Global: RCBC and Visa Launch Real-Time Cross-Border Payment Service in the Philippines

In a move set to enhance digital remittance capabilities and financial inclusion, Rizal Commercial Banking Corporation (RCBC) has partnered with Visa to introduce the Visa Direct platform in the Philippines. The service enables real-time outbound transfers from the Philippines to eligible bank accounts, wallets, and cards across more than 190 countries and territories.

Visa Direct is a global real-time push payment solution designed to facilitate seamless and secure international money transfers. The launch coincides with rising demand for faster, digital-first payment options, especially in emerging markets. According to the World Bank, global cross-border payments reached approximately USD $905 billion in 2024, underscoring the scale of the opportunity.

In the Philippines—one of the world’s top remittance-sending and -receiving countries—consumer demand for digital remittance channels is accelerating. A recent Visa survey revealed that around 75% of Filipino respondents prefer sending money digitally, one of the highest rates in the Asia-Pacific region.

Jeffrey Navarro, Visa’s Country Manager for the Philippines, described the partnership as a strategic effort to bridge gaps in outbound remittances and deepen financial inclusion.

“By partnering with RCBC to bring Visa Direct to the market, we aim to address cross-border payment challenges and make global money movement more accessible for Filipinos,” Navarro said.

Lito Villanueva, Executive Vice President and Chief Innovation and Inclusion Officer at RCBC, noted that the collaboration reinforces the bank’s commitment to inclusive, tech-driven banking.

“This innovation aligns with RCBC’s vision of making global financial services accessible to more Filipinos. By leveraging Visa Direct, we are helping to modernise international money transfers with speed, convenience, and trust,” Villanueva stated.

Visa Direct currently connects to over 8.5 billion endpoints globally and supports transactions in 160 currencies, offering extensive reach for individuals and businesses alike.

Looking ahead, both Visa and RCBC indicated plans to integrate advanced features into the platform, including enhanced fraud prevention tools and support for multi-currency wallets—further enriching the cross-border payment experience for Filipino users.