Visa has announced
that consumers in the U.S. will soon be able to receive and send funds to any eligible Visa credit, debit or prepaid account, anywhere in the world.
The new Visa personal payments service, which eliminates the inefficiencies of cash and checks for payments between individuals, was made possible through technical enhancements to VisaNet, Visa’s global payments processing network, and through the introduction of a new Visa transaction type that allows financial institutions to accept incoming funds.
Additionally, Visa announced strategic product agreements with CashEdge (announcement
) and Fiserv (announcement
). Both will have access to VisaNet, enabling them to integrate the Visa personal payment service into their respective P2P platforms - Popmoney and ZashPay.