Remitly extends partnership with Visa to streamline cross-border money transfer

Remitly, a US-based remittance service provider has announced the extension of its partnership with Visa for another five years. The extension is aimed at simplifying cross-border money movement for Remitly customers. This is in addition to building on the firm’s initial integration with Visa Direct.

Remitly - Visa extended collaboration

The expanded partnership between Remitly and Visa will ensure that Remitly customers in over 15 countries, including Australia, Canada, the UK, and the US, are able to swiftly send funds to their loved ones ‘ eligible Visa debit cards and bank accounts in over 100 nations worldwide.

To complete the direct cross-border money transfer, one will simply need to enter the recipient’s name and 16-digit Visa debit card number into the Remitly app. At the same time, customers will be able to track the transfers directly via the same platform.

With regard to the extended collaboration, Remitly’s CEO, Matt Oppenheimer stated, “At Remitly, we’re dedicated to providing our customers with a more seamless and trusted cross-border money transfer experience. To further enhance Remitly’s proprietary network which includes approximately 4 billion bank accounts, 1.2 billion mobile wallets, and 460 thousand cash pickup locations, we are pleased to expand our long-standing collaboration with Visa so we can continue serving customers with faster payment options that help more money make it home.”

Both companies acknowledge that there is a need to constantly improve the digital payment experience as millions of migrant workers rely on these platforms to send financial support to their loved ones overseas. On its part, Visa Direct offers a single point of access as well as reach to more than 8.5 billion endpoints capability. It has significantly improved money movement across the world by facilitating the transfer of funds to over 3 billion eligible cards, 3 billion bank accounts, and 2.5 billion wallets.