Global remittance service provider Remitly has collected an equity investment from Visa, which will help extend their partnership.
The deal extension will see Visa integrate its real-time push payments platform, Vias Direct, which will enable Remitly customers in the US to send funds to eligible Visa debit cards in countries around the world.
This deal extension will see the companies expand cross-border transfer services and provide customers affordable, convenient and secure money transfer solutions.
Remitly and Visa first teamed up in 2019 to service, expansion, and innovation.
Remitly co-founder and CEO Matt Oppenheimer said, “Over the last two years, our partnership with Visa and integration of Visa Direct, has bolstered our cross-border money transfer network and provided our customers with even more options to send and receive money all over the world.
“After a strong initial collaboration with the world’s leader in digital payments, we’re excited to bring even more payment disbursement innovations to the forefront in the years ahead, and serve our customers with speed, convenience, and optionality.”
Since the start of 2020, Remitly claims to have more than doubled its reach, with it now supporting 100 countries.
Remitly previously raised $85m in its Series F funding round in July 2020. The funding was used to expand its money transfer network into new markets, develop its suite of digital financial services products and reach new customers around the world.
Copyright © 2021 FinTech Global
