RCBC, Visa launch real time payments and money transfer platform in the Philippines

Visa Direct reaches 8.5 billion endpoints in over 190 countries and territories.

Visa has partnered with Rizal Commercial Banking Corporation (RCBC) to launch Visa Direct in the Philippines, enabling real-time payments and money transfers.

Launched over a decade ago, Visa Direct reaches 8.5 billion endpoints in more than 190 countries and territories and transacts in 160 currencies.

It builds on partnerships with companies like Thunes, TerraPay, and Tencent to enhance digital wallet usage and financial inclusion.

The World Bank estimates that global cross-border payments and remittances reached $905b in 2024, an increase of 4.6% from the previous year.

Visa and RCBC are looking to integrate additional features in the partnership, including enhanced fraud detection mechanisms and multi-currency wallets, said Jeffrey Navarro, bVisa Country Manager for the Philippines.