Visa Inc. announced early Thursday it will launch account-to-account (A2A) payment capabilities in the United Kingdom in early 2025. The move will allow U.K. consumers paying bills to do so directly from their bank account, as opposed to paying by check, cash, or card.
Visa’s plans for the service, called Visa A2A, include supporting product subscriptions and services including digital streaming, gym memberships, and food boxes.
The addition of A2A payments capabilities hands Visa a competitive edge, as A2A payments are a popular payment method outside the United States, says Trevor Forbes, director of engagement strategy at the payments consultancy and research service TSG.
“A2A is already popular in certain markets overseas,” Forbes says by email. “Adding A2A gives Visa greater involvement in this trend and it gives greater choice in payment options for users from a well-trusted brand.”
The growing popularity of A2A payments is being driven by a number of factors, including a trend toward open banking and government-backed initiatives. In the case of the latter, a classic example is taking place in Brazil, where the central bank established the Pix A2A system, Forbes adds.