Instant A2A transfers matter. Are you delivering?

By Anastasia Serikova , Visa Direct Head, Europe

With the rise of peer-to-peer (P2P) platforms like Paysend, Wise, and some well-known neobanks, consumers have become accustomed to sending and receiving money on demand. Digital payments make it easy to shop online, get reimbursed for goods returned, pay the dog walker, make an immediate secure transfer to loved ones in another country, and more. However, these real-time[1] payment experiences haven’t always been so seamless when consumers have been moving money between their own bank accounts. From funding big transactions to emergency expenses, instant account-to-account (A2A) transfers are critical in getting money to the right place at the right time.

?

Why real-time transfers between accounts matter

The average consumer has eight financial accounts and conducts 15 transactions between these accounts per year.[2] In Europe, there’s an estimated €1.85 trillion in total payment volumes from A2A transfers. However, 73% of transfers between accounts happen on ACH, wire, or bank transfer rails, which can take up to three to five days.[3]

With an A2A-enabled solution from Visa Direct for fast “me-to-me” transfers, people can fund a new or existing account, load money into a digital wallet or crypto wallet,[4] move money to a brokerage account to make a trade or buy stock, receive dividends, and cash out of an account—all in real time,[5] using an eligible debit card.[6] As people come to expect more from their financial institutions, it’s critical that banks listen, evolve, and deliver real-time access to funds—when and where their customers need them.

?

How Visa Direct helps global financial institutions grow

Visa Direct aims to create a level playing field for all financial institutions that meet the compliance and risk requirements necessary to operate on our network. We support players from the smallest neobanks with disruptive business models to the largest financial institutions with centuries of history as they satisfy customers’ demand for fast, seamless, and secure ways to move money between their own accounts.

Having the ability to move money effortlessly between financial accounts is particularly important in Europe, where there are 30+ countries that people frequently move between. European citizens want consistent, sleek, and innovative digital banking experiences across their financial institutions, regardless of the country they reside in. If they’re not getting that user experience from their current banks, we see them taking their banking relationships elsewhere.

“Visa Direct enables our customers to move money between their accounts instantly, facilitating a best-in-class UX that our customers have simply come to expect from us.”

Maria Georgieva

Head of International Daily Banking & Cards

Raiffeisen Bank International AG

?

Currently, over 100 neobanks and more than 40 brokerages and trading platforms across the globe use Visa Direct to help their clients move money between accounts.[6] Partners like Lydia, Revolut, and Vipps are able to offer real-time[7] money movement solutions that meet their customers’ ever-changing needs.

"Visa Direct can facilitate an immediate, reliable and cost-effective way for our customers to send and receive money in Norway.”

Baard Slaattelid

Strategic Partnerships

Vipps MobilePay

?

Elevate your A2A capabilities

Visa Direct and our global network of partners can help financial institutions, fintechs, and paytechs offer their customers a cutting-edge payment experience. Real-time[7] A2A transfers use card credentials all backed by Visa’s multilayered security and robust risk controls. Customers can transfer money between their own accounts; send remittances; fund savings, investments, and crypto accounts; top up their gaming accounts and digital wallets;[8] and cash out of accounts—all in real time,[7] using the cards they already have.[6]?

At Visa, we strive to help all of our partners — irrespective of their size and level of innovation — implement customer-centric solutions that transform payment experiences and help their businesses grow.

Learn more about Visa Direct: Visa Direct | Use Cases | Visa

[1] Actual funds availability depends on receiving financial institution and region.

[2] Aite Group and Visa Inc. Banking and Brokerage Consumer Study (1,957 U.S. consumers), April 2019–March 2020.

[3] 2022 Visa-commissioned Global Market Sizing Analysis that analyzed 26 use cases across 60 markets globally.

[4] Wallet functionality varies by market. Please consult your Visa representative.

[5] Actual funds availability depends on receiving financial institution and region.

[6] Use cases are for illustrative purposes only. Program providers are responsible for their programs and compliance with any applicable laws and regulations.

[7]Actual funds availability depends on receiving financial institution and region.?

[8] Wallet functionality varies by market. Please consult your Visa Representative.

?