TransferWise and Visa Announce Global Partnership Following Successful Collaboration on Cloud Technology - Seite 2

Connecting Visa’s state-of-the art infrastructure with the cloud

Today, global card programs expanding into multiple countries require investment in local data centers using specialized hardware and telecommunications infrastructure as well as coordination with local partners to adhere to regional standards. This can slow down new rollouts and delay customer adoption. Visa’s new Visa Cloud Connect platform provides a secure cloud-based connection to VisaNet, including a unified certification and testing framework, Visa-hosted security services such as transaction encryption and PIN key management, and simplified settlement in local markets.

This combination of technology and services simplifies global connectivity and testing, lowers IT costs through cloud integration, and speeds time to market for launching programs in new geographies. This is particularly beneficial for new types of clients like TransferWise who have been operating on cloud-based systems from their inception.

Visa Cloud Connect is currently in pilot phase with TransferWise and is slated for global availability for other clients in August 2021.

TransferWise Multi-currency Account

TransferWise, now 4-years profitable, serving 10 million customers and moving $6 billion in cross-border transactions every month, will be the first company to integrate globally with Visa via a single integration. This will dramatically speed up TransferWise’s plans to rollout to customers the debit cards that accompany its multi-currency account in a host of new markets.

Since launching the TransferWise multi-currency account in 2018, the company has issued more than 1 million debit cards through existing processors and partners. The account and card help people and businesses avoid high foreign transaction fees and costly exchange rates when travelling, managing their money in multiple currencies, or doing business across borders.

About Visa

Visa (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visa.com/blog and @VisaNews.