Visa Direct Offers Person-to-Person Payments Through clearXchange Network
Early Warning announced on Tuesday that Visa has joined its clearXchange network, which allows users to send person-to-person (P2P) payments using their debit cards on the Visa Direct platform.
The clearXchange network enables customers of participant financial institutions to send money to anyone with a United States bank account. It currently services more than 100 million online banking and 70 million mobile banking users. Joining with Visa means the company will now reach the 200 million Visa debit card users.
“Early Warning’s participation in the Visa Direct program is an important step in our faster payments initiative,” said Lou Anne Alexander, group president, payments, Early Warning. “We are pleased to work with Visa to bring more U.S. consumers the benefits of faster payments.”
“Visa’s focus has always been to offer fast and convenient payments to financial institutions and their card holders. With Visa Direct, we can deliver on that goal by leveraging the existing payments infrastructure to allow anyone to make secure P2P payments within seconds,” said Jack Forestell, senior vice president of global product, Visa Inc.