(News Bulletin 247) – Visa announced on Tuesday that it has partnered with PayPal and Venmo as part of a pilot project aimed at supporting the development of Visa+, its new application for transferring money between individuals.
Under the terms of the agreement, Venmo and PayPal users in the United States will be able to transfer funds between the two platforms by the end of the year.
In its press release, Visa specifies that its Visa+ service does not require you to hold a Visa card but that it allows you to create a personalized exchange system linked to their Venmo or PayPal accounts.
Individuals using either application will then be able to receive and send payments quickly and securely between the platforms.
In order to ensure the interoperability of Visa+, the credit card issuer also plans to collaborate with other partners such as Western Union, DailyPay, i2c or TabaPay.
The Visa+ application should be launched in the United States by the end of the year with a more global marketing planned for mid-2024.
It should also be noted that Visa announced yesterday the cooptation within its board of directors of Pam Murphy, a former executive of Oracle and the current general manager of the cybersecurity firm Imperva.
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