Visa has teamed up with Rizal Commercial Banking Corporation (RCBC) to introduce Visa Direct in the Philippines, offering real-time payments and money transfers.
First launched over a decade ago, Visa Direct now connects to 8.5 billion endpoints across more than 190 countries and territories, supporting transactions in 160 currencies.
The platform leverages collaborations with companies such as Thunes, TerraPay, and Tencent to boost digital wallet adoption and promote financial inclusion.
According to the World Bank, global cross-border payments and remittances reached \$905 billion in 2024, up 4.6% from the previous year.
Visa and RCBC plan to add new features to their partnership, including stronger fraud detection systems and multi-currency wallet capabilities, said Jeffrey Navarro, Visa’s Country Manager for the Philippines.
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