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Nuvei partners with Visa to offer Visa Direct in Colombia

By Delisha Fernandes

June 04, 2024

  • Digital Payouts
  • Financial Accounts
  • Fintech news
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NuveiNuvei Corporation, the Canadian FinTech company, has partnered with Visa, a world leader in digital payments, to offer Visa Direct in Colombia.

Visa Direct is a VisaNet processing capability that allows safe, convenient, near real-time funds delivery directly to financial accounts using card credentials. Visa Direct clients use the capability to enable use cases such as person-to-person (P2P) payments, funds disbursements, bill pay, or cross-border remittances directly to an eligible debit or prepaid card.

“Offering instant payouts through Visa Direct supports our strategy of providing best-in-class payment solutions tailored to the needs of each market we serve,” said Philip Fayer, Nuvei’s Chair and CEO. “Colombia is one of the fastest-growing eCommerce markets in Latin America, and we’re proud to deliver innovative ways for our customers to optimize their payment flows, enhance user experiences, and operate with maximum efficiency.”

Visa Direct is available to Colombian merchants directly through their existing single integration to Nuvei’s full stack modular payments technology platform. With Visa Direct, Nuvei merchants are able to provide instant payout capabilities to their customers, with transactions routed and processed in near real-time. Instant payouts to cards enable businesses to offer a faster, secure, and seamless payment experience for customers across virtually any industry that is reliant on payouts.

Partnering with Visa to offer Visa Direct continues Nuvei’s first-mover advantage in rolling out industry-leading payment solutions in Colombia. Nuvei recently announced that it was the first global payments provider to offer direct local acquiring in the country, enabling online businesses to accept card payments from their customers without relying on intermediaries or third-party payment processors.

Visa Direct is already available to Nuvei’s partner merchants in over 30 countries in Europe including the UK, as well as the U.S. and Canada in North America and Hong Kong and Singapore in APAC. Enabling Visa Direct access to businesses in Colombia is the latest extension of the global strategic partnership between Nuvei and Visa.

“Our collaboration with Nuvei is already enabling businesses in North America and Europe to harness the benefits of faster, safer, digital payouts to cards. We’re excited to be extending this partnership to Colombia so that even more merchants can offer an industry leading payments experience to their customers,” said Humberto Guihur, Product and Innovation VP for Visa Andean Region.

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