By enabling MassPay to offer direct integration with Visa’s global network, the collaboration will provide businesses using MassPay with a single connection that handles payouts across more than 200 markets, the companies said in a Monday (Dec. 15) press release.
Visa Direct enables fast, secure and transparent movement of funds, while MassPay eliminates the complexity of cross-border payouts by selecting the most efficient path for each transaction based on speed, cost and compliance requirements, according to the release.
MassPay CEO Ran Grushkowsky said in the release that this combination will improve how businesses can access global payout infrastructure.
“We’ve built enterprise-grade technology that handles the operational complexity, regulatory requirements, scale and speed that global businesses demand,” Grushkowsky said. “We’re the bridge between Visa’s trusted network and any business that needs to move money internationally.”
Vira Platonova, global head of Visa Direct, said in the release that the collaboration will extend the benefits of Visa Direct to additional businesses and consumers.
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“By integrating Visa Direct, MassPay can offer real-time payout experiences across a wide range of domestic and cross-border flows, helping organizations operate more efficiently and deliver the speed their customers increasingly expect,” Platonova said.
Visa reported in October that Visa Direct transactions were up 23% in its fiscal fourth quarter, reaching 3.4 billion transactions.
In another recently announced collaboration, Lumanu said it integrated Visa Direct to extend its payments and compliance platform for the global creative economy to deliver real-time payments to creators and contractors in more than 195 countries and territories.
In November, Nuvei integrated Visa Direct for Account into its global payments platform to let merchants send funds directly to consumers’ and workers’ bank accounts in eligible countries.
Meanwhile, MassPay has been expanding its offerings by forming new partnerships.
The company partnered with stablecoin infrastructure provider Plasma to enable MassPay customers to send USDT payouts on Plasma across more than 230 countries; announced that it is processing tens of thousands of identity verifications per month its embedded integration with global identity verification company Veriff; and collaborated with embedded financial solutions provider Cross River to broaden domestic instant payment access.
