London, U.K — June 4, 2018
Valitor, an international payment solutions company, today announced it will offer customers and partners access to instant deposits and settlements by Q3 in 2018 by leveraging Visa Direct – Visa’s real-time* payments platform. This integration will allow merchants to receive payments in real-time, thereby improving on settlement days after the transaction.
Through Visa’s secure and reliable global network, Valitor can help transform domestic and cross-border settlement times for merchants. As a result, merchants are able to access these funds faster, removing cash flow problems.
Ian Snead, Director of Acquiring at Valitor comments, “Enabling Visa Direct allows Valitor to optimise cash disbursements, adding meaningful value to merchants by making funds available on demand.”
Working with Visa means the new payments experience will replicate that of a cash transaction so businesses can truly experience an instantaneous payments process. Valitor will now be able to ensure that the money from card payments is immediately accessible and ready to use.
“For decades, Visa has led the way in transforming the way we pay in stores and online. Now, we have an opportunity to transform how consumers and businesses pay each other in a fast, convenient and secure way,” said Mike Lemberger, Senior Vice President of Product Solutions, Visa in Europe.
“Visa Direct is a proven platform that enables companies like Valitor to meet the demand for real-time payments, backed by the ubiquity, cost-efficiency and speed of Visa’s global network.”
This service will be available across Europe to all of Valitor’s partners and customers. Visa Direct is a real-time payments platform that allows companies to leverage Visa’s global reach and scale to transform domestic and cross-border payments for businesses and consumers.
Valitor is an international payment solutions company. We are dedicated to helping partners, merchants and consumers make and receive payments – making buying and selling easy. We offer a single connection for payments of all kinds, from in-store through online and everything in-between. Founded in 1983 and headquartered in Iceland, we operate across 22 European countries through our Valitor, Chip & PIN Solutions and AltaPay brands – with strong presence in Iceland, the UK, Nordics and also in pan-European retail. We offer our service direct to retailers, but also go to market through strategic partnerships. We have principal membership of Visa and Mastercard, operate with an EMI license under the FCA and have a full cross-border EEA credit license in Iceland. Join the payments conversation @Valitor_Group.
*Actual fund availability varies by financial institution. Visa in Europe has announced a mandate that requires card issuers to enable real-time payments by October 2018.
About Visa Inc.
Visa Inc. (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 connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analogue to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit (www.visaeurope.com), the Visa Vision blog (vision.visaeurope.com), and @VisaNewsEurope.
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