OwlTing teams up with Visa to streamline cross-border payments

By Gloria Mathias

OwlTing Group, a global blockchain FinTech company, has announced plans to implement Visa Direct solutions under a worldwide agreement with Visa. This agreement will allow OwlTing to potentially reach over 8.5 billion endpoints in Visa’s payment network worldwide.

With Visa Direct, OwlTing can allow its US customers to transfer money seamlessly across regions through OwlPay®, its Web2 and Web3 hybrid payment solution, in two phases of integration of the company’s payment services with Visa Direct solutions.

The company aims to complete its integration with Visa Direct Account and Visa Direct Card solutions by the end of 2024 and by the end of the first quarter of 2025, respectively.

Corporate users who need to pay their business partners overseas or individual users, such as parents who want to transfer funds to their children studying abroad, can use OwlPay® as a fast, secure, and cost-effective solution for instant money transfer transactions.

“We’re excited to work with Visa to streamline new standards for how businesses and consumers move money across borders,” said Darren Wang, Founder and CEO at OwlTing Group. “This collaboration will enable OwlPay® to support payouts in over 160 currencies to more than 190 regions worldwide once fully integrated. Together, OwlPay® can visualise the future of payments and create new possibilities for a more interconnected world.”

“Visa has been looking for like-minded partners like OwlTing,” commented Jakub Petri, Senior Director of Global Visa Direct at Visa. “With Visa Direct’s global reach and reliability, this empowers OwlTing to offer their clients faster and more dependable international transactions. Their ambition aligns with our shared vision of transforming global payments and driving growth together.”

After completing the first phase of the integration, OwlPay® will be able to utilise the Visa Direct Account solution to meet its various client needs, including cross-border business disbursement and peer-to-peer (P2P) transfers. Users in the U.S. will be able to send money from their bank accounts or debit cards via OwlPay® to proceed with payouts to 26 key regions in the Americas, Europe, and Asia.