Multinational payment card services corporation Visa has partnered with Revolut to enable instant card transfers for Revolut Business customers and support cross-border transactions. By signing the global Visa Direct agreement, Revolut and Visa intend to deliver instant card transfers for the former’s business customers and allow them to send money across the world in real-time and securely.

The newly added capabilities are enabled by Visa Direct, a network that offers access to real-time payments. Additionally, Revolut Business customers can now conduct transactions through only a card number, with the payment then arriving in the recipient's bank account within 30 minutes or less. At the time of the announcement, the solution was available to Revolut Business customers in more than 78 countries and supported over 50 currencies.

Moreover, the current news follows Revolut and Visa’s partnership to provide card transfers enabled by Visa Direct for peer-to-peer payments to nearly 90 regions, as well as the launch of Visa virtual cards for business, which focused on the B2B travel sector. When commenting on the announcement, representatives from Visa underlined that Visa Direct’s global reach, security, and reliability is set to allow Revolut’s business customers to transfer more funds worldwide in a more efficient manner. Also, the move solidifies and expands Visa and Revolut’s alliance, enabling the two firms to continue their work and meet the demands of the financial industry.

At the same time, officials from Revolut highlighted that the launch of Instant Card Transfers in the UK and EEA allows businesses to benefit from a simplified and safe way to pay employees, contractors, and customers by supporting major card schemes. Revolut and Visa’s initial collaboration Back in May 2020, Revolut announced its agreement with Visa, with the two companies planning to provide digital banking services into five additional regions globally. As part of their collaboration, Revolut chose Visa as Lead Issuing Partner, following a successful alliance the two organisations had in Europe.

Under the agreement, Revolut’s solutions were set to be provided to five new region and reach 24 additional markets, mainly via Visa-branded cards. Furthermore, the deal allowed Revolut to launch its services in Australia, Brazil, Canada, Japan, New Zealand, Singapore, and the US. Also, the company then intended to introduce its solutions to Argentina, Chile, Colombia, Hong Kong, India, Indonesia, Korea, Malaysia, Mexico, the Philippines, Saudi Arabia, South Africa, Taiwan, Thailand, Ukraine, and Vietnam. .