Nov 06, 2009 (Close-Up Media via COMTEX News Network) -- Visa Inc., a retail electronic payments network, has extended the global reach of its Visa Money Transfer Service to greater China and the United Arab Emirates, two of the world's most active territories for international remittance.
In addition, Visa announced the launch of a new managed service that reduces the time and development investment required for a financial institution to offer Visa Money Transfer to its customers. Initially available in Canada and the United States, and later on a global basis, the service is intended to foster more rapid adoption of the service in marketplaces around the world.
Visa Money Transfer gives consumers a convenient and secure way to send funds directly to recipients' Visa cards domestically and internationally, the Company noted in a release. Senders can initiate a Visa Money Transfer to make person-to-person payments, send funds to friends or family members, or make account transfers. Sender channels through which a Visa Money Transfer can be initiated include internet banking, Automatic Teller Machines (ATM), self-service kiosks, in person at a bank branch, or via the telephone.
Following these launches, Visa Money Transfer programs are offered to consumers in greater China, including Hong Kong; Georgia; India; Indonesia; Kazakhstan; Malaysia; Russia; Singapore; Sweden; Ukraine; and the United Arab Emirates. Visa Money Transfer is available via 50 sending institutions in 14 countries and territories around the world.
"Visa is well positioned to facilitate secure and cost-effective money transfer services by extending the capabilities of our global network that connects 1.7 billion accounts," said Elizabeth Buse, global head of product, Visa Inc. "This enables our clients to diversify into new fee-based services, while meeting their customers' need for a convenient, secure and affordable way to send money domestically and across borders."
((Comments on this story may be sent to health@closeupmedia.com))
Copyright Close-Up Media, Inc. 2009. All Rights reserved
