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HomeeCommerce News36% rise in Visa Direct Transactions with real time payments

36% rise in Visa Direct Transactions with real time payments

Visa’s Tap to Pay is still on top. It facilitates real time payments and quick payouts. It does things through Visa Direct. Payment volume has surged by 10% in the fiscal 4th quarter with the credit out-spacing debit. The debit volume increased 5% in the continuous currency to $1.4 trillion. The credit volume grew by 20% to $1.48 trillion.

The cross-border volumes were 49% high. The total number of cards in force increased by 9%. Debit cards increased by 10%. Credit cards grew by 7%. The merchant locations, like locations from payments facilitators, increased by 11%. It indicated network acceptance expansion. It is leading to better real time payments that are smooth and effortless.

The tokenized credentials grew 9% every year and are up 13%. The company sees tokenization as crucial to the ecosystem’s security. People expect it to have a positive impact on merchants and issuers when it comes to fraud.

The penetration of Tap to pay grew by 10%. And now, the total is 54% of the face-to-face transaction. However, it excludes Russia.

20 extra nations have helped with this. The tap-to-pay transactions have crossed the 1 billion transaction mark in the fiscal year. In the United States, Tap-to-Pay has generated over 1 billion tap transactions for the 1st time in July.

Visa logged about $1.5 trillion in payments volume for the entire year. In the 4th quarter, the B2B payments were about $400 billion. The focus is on card-based payments when it comes to B2B. Also, it includes accounts payable, accounts receivable, and cross-border payments.

Visa’s robust security added all such potential and offered peace of mind to the customers. It facilitates seamless real time payments. Satisfied customers love the services. This is the primary reason behind the growth.

People are putting their best efforts into coming up with the best tech to improve customer satisfaction. It will be the ultimate reason behind the growth and expansion of the company.

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