Visa and the B2B company Thunes are detailing a partnership they said has resulted in Visa Direct’s expanded reach to nearly 7 billion endpoints.
The expansion includes over three billion cards, more than two billion accounts, and 1.5 billion digital wallets.
“From an agricultural worker in Bangladesh to a young professional in London who is looking to send money to family overseas, Visa strives to create more ways for individuals and SMBs to participate in the global economy,” Visa Direct Global Head Ruben Salazar Genovez said. “We are thrilled to collaborate with Thunes and help enable quick and simple access to the financial system to more customers around the world who may use digital wallets as their primary financial instrument.”
The entities indicated digital wallets are gaining traction as an empowering first entry point to the financial system. Consumers are not required to have a card or account to load or receive funds directly to their digital wallet, providing the potential for greater financial inclusion.
“We are thrilled that of all the payment companies, Visa, a global leader in payments, is working with Thunes on this launch,” Thunes CEO Peter De Caluwe said. “Through the combined power of Visa’s scale and Thunes’ payment infrastructure, this collaboration has the potential to help develop a new global era for inclusive and accessible global payments.”