Global: Visa Introduces Innovative Global Cross-Border Money Movement Solution

Visa Closes Deal to Acquire European Open Banking Platform Tink for 2B
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Visa has harnessed the capabilities of its Currencycloud acquisition to unveil an innovative global cross-border money movement service designed for various entities, including banks, fintechs, FX brokers, corporates, and payment institutions.

This new offering from Visa combines its ‘Treasury-as-a-Service’ functions with Currencycloud’s API-driven embedded foreign exchange platform. It introduces a comprehensive suite of modular building blocks that seamlessly integrate into a company’s existing technology infrastructure. The available APIs cover a wide range of functionalities, such as receiving payments in multiple currencies, real-time foreign exchange (FX) with persistent rates, multi-currency wallets supporting over 30 currencies, and the ability to make payments in more than 180 countries and territories.

Colleen Ostrowski, Senior Vice President and General Manager of Visa Cross-Border Solutions, emphasized the significant opportunities for innovation and growth in the cross-border market. She noted that Visa’s solutions address the historically challenging aspects of compliance, regulation, and technology in this space.

“We simplify the regulatory complexities while providing flexible and easily integratable solutions. This empowers our clients to swiftly transition to revenue generation, yielding a return on their investment, and greatly enhancing the end-user experience,” said Ostrowski.

Visa finalized its acquisition of Currencycloud, valued at $700 million, in December 2021.

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