/a><\/p>\n

KEYWORDS:<\/b> California United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Technology Personal Finance Payments Finance Fintech Professional Services Small Business Software Data Management<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
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Visa and Partners Bring Interoperability to Digital Person-to-Person Payments Introducing Visa+, a new service that will allow friends, family and just about anyone to send and receive money across digital payment platforms SAN FRANCISCO–(BUSINESS WIRE)– Today, Visa announced it is partnering with PayPal and Venmo to pilot Visa+, an innovative service that aims to help individuals move money quickly and securely between different person-to-person (P2P) digital payment apps. Later this year, Venmo and PayPal users in the US will be able to start moving money seamlessly between the two platforms. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20230411005225\/en\/ Visa+ will not require users to have a Visa card; instead, by setting up a personalized payment address linked … <\/p>\n

Continue reading “Visa and Partners Bring Interoperability to Digital Person-to-Person Payments”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-746481","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nVisa and Partners Bring Interoperability to Digital Person-to-Person Payments - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/visa-and-partners-bring-interoperability-to-digital-person-to-person-payments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Visa and Partners Bring Interoperability to Digital Person-to-Person Payments - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Visa and Partners Bring Interoperability to Digital Person-to-Person Payments Introducing Visa+, a new service that will allow friends, family and just about anyone to send and receive money across digital payment platforms SAN FRANCISCO–(BUSINESS WIRE)– Today, Visa announced it is partnering with PayPal and Venmo to pilot Visa+, an innovative service that aims to help individuals move money quickly and securely between different person-to-person (P2P) digital payment apps. 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