Visa announced an upgrade to its Visa Direct service that will allow funds to be transferred to U.S. bank accounts in one minute or less.
The Visa team announced an update to its Visa Direct service scheduled for April 15, 2025. This key innovation will enable individuals, businesses, and government entities to send money in real time to bank accounts linked to eligible debit cards.
Visa Direct is an instant payments platform that facilitates real-time money transfers using debit cards. Visa Direct supports 99% of U.S. bank accounts and over 11 billion Visa payment tools globally, including cards, bank accounts, and digital wallets.
The upgraded system is designed to boost financial efficiency for both commercial and government organizations by speeding up various types of payouts. The initiative is expected to streamline operations and enhance user experience. Visa Direct’s update aligns with the broader industry trend toward modernizing the payments ecosystem.
Jim Filice, VP at Visa, emphasized in the press release that Visa Direct already processes billions of real-time transactions across more than 50 use cases in the U.S. market. This latest upgrade further highlights Visa’s commitment to advancing real-time payments adoption.
Visa continues to expand its FinTech solutions. Earlier this December, e-commerce players in Latin America gained the ability to process cross-border B2B payments using stablecoins and the Visa payment network.
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