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Alacriti, a provider of cloud-native payment and money-movement services, has integrated Visa Direct into its Orbipay Payments Hub. The integration will enable financial institutions in North America to provide card-based real-time payments, even if they do not have a connection to a real-time payments hub, such as the RTP network or FedNow, the company says.
With Visa Direct, financial institutions can push funds directly to eligible Visa debit cards, bank accounts, or digital wallets in more than 195 countries and territories and in more than 150 currencies, according to available data.
In 2024, Visa Direct, which enables direct-to-card funding, redefined the speed of its transactions to no more than one minute. The move positioned Visa Direct with other real-time networks.
Use cases for Visa Direct, which reaches more than 95% of the world’s banked population include real-time payouts for insurance claims, earned-wage access, contractor payments, account funding at onboarding, bill sharing, and remittances.
In addition, financial institutions will reportedly receive in-depth reporting and analytics for payments across all rails and money movement applications. Financial institutions can integrate Visa Direct through the Orbipay Payments Hub without changing core systems, which simplifies integration and enables financial institutions to bring Visa Direct to market faster, Alacriti says.
“Visa Direct is an important piece of a modern real-time payments infrastructure because it gives financial institutions the ability to deliver faster payments in supported markets—even if they aren’t directly connected to an instant payment rail,” Mark Majeske, senior vice president for Faster Payments at Alacriti says in a statement. “By offering Visa Direct through our Orbipay Payments Hub, banks and credit unions can provide more choice, more speed, and maintain a single, unified view of every payment source across their ecosystem.”
Alacriti expects clients to begin rolling out Visa Direct at the end of the year.
