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Instant Money Transfer Infrastructure Expands in North America

Instant Money Transfer Infrastructure Expands in North America

CoinspaidmediaCoinspaidmedia2025/02/04 22:44
By:Coinspaidmedia

Regional banks and financial institutions in North America will now be able to offer business clients instant money transfers at any time of day, including emergency payments and transactions between accounts at different banks.

Instant Money Transfer Infrastructure Expands in North America image 0

Jack Henry is integrating Visa Direct into its Rapid Transfers service, enabling regional and community banks, as well as credit unions operating in North America, to provide small and medium-sized businesses with the ability to make instant payments and transfers to cards, bank accounts, and digital wallets.

Specifically, the Visa Direct integration will enable: 

  • 24/7 instant transfers between accounts at different banks;
  • uninterrupted access to funds for unexpected expenses, travel, or urgent payments;
  • direct transfers to cards, bank accounts, and digital wallets, thanks to compatibility with multiple payment systems.

Yanilsa Gonzalez-Ore, SVP at Visa for Money Movement North America, emphasized that the partnership with Jack Henry will help meet the growing demand for instant payments among small and medium-sized businesses served by regional banks.

This initiative marks the first phase of a strategic collaboration between Jack Henry and cloud-based payment processor Moov, aimed at enhancing payment solutions for financial institutions and small businesses. In the near future, the company plans to expand the service’s capabilities with a cloud-based payment acceptance platform, helping regional banks boost competitiveness, attract new clients, and increase deposit volumes.

On January 10, 2025, a new set of regulations partially took effect , requiring payment service providers (PSP) to ensure the real-time processing of credit payments across the European Union and beyond the eurozone. Full implementation is expected by 2028.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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