Visa (V) stock is trading lower Tuesday after announcing the expansion of Visa Direct, a real-time push payments platform, with the introduction of Visa Direct Payouts. Shares of Visa are lower -1.02% to $212.33 Tuesday morning.
Here's What's Happening With Visa Today
Visa announce the expansion of Visa Direct, which is designed to let Visa’s clients and partners around the world use a single point of connection to push payments to eligible cards for domestic payouts.
“As digital commerce accelerates, Visa is innovating to give financial institutions, governments, individuals and businesses new ways to pay and get paid beyond the card,” said Bill Sheley, SVP, Global Head, Visa Direct, Visa. Adding, "the launch of Visa Direct Payouts marks an important milestone in Visa’s expansion of its account-to-account capabilities to now reach an additional 2 billion bank accounts around the world. Backed by the operating scale and performance of VisaNet, the solution integrates Visa’s acquisition of Earthport to transform how Visa’s clients deploy and optimize global money movement programs.”
The solution will simplify Visa Direct Payouts APIs by reducing the many complexities that often come with managing and sending money across multiple networks and intermediaries worldwide, giving operational simplicity to move money globally through a single connection to VisaNet.
Yesterday, Visa announced a program to let users settle transactions using cryptocurrency.
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Visa is the largest payment processor in the world. In fiscal 2020, it processed almost $9 trillion in purchase transactions. Visa operates in over 200 countries and processes transactions in over 160 currencies. Its systems are capable of processing over 65,000 transactions per second."
