Visa Partners With Stripe to Offer Push Payments
Visa has teamed up with Stripe to enable Visa Direct, its real-time push payment solution on Stripe Connect, the company’s solution for multi-sided marketplaces and platforms.
Visa Direct offers real-time push payment capabilities to business owners and consumers via the cards they already carry in their wallets. Funds are available within minutes, providing speed, convenience and security to the payment experience.
With this integration, verified sellers using Stripe’s Instant Payout feature will be able to receive payments immediately on their Visa debit cards. This is a faster option than the current standard payment process, which is a payment from Stripe to the sellers’ bank accounts, which normally takes a few days to process.
Visa Direct is expected to transform payments by enabling a range of real-time payment use cases backed by the security and scale of Visa’s global payment network, including:
- Business-to-business: enabling businesses to pay freelancers, contractors, and other small businesses in real time.
- Business-to-consumer: enabling businesses to send almost any kind of payment directly to a Visa account – such as gaming winnings, insurance payouts, and daily merchant settlements.
- Person-to-person: enabling consumers to pay each other quickly, conveniently, and securely, often through their connected devices – such as when splitting bills or giving gifts.