Wednesday , May 22, 2024

For Real Time Payouts, Remitly Adds Visa Direct in Canada

Remitly Global Inc. Thursday announced it is making Visa Direct, Visa Inc.’s real-time push-payments platform, available to its customers in Canada. The deal expands Remitly’s online remittance service in Canada by providing Visa Direct as a payout option, the company says.

With Visa Direct, Remitly customers in Canada can now send funds to recipients in more than 100 countries directly to Visa credit, debit, or prepaid cards, bank accounts, and digital wallets, as well as via cash payouts. Personal remittances sent from Canada total $6.5 billion annually, according to the World Bank.

Remitly customers in Canada can send money internationally by providing the recipient’s name and his or her 16-digit Visa debit card number. Consumers and businesses can send money through Visa Direct to more than 1 billion eligible Visa card accounts. Overall, Remitly customers in 18 countries can send money globally using Visa Direct.

“Adding Visa Direct as a payment option for our customers in Canada helps us deliver on a commitment to provide locally relevant payment options to customers around the globe,” Milkana Brace, vice president, Global Disbursement Network, for Remitly tells Digital Transactions News by email. “The relationship opens the door for us to serve new customers in the market and improve optionality for our existing customers. Visa has been and continues to be a strategic partner to Remitly, as we look to transform digital money movement globally.”

Looking ahead, Brace says Remitly is seeking payment channels that enable locally relevant options for customers. Remitly’s remittance services are available in more than 170 countries.

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