Partnership is live in 32 markets, with potential to expand to 178 in the future
TransferGo, one of the world’s fastest growing money transfer companies, today partners with Visa, the world’s leader in digital payments, to bring real-time international money transfers to consumers’ bank cards. This service is currently live in 32 markets, including Germany, Spain, Romania, Poland, Ukraine and Turkey and has the potential to expand to a total of 178 countries in the future with additions such as the UK, Italy and Nigeria.
Together, TransferGo and Visa enable customers to send and receive funds through Visa’s real-time push payments platform, Visa Direct. This means that consumers using TransferGo to send or receive funds will benefit from the speed and security of the Visa network when sending or receiving money overseas. By using this solution, customers can send payments directly to a card without having to navigate online banking or find the International Banking Account Number (IBAN). It’s fast, convenient and provides customers with greater choice and accessibility in how they move their money.
This partnership helps TransferGo to take direct advantage of the availability of the Visa Direct service. Currently serving 32 countries, today’s announcement brings real-time payments to thousands of TransferGo users, while the prospect of increasing availability to 178 markets will mean that the partnership has a global focus, allowing many more to benefit from the speed and security of the service.
Commenting on the partnership, Daumantas Dvilinskas, CEO and Co-Founder of TransferGo, said: “We are committed to a constant cycle of innovation, meaning our customers and their needs are at the heart of everything we do. 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. 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.”
“Now more than ever, people have a vital need to access fast, simple and secure ways to move their money across borders to support friends and family overseas,” said Tim Summers, Vice President, Visa Direct, Visa. “We look forward to continuing our ongoing work with TransferGo to make this possible through real-time payments to more consumers across the globe.”
This announcement comes at a time of growth for TransferGo, with over 2 million users and a $10 million investment boost that will enable the business to expand its global footprint and continue to launch new services on its cross-border payments platform. TransferGo also recently hired Edgardo Savoy as Chief Technology Officer and Francesco Fulcoli as Chief Compliance Officer to develop and implement its technology innovation roadmap.