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Yahoo
15-04-2025
- Business
- Yahoo
Visa supports cross-border transfers in Bahrain
Visa has launched its Visa+ service in Bahrain, enabling customers to conduct cross-border transfers within the Gulf Cooperation Council (GCC) by using the recipient's mobile number. Visa is launching this new cross-border remittance service in partnership with local banks, through the BenefitPay app. Initially, this service is accessible to clients of Bahrain Islamic Bank (BisB) and Khaleeji Bank. Visa+ allows BisB and Khaleeji Bank customers to send funds to Visa debit and prepaid cardholders across the GCC without the need to share sensitive card or bank account details. The service uses a mobile number as an alias for the transaction, which enhances the security and simplifies the transfer process. This move is part of an initiative to create a cross-border payment network. The initial phase includes BisB and Khaleeji Bank in Bahrain, Emirates NBD in the UAE, and Qatar Islamic Bank in Qatar. The goal is to connect multiple banks across the GCC and eventually expand to include Pakistan and EU countries, facilitating global remittances. Visa+ aims to provide financial institutions with the capability to offer their customers a secure and private money movement experience, relevant for peer-to-peer payments, financing disbursements, and cross-border remittances. Visa Bahrain country manager Ahmed ElKaffass said: "At Visa, we understand the crucial role that fast, secure, and easy payments play in people's lives across the region. 'The introduction of Visa+ in collaboration with BenefitPay, Bahrain Islamic Bank and Khaleeji Bank marks a significant step in transforming remittances, simplifying money transfers, and reshaping the money movement landscape in Bahrain. This innovative service not only enhances convenience for senders but also benefits families, communities, and economies globally." Earlier this month, Visa expanded its portfolio of services with the launch of three new solutions - a reimagined platform, Unified Checkout, and the ARIC Risk Hub. "Visa supports cross-border transfers in Bahrain " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
04-04-2025
- Business
- Yahoo
Visa broadens payment portfolio with three new offerings
Visa has expanded its value-added services with the introduction of three new offerings: reimagined platform, Unified Checkout, and the ARIC Risk Hub. These services are designed to enhance business operations and provide fraud prevention measures. The platform integrates artificial intelligence to assist businesses in data analysis, summarising insights, and responding to changing consumer behaviour. The platform now features AI-driven capabilities, management dashboards, and support for in-person card readers, including Tap to Phone technology. The platform, which is already in use, will be available in the US in the second quarter, with plans to expand to additional countries next year. Visa's Unified Checkout offers a "deploy ready" payment acceptance solution that aims to optimise ecommerce conversion rates by supporting over 25 card and alternative payment methods. As part of the Visa Acceptance Solutions Platform, it includes tools for managing success rates, such as fraud management, 3DS authentication, and tokenisation management. This solution will be available in the US and in pilot stages in other markets in the third quarter. The ARIC Risk Hub, stemming from Visa's acquisition of Featurespace, is a fraud prevention platform that uses adaptive AI to detect and profile genuine customer activity. The ARIC Risk Hub is currently available worldwide. These new services expand Visa's portfolio, which already includes more than 200 value-added services across acceptance, advisory, issuing, and risk and identity categories. Visa Acceptance Solutions global head Rob Cameron said: "At Visa, we talk a lot about unleashing the creativity of commerce – in other words, how do we support retailers, marketplaces and shops to launch new products, enter emerging markets, and grow. These new services were built with exactly that in mind: they're designed to make life easier for businesses, freeing them up to do what they do best.' Visa Value-Added Services president Antony Cahill stated: 'Accepting a payment is a fundamental need of any business. Leveraging new technology to accept payments more efficiently and securely can be what sets a business apart in today's rapidly digitalizing world. With our new services, we're helping businesses harness data-driven insights, simplify the checkout experience, and fight fraud more effectively than ever.' In January this year, the company made headlines for forging an alliance with social media platform X to power latter's digital wallet service X Money, becoming an inaugural partner for X Money accounts. "Visa broadens payment portfolio with three new offerings " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
