Encoded, a leading provider of payment orchestration and gateway solutions, today announced its new partnership with Visa and approval as a Visa Direct Preferred Partner.
As a Visa Direct Preferred Partner, Encoded is able to offer instant peer-to-peer payments via its Gateway Services API, as a well as being able to leverage the expertise and insight of the Visa Direct team to provide an exemplary money movement solution to customers.
Visa Direct is a platform that enables the cross-border movement of money, allowing individuals and businesses to instantly send and receive money via the Visa network. Visa Direct uses its existing global payments network to perform bi-directional money movement. It enables transactions to be performed instantly, making Visa Direct an attractive alternative to the traditional banking networks, which often can be slow and come with high costs, especially for cross-border transactions,
Adam Bromage-Hughes, CTO of Encoded, said: “Our acceptance as a Visa Direct Preferred Partner further underscores our commitment to customers to offer an industry-leading payment orchestration and gateway platform. Utilising Visa Direct’s solution enables us to offer a payout and peer-to-peer payment solution at the forefront of technology that solves many of the issues of legacy banking systems by providing instant money movement, lower and more transparent costs, and greater security.”