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Faster payments continues to be among the more advanced payment options coming from acquirers and processors. Now, Nuvei Corp. is among the first to integrate Visa Direct for Account, the processor says.
Announced Thursday, the integration means clients on the Nuvei platform can use Visa Direct for Account to send funds directly to bank accounts in eligible countries. Montreal-based Nuvei says the service expands its faster-payments options. Nuvei will launch the service initially in Europe, with more launches planned in 2026.
Visa Inc. launched Visa Direct in 2011 as a real-time, card-based disbursement service. In 2021, it added Visa Direct Payouts to enable a single connection to push payment for domestic payouts and cross-border payments with eligible cards and accounts.
Though some banks have added the service, Nuvei says it is one of the first global acquirers to do so. It says Visa Direct for Account complements the Visa Direct for Card capability it already offers. Nuvei says merchants will benefit because the service can use both Nuvei’s and Visa’s infrastructure and provide fast, account-based payouts.
“The solution also helps reduce transfer fees and foreign exchange costs compared to traditional methods, while simplifying treasury workflows through a single, integrated payout platform,” Nuvei says in a statement. Use cases ranges from gig economy earnings, insurance claims, remittances, marketplace settlements, loan disbursements, and digital goods payouts, Nuvei says.
Visa says it processed more than 10 billion Visa Direct transactions in 2024, up from 1.6 billion in 2019. In an investor presentation in February, Visa says it is pursuing $55 trillion in non-business-to-business money movement activity, which it depicts as $20 trillion in peer-to-peer payments, $20 trillion in business-to-consumer, and $15 trillion in government-to-consumer.
