Banking Circle, a Luxembourg-based payments bank focused on providing financial infrastructure to businesses and financial institutions, has announced a partnership with Visa Direct, the real-time payments platform from global payment technology leader Visa.
The partnership aims to strengthen Visa Direct’s cross-border payment capabilities by leveraging Banking Circle’s extensive network of local clearing rails, according to Pymnts.
The collaboration allows Visa Direct customers to benefit from faster, more efficient, and cost-effective international transactions.
Banking Circle operates as a cloud-based payments bank offering global cross-border payment and banking services to payment providers, banks and marketplaces.
It enables its clients to make and receive international payments at low cost and high speed, often bypassing traditional correspondent banking networks. Its services are built around a single API solution that streamlines integration and enhances transaction transparency.
Visa Direct is a real-time payments service from Visa that facilitates the quick and secure transfer of funds between individuals and businesses across borders.
The platform supports various use cases including person-to-person (P2P), business-to-consumer (B2C), and business-to-business (B2B) payments. By partnering with providers such as Banking Circle, Visa Direct expands its reach and reinforces its capability to support seamless cross-border financial services.
The agreement enables Visa Direct to access Banking Circle’s single API technology to connect directly to local clearing systems in multiple countries through one secure and trusted provider.
This integration streamlines the technical complexity for Visa Direct and supports its goal of enhancing global payment solutions for its clients.
The press release also referenced broader developments in cross-border payments, noting a rising trend among payment processors to expand their capabilities through integrated solutions.
Industry players are increasingly focusing on improving the end-user experience, consolidating services, and delivering unified APIs as clients look for simplicity and operational efficiency.
Banking Circle CEO Laust Bertelsen said, “Our partnership with Visa Direct represents an important milestone in our firm’s mission to increase speed, efficiency and reduce costs associated with cross-border transactions. Partnering with a business of Visa Direct’s scale and stature as a payments industry leader reinforces the growth of Banking Circle’s capabilities and highlights the trust in, and significance of, our single API.”
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