Visa and Astra partner to enable fast payments
By Edlyn Cardoza
Astra, a provider of instant card-to-card funding as a service in the U.S., announced it is using Visa Direct – Visa’s real-time payments service – to provide fast payments to millions of its end-users who can fund cards, wallets, and other accounts with their eligible debit cards.
Astra offers a payments platform that allows developers to quickly and safely add transfer functionality to their existing applications in as little as a week of development time. Built for scale and leveraging automation, the Astra Platform is integrated via API. It allows builders to add payment functionality to their applications without handling additional compliance, capital commitments, or operational costs.
“In a world where consumers expect to move money quickly and conveniently, fintechs and neo-banks must enhance their payment options to meet these new demands,” said Yanilsa Gonzalez-Ore, SVP, North America Head of Visa Direct. “Visa Direct empowers Astra’s clients to deliver money in real-time, providing end-users with a fast option for moving funds between accounts.”
With Astra, consumers can fund a new debit card in real-time, easily transferring funds from an existing debit card through Visa Direct. This technology enables FinTech products to help consumers move their funds to the desired account in real-time, 24 hours a day, 365 days a year. Accelerating funds availability can lead to a smoother consumer onboarding experience and the ability to start monetising card transactions faster.
“Every consumer and business knows the value of time to money intimately. Every fintech product is faced with the challenge of providing faster account funding options for their users,” said Gil Akos, CEO of Astra. “Through our collaboration with Visa, we can provide fast payments for me-to-me and peer-to-peer transactions. An easy integration for advanced payments through Visa Direct via Astra’s API will enable a world of new innovations for banking, investing, and marketplace products.”