skip to main content

Visa preps for US pay-by-bank services

Payments Dive

  • Card network giant Visa is preparing to offer pay-by-bank services in the U.S. following its extension of such services in Europe by way of its 2022 acquisition of the open banking firm Tink, which enables banks, merchants and fintechs to move money.
  • Visa has refined the Tink service, initially rolled out in Europe, and it’s gearing up to launch in the U.S. now with some pilot customers, Visa Chief Product and Strategy Officer Jack Forestell said at an investor conference last week. 
  • “We’ve been working behind the scenes to create the foundations for deploying it here,” Forestell said at JPMorgan Chase’s global technology, media and communications conference on May 21. “That includes bank connectivity, that includes agreements with banks and processors to make sure that we’ve got high-quality ability to authenticate customers and link back into them. We signed some pilot customers and now we’re ready to go, and launch a pay-by-bank service.”

Read more – Source