Canadian fintech leader Nuvei has joined forces with digital payments giant Visa to launch Visa Direct in Colombia. This partnership marks Nuvei as the first global payments provider to offer this innovative service in the country.
Visa Direct leverages VisaNet’s processing capabilities to deliver funds directly to financial accounts in near real-time using card credentials. It supports various use cases such as person-to-person (P2P) payments, funds disbursements, bill pay, and cross-border remittances directly to eligible debit or prepaid cards.
Colombian merchants can now access Visa Direct through their existing integration with Nuvei’s modular payments technology platform. This integration allows businesses to offer instant payout capabilities, enhancing transaction speed and customer satisfaction.
“Offering instant payouts through Visa Direct supports our strategy of providing best-in-class payment solutions tailored to the needs of each market we serve,” said Philip Fayer, Nuvei’s Chair and CEO. “Colombia is one of the fastest-growing eCommerce markets in Latin America, and we’re proud to deliver innovative ways for our customers to optimize their payment flows, enhance user experiences, and operate with maximum efficiency.”
This collaboration continues Nuvei‘s trend of pioneering industry-leading payment solutions in Colombia. Recently, Nuvei became the first global payments provider to offer direct local acquiring in the country, enabling businesses to accept card payments without intermediaries.
Visa Direct is already available to Nuvei’s partner merchants in over 30 countries, including the UK, the US, Canada, Hong Kong, and Singapore. Extending this service to Colombia is a significant milestone in the global strategic partnership between Nuvei and Visa.
“Our collaboration with Nuvei is already enabling businesses in North America and Europe to harness the benefits of faster, safer, digital payouts to cards. We’re excited to extend this partnership to Colombia so that even more merchants can offer an industry-leading payments experience to their customers,” commented Humberto Guihur, Product and Innovation VP for Visa Andean Region.
