Paysafe and Visa extend relationship with integration of Visa Direct for rapid money movement
Paysafe (NYSE: PSFE), a leading specialised payments platform, announces the extension of its collaboration with Visa to integrate Visa Direct, Visa’s real-time2 push payments platform. Especially suited to industries where speed of settlement is key, such as cryptocurrency or FX trading and iGaming among many others, Paysafe will offer Visa Direct to merchants, exchanges, operators and other online businesses in the UK and Europe.
Using Visa Direct for fast push payments, merchants can gain tighter control of their cash flow. Paysafe customers who use Visa Direct can opt to receive their payments within minutes, giving them quicker, easier access to funds, so they can make spending decisions faster and with more flexibility.
The new integration allows merchants to access the Visa Direct service through Paysafe’s single point of connection, to enable push payments to eligible Visa cards for domestic payouts, and to eligible Visa cards and accounts for cross-border payments.
Paulette Rowe, CEO of Integrated and Ecommerce Solutions at Paysafe, commented: “In some of the sectors we operate in, such as cryptocurrency or iGaming, speed of settlement is absolutely central to business success due to the rate at which the industry is moving. It is in these specialised industries that, now more than ever, an effective approach to payments can provide a competitive advantage, and steps such as this are likely to help to propel the more emerging industries into the mainstream. We’re therefore delighted to offer Visa Direct as part of our portfolio to enable rapid customer payouts underpinned by a secure and trusted brand like Visa.”
Nicky Alexander, Head of Visa Direct, Europe, at Visa added: “At Visa, we’re focused on reimagining how money moves around the world. Through this collaboration with Paysafe, we’re excited to bring a more streamlined customer journey and real-time3 transfer capabilities to more businesses in the UK and Europe.”
NOTES TO EDITORS
For more information about Visa Direct and Paysafe, please visit: https://www.paysafe.com/en/visa-direct-with-paysafe/
About Paysafe Limited
Paysafe Limited (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a leading specialised payments platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions. With over 20 years of online payment experience, an annualised transactional volume of over US $120 billion in 2021, and approximately 3,500 employees located in 10+ countries, Paysafe connects businesses and consumers across 100 payment types in over 40 currencies around the world. Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments. Further information is available at www.paysafe.com.
1 Actual fund availability depends on receiving financial institution and region.
2 Actual fund availability depends on receiving financial institution and region.
3 Actual fund availability depends on receiving financial institution and region.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220503005117/en/
Anna Birdsall-Strong, VP Communications, Europe, Paysafe