Visa Collaborates with Euronet to Expand Real-Time Payment Network and Revolutionize Cross-Border Remittance Services

 Visa, a global leader in digital payments, announced a strategic partnership with Euronet, a global giant in payment processing and cross-border transactions, and its Money Transfer segment (Ria Money Transfer, Xe, and Dandelion). The collaboration aims to introduce the Visa Direct service to Euronet's customer base. Leveraging the global reach of Visa Direct, which covers over 4 billion debit cards, Visa will assist Dandelion, an industry-leading real-time payment network, in further expanding its digital payment capabilities. This expansion will extend its business footprint to cover 3.2 billion mobile wallet accounts, 4 billion bank accounts, 624,000 offline locations across nearly 200 countries and territories, as well as an additional 4 billion Visa debit cards.

According to data from the World Bank, 52.8% of people aged 15 and above hold a debit card. Driven by financial inclusion initiatives and the widespread adoption of contactless payments, the use of debit cards has become increasingly prevalent. The Nilson Report predicts that by 2029, global debit and prepaid card transactions for purchasing goods and services will reach $1.1 trillion. This partnership exemplifies Visa's leadership in guiding the payment industry to adapt to evolving consumer trends and deliver exceptional digital payment experiences.

With Visa Direct, customers of Euronet's Money Transfer segment can transfer funds to 4 billion Visa debit cards within minutes simply by providing the recipient's name and debit card number. Meanwhile, Visa's advanced payment security infrastructure, combined with Euronet's robust compliance framework, provides dual protection for payment and account data, ensuring convenience and peace of mind for both senders and receivers.

Vera Platonova, Chief Revenue Officer and Global Head of Sales and Solutioning Teams at Visa Direct, stated, "Visa is committed to providing innovative solutions to enable convenient and secure money transfers for our clients. This collaboration with Euronet's Money Transfer segment, integrating Visa Direct into its service ecosystem, will drive the further digitization of its remittance services through fast, secure, and transparent push-to-card payments. This partnership underscores our shared commitment to delivering outstanding cross-border remittance services to end-users worldwide."

Juan Bianchi, EVP & CEO of Euronet's Money Transfer segment, also expressed his approval of the collaboration: "The mission of Euronet's Money Transfer segment is to meet customers' diverse fund transfer needs through simple and convenient cross-border payment solutions. Our partnership with Visa allows us to expand and optimize our digital payment services while maintaining high security standards and a reliable service promise."

This collaboration marks just the beginning of the partnership between Visa and Euronet. In the future, the two companies will continue to deepen their cooperation and drive innovation in the global payment sector.

As a global leader in digital payments, Visa connects consumers, financial institutions, merchants, businesses, and governments through innovative technologies and an extensive payment network, facilitating the secure and convenient flow of funds worldwide. Visa's payment solutions have a global reach and support various payment scenarios, ranging from traditional card swiping transactions to emerging digital payments and cross-border remittances. The company is dedicated to providing users with a seamless payment experience. Through continuous innovation and collaboration, Visa continues to drive the transformation of the payment industry and contribute to building a more efficient and inclusive global economic system.