- Euronet (EEFT, Financial) partners with Visa to integrate Visa Direct into its Money Transfer segment.
- The partnership expands Euronet’s network by adding 4 billion Visa debit cards.
- Funds can now be transferred within minutes by simply providing recipient's name and card number, safeguarded by dual security systems.
Euronet Worldwide, Inc. (EEFT), a global leader in payment processing, has announced a strategic partnership with Visa to integrate Visa Direct into its Money Transfer segment. This collaboration, involving Ria Money Transfer, Xe, and Dandelion, significantly expands Euronet's real-time payments network, now including access to 4 billion Visa debit cards worldwide.
The integration enhances Euronet's existing network, which already reaches 3.2 billion mobile wallet accounts, 4 billion bank accounts, and 624,000 locations across nearly 200 countries and territories. With this expansion, customers can send funds to Visa debit cards within minutes by providing the recipient's name and card number, ensuring transactions are protected by Visa's security infrastructure and Euronet's compliance framework.
This partnership addresses a substantial market opportunity, as 52.8% of people aged 15 and above globally own debit cards. According to The Nilson Report, debit and prepaid card transactions are projected to reach $1.1 trillion worldwide by 2029, indicating strong growth potential. By expanding its money transfer services, Euronet strengthens its competitive position against industry rivals.
Euronet's CEO of the Money Transfer segment, Juan Bianchi, emphasized the collaboration's role in enhancing their digital offerings while maintaining high security standards. Visa's involvement will help further digitize Euronet's remittance services, providing fast, secure, and transparent payments.
The integration represents the first phase of a broader collaboration, with both companies committed to driving innovation and growth in global payment solutions. This development promises increased revenue growth for Euronet, leveraging its expanded payment corridors and enhancing its global remittance market presence.
