Visa has partnered with Rizal Commercial Banking Corp. (RCBC) to launch Visa Direct in the Philippines, offering real-time international money transfers to eligible cards, bank accounts, and digital wallets in over 190 countries and territories.
The new service is designed to support faster and more secure global payments for both individuals and businesses. It aims to address gaps in cross-border transfers and promote wider financial inclusion in the country.
“In partnering with RCBC on this innovation, we hope to bridge outbound cross-border payment gaps and help widen financial inclusion,” said Jeffrey Navarro, Visa country manager for the Philippines.
“Visa Direct underscores Visa’s commitment to fast, secure, and convenient money movement platforms to connect Filipinos to more opportunities beyond borders,” said Navarro.
“This partnership with Visa outlines our steadfast commitment to convenience, speed, security and flexibility for our customers,” said Reginaldo Cariaso, president and CEO of RCBC.
Global cross-border payments and remittances reached \$905 billion in 2024, according to the World Bank. Seventy-four percent of Filipino respondents prefer to send money digitally, among the highest in Asia Pacific.
Visa Direct, launched more than a decade ago, supports peer-to-peer payments and fund disbursements. It reaches 8.5 billion endpoints and supports transactions in 160 currencies. Visa also works with partners like Thunes, TerraPay, and Tencent to expand the reach of digital wallets.
Navarro said Visa and RCBC plan to add features such as multi-currency wallets and enhanced fraud protection.
“Visa Direct strengthens our push for inclusive, tech-enabled banking by making global money transfers faster and more accessible,” said Lito Villanueva, executive vice president and chief innovations and inclusion officer of RCBC.