Remitly & Visa extend partnership to simplify cross-border money transfer

By Delisha Fernandes

Remitly, a US-based remittance processor, has expanded five-year collaboration with Visa to streamline cross-border money movement for Remitly customers.

The expanded partnership between the remittance processor and Visa will ensure that Remitly customers in more than 15 countries, including the U.S., Canada, the U.K., and Australia can quickly send money directly to their loved ones’ eligible Visa debit cards and bank accounts in more than 100 jurisdictions around the world.

Matt Oppenheimer, Co-founder and CEO Remitly, said, “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.”

By simply entering a recipient’s name and 16-digit Visa debit card number into the Remitly app, Remitly customers can quickly and securely send money internationally directly to their loved ones’ eligible Visa debit cards and bank accounts.

“With millions of migrant workers relying on remittances to send financial support to family and friends overseas, there’s an ever-increasing need to improve digital payment experiences and solutions to help remove barriers,” Ruben Salazar, Global Head of Visa Direct, said. “Our expanded collaboration with Remitly will enhance cross-border money movement and help foster new opportunities for financial inclusion through the innovative payment capabilities offered through Visa Direct.”

Visa Direct provides a single point of access and reach to over 8.5 billion endpoints capability, helping transform global money movement by facilitating the delivery of funds to 3 billion+  eligible cards, 3 billion + bank accounts, and 2.5 billion+  around the world.