The world is gradually deepening itself into a cashless economy, with several enabling products springing up every day. With this development, it’s as though the cashless economy framework is already at play.
But several businesses are still struggling with cross-border payments, which have contributed to the problems of payment feasibility. However, a company is trying to bring a solution to the cross-border payment issue using Visa Direct.
Providing faster payment service
A boutique payments service provider, NOIRE, is about making it easier for cross-border transactions.
Its chief executive officer Tim Thompson thinks that every business organization with a global reach should have a comprehensive payment platform like NOIRE along with Visa Direct to solve their problems.
He said Visa Direct has a wider reach, as it handles transactions in more than 160 currencies and removes cross-border payment obstacles by reaching 99 percent of bank accounts in 88 countries. Based on a recent data, Visa Direct facilitated more than 2 billion accounts last year alone.
Thompson said with this wider reach, he is convinced that the integration on NOIRE with Visa Direct will solve most cross-border payment issues.
“At NOIRE, we integrate Visa Direct seamlessly and deliver an effective solution, in a way which is simple to use at every point of contact,” he pointed out.
Users who make payments to prepaid or debit cards need to wait for up to 5 business days to conclude their transactions and receive funds. However, payments made through NOIRE don’t take more than 30 minutes to reflect. So, the speedy transaction compared to traditional card payment service makes it very attractive to users, he reiterated.
As a result, Thompson is urging NOIRE’s customers and other intending users to take advantage of the highly secure and seamless manner to receive funds from billions of accounts worldwide.
NOIRE will help to facilitate transactions
Thompson also revealed the important role NOIRE will play when there is a problem with transactions.. According to him, the company will come in handy if there are overlapping regulatory regimes, conflicting payment conventions, or problems resulting from using different currencies.
Instead of dealing with the issues by the customers or their businesses, the NOIRE expert payment service will relieve that burden by taking care of the issue speedily.
Merchants can have a competitive advantage over their rivals when they use Visa Direct through an expert payment service provider since they can deliver real-time payouts to their customers, Thompson stated.
Apart from saving time and money, the integration will allow businesses access previously inaccessible markets using a wide range of currencies.
Most businesses are always having issues with payment platforms, especially those involved in cross-border payments. But, NOIRE wants to change that by providing an effective and enabling environment for speedy use of payment services.