VISA Inc introduces VISA+, a new service enabling both transfers between participating P2P payment apps and real-time payouts to participating apps. The payment platform expands its reach with the new service that seeks to solve problems of sending money to users who don’t use the same payment platform.
“Sending and receiving money traditionally meant both parties needed the same app. Visa+ changes that, offering a solution for transfers between participating payment apps.”
The new tool is another way for VISA to simplify personal payments. “Visa+ helps reduce the need for users to juggle multiple apps, accounts, usernames, and passwords. Now users can do more without leaving their preferred participating payment app.”
According to the platform’s web portal, “With Visa+, your users can get paid by sharing their Visa+ payname with others on a participating app — no need for them to give out their email addresses or phone numbers.”
Other companies that have joined Visa+ in this endeavour include Western Union, TabaPay, i2C and DailyPay.
Users can now send and receive funds from the participating payment app linked to their Visa+ payname. Enrolled merchants can use Visa+ to deliver real-time payouts to participating payments apps, offering gig workers, creators, and others more destinations for their earnings, states the payment platform.
How does it work?
Set up Visa+: User sets up their Visa+ payname in their preferred participating payment app.
Share Visa+ payname: User shares their Visa+ payname with people who need to pay them from another participating payment app.
Start paying and getting paid: User can now send and receive funds from the participating payment app linked to their Visa+ payname.
