On Monday, Remitly announced a five-year extended partnership with Visa, focusing on enhancing the cross-border transfer of funds for Remitly’s customers. This development builds upon Remitly’s initial use of Visa Direct.
The extended partnership will enable Remitly users in over 15 countries, including the US, Canada, the UK, and Australia, to quickly transfer money to eligible Visa debit cards and bank accounts in more than 100 territories globally.
Remitly’s Co-founder and CEO, Matt Oppenheimer, stated, “At Remitly, we’re dedicated to providing our customers with a more seamless and trusted cross-border money transfer experience. To further enhance Remitly’s proprietary network which includes approximately 4 billion bank accounts, 1.2 billion mobile wallets, and 460,000 cash pickup locations, we are pleased to expand our long-standing collaboration with Visa so we can continue serving customers with faster payment options that help more money make it home.”
Remitly customers can now send money internationally with ease and security by simply entering a recipient’s name and their 16-digit Visa debit card number in the Remitly app, enabling direct transfers to eligible Visa debit cards and bank accounts.
Ruben Salazar, Global Head of Visa Direct, said, “With millions of migrant workers relying on remittances to send financial support to family and friends overseas, there’s an ever-increasing need to improve digital payment experiences and solutions to help remove barriers.”
Our expanded collaboration with Remitly will enhance cross-border money movement and help foster new opportunities for financial inclusion through the innovative payment capabilities offered through Visa Direct.”
Visa Direct offers a unified access point and reach, supporting the transformation of global money movement. It facilitates the delivery of funds to over 8.5 billion endpoints, including 3 billion+ eligible cards, 3 billion+ bank accounts, and 2.5 billion+ wallets worldwide.
