Miami, FL – Leap Financial has announced a new collaboration with Visa to integrate Visa Direct into its white-label digital remittance platform. This partnership aims to streamline cross-border money transfers, benefiting clients worldwide with faster and more secure transactions.
By leveraging Visa Direct, Leap Financial will enable financial and non-financial institutions to offer seamless remittances directly to eligible cards, bank accounts, and digital wallets globally.
The initial focus will be on the US and Latin America (LAC) markets, addressing the growing demand for efficient cross-border money transfers within the $64 billion US-Latin America corridor.
Leap Financial’s CEO, Lionel Carrasco, highlighted the significant cost savings this partnership will bring. “Traditional money transmitters charge around 6% in remittance fees,” Carrasco explained. “With advanced technology, Leap reduces this cost to under 1%, streamlining remittance flows and eliminating inefficiencies. Our collaboration with Visa Direct will further enhance our ability to provide faster, more secure transactions.”
Leap Financial’s platform uses embeddable solutions to originate remittances via federal banks, allowing for digital payments and real-time money delivery. The platform also offers full KYC and AML traceability, enhancing compliance and security.
To further improve its technology, Leap recently introduced Lola, an AI-powered “Transactional AI Agent.” Lola provides instant assistance through platforms like WhatsApp and Telegram, making cross-border payment services more accessible.
With the global shift towards digital payments, and a projected 40% decline in cash usage by 2025, Leap Financial’s digital remittance solutions are poised to play a crucial role in fostering financial inclusion.
If you click on a link and make a purchase we may receive a small commission. Learn more. All content on this site is provided with no warranties, express or implied. Use any information at your own risk. Privacy Policy.
Discover more from BITVoxy Digest
Subscribe to get the latest posts sent to your email.
