Revolut signs global Visa Direct agreement for cross-border business transactions

International transfers for businesses have traditionally come with a list of requirements that can differ per country, from expensive transfer fees and a time lag of several days to the need for specific information such as IBAN and BIC. Powered by Visa Direct, Revolut Business customers now only require a card number for transactions, with payments arriving in the recipient’s account within 30 minutes or less. Visa Direct coverage encompasses 78 countries and supports over 50 currencies. The global agreement follows Revolut and Visa’s collaboration to offer card transfers powered by Visa Direct for peer-to-peer payments to ~90 countries in the world in 2023 and the launch of Visa virtual cards for business focused on the B2B travel sector in 2024. James Gibson, general manager at Revolut Business, comments: “We’re excited to launch Instant Card Transfers in the UK & EEA, providing businesses with a simple, instant, and secure way to pay employees, contractors, and customers globally by supporting major card schemes.”