Instant Card Transfers will now be made available to Revolut Business customers as the global financial app partners with Visa, the digital payment juggernaut.
This new service will enable Revolut Business customers to send money across the globe securely and in real-time. This tackles a traditional pain point often faced by businesses looking to make international transfers: long wait times. Historically, transfers have sometimes taken days to be received due to the need for specific information such IBAN and BIC. Another key hurdle businesses faced was expensive transfer fees.
Revolut’s Instant Card Transfers, powered by Visa Direct, ensures the issues faced by businesses in each of the 78 countries it is live in, will no longer be a burden. From a startup paying for a contractor’s services to a travel firm paying customer delay compensation, Revolut Business customers now only require a card number for transactions. The payment then arrives in the recipient’s account within 30 minutes or less.
Mark Jamison, senior vice president, global clients, at Visa
The cost-effective solution supports over 50 currencies.
Mark Jamison, senior vice president, global clients, at Visa: “We’re delighted that Visa Direct’s global reach, security, and reliability will enable Revolut’s business customers to move money worldwide with speed and confidence. Furthermore, this step deepens our collaboration with Revolut to continue their impressive track record of growth and product differentiation.”
James Gibson, general manager at Revolut Business
James Gibson, general manager at Revolut Business also commented: “We’re excited to launch Instant Card Transfers in the UK & EEA, providing businesses with a simple, instant, and secure way to pay employees, contractors, and customers globally by supporting major card schemes.”
This global agreement follows Revolut and Visa’s collaboration to offer card transfers powered by Visa Direct for peer-to-peer payments to ~90 countries in the world in 2023 and the launch of Visa virtual cards for business focused on the B2B travel sector in 2024.
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