Trust Payments, the leading global unified payments group for global pay-in, pay-out and customer journey technologies has recently launched a real time pay-out option, using Visa Direct, Visa’s real-time[1] push payments platform.
Visa Direct enables a seamless payment experience that allows businesses to push payments quickly and securely to their customers’ accounts through payment card credentials.
The platform enables businesses across a number of different verticals to send faster and more convenient payments to their customers. In fact, Visa Direct should be a priority for any organisation which needs to move money to their customers’ debit accounts quickly.
The following verticals in particular can use Visa Direct to enable faster payments for their customers, providing multiple benefits for both the business and consumer including security, reliability and maximising customer loyalty:
Insurance: Claims with no delays
Insurance providers can use real-time payouts as a way to earn the satisfaction and loyalty of their claimants. The moment a customer makes a claim is the ‘moment of truth’ when it comes to their experience, and Visa Direct can help insurers meet claimants’ expectations by delivering real-time insurance payouts at the time when it matters most.
Money transfer: No waiting for cross-border transfers
When transferring money overseas, customers no longer want to wait for 3+ days to receive the funds in their account. Visa Direct capabilities enable you to provide access to funds by sending money in real time to your customers’ accounts in over 130 countries.
Education: Immediate access to bursaries, scholarships and grants
Ensure your students become advocates of your institution by offering timely access to awarded bursaries, scholarships and grants. Universities or colleges can also support international students with options to pay out to over 130 countries.
Learn more about Visa Direct here
[1] Actual fund availability varies by financial institution and region. Visa requires fast-funds enabled issuers to make funds available to their recipient cardholders within a maximum of 30 minutes of approving the transaction. Please refer to your Visa representative and the Visa Direct Original Credit Transaction Global Implementation Guide for more information.
