- TransferGo and Visa will work together on a new offer to provide instantaneous cash moving services across borders, with the money going to users’ bank cards.
- The service is presently available in a range of major economies and markets, such as Germany, though there are big plans afoot to start offering it further afield soon.
- A senior figure at TransferGo, which has a seven-figure number of users around the world, said that the company was “committed to a constant cycle of innovation”.
International money transfers company TransferGo has announced a partnership with Visa to provide better cross-border payments experiences for a range of users.
The two firms will provide instant cash transfer services to recipient bank cards across borders, TransferGo said in a statement.
The offering, which is already working in more than 30 countries around the world, provides customers with the chance to both transact and accept funds using the Visa Direct platform.
This is a push payments service operated by the internationally known financial services firm, and in this context will provide knock-on benefits of security and fast transfers to TransferGo customers.
It will also mean that cash can be transferred directly to recipient bank cards with no need to use online banking services.
The traditional requirement for an IBAN, or International Banking Account Number, will also be lifted.
The countries that already enjoy the benefit of this service include Poland, Ukraine and Germany.
According to TransferGo, there is a good chance that even more firms will be able to benefit from the development in the future.
The firm predicts that nearly 180 additional markets might benefit from it overall, including European nations such as Italy.
Major remittance destinations such as Nigeria are also expected to be able to benefit.
TransferGo is believed to have more than two million users across the globe.
In a press comment, Daumantas Dvilinskas, who serves as chief executive officer of TransferGo and was also its co-founder, said that the firm was always looking to innovate.
He added that there would be three key benefits for consumers: ease, speed and safety.
“We are committed to a constant cycle of innovation, meaning our customers and their needs are at the heart of everything we do,” he said.
“This is why it is important to us to ensure more people across more markets can experience the benefits of flexible international remittances through easier, faster, and more secure services like Visa Direct,” he explained.
He went on to speak about the potential new markets that the service could find itself operating in as time goes on.
“What is more, as the service continues to grow, customers could see availability expand further into Africa, Southeast Asia and the Commonwealth of Independent States,” he said.
TransferGo is a well-known firm operating in the cross-border payments sphere – why not check out our review of the firm’s offer.
