Visa Direct is a payments platform designed to allow financial institutions, developers and partners to offer real-time person-to-person (P2P) payments and business disbursements such as insurance claims payments, contractor payments, tax refunds, and other forms. The platform can transfer funds from more than 200 million Visa debit cards in the US.
Recently, Early Warning, a company made up of financial institutions offering real-time payments, authentication and risk mitigation, said it will enable real-time P2P payments on its clearXchange network using US-issued debit cards through the Visa Direct platform.
