KyckGlobal signs US push payments partnership with Visa
Payments platform KyckGlobal has signed a collaboration agreement with Visa aiming to expand the availability of push payments to US commercial firms.
KyckGlobal’s platform will work alongside Visa’s Direct service
According to the two firms the growing popularity of push payments, which allow for the sending of money directly to a recipient, has fuelled an increasing interest in the method among businesses in the US.
KyckGlobal has a cloud-based funds disbursement platform, that will work alongside Visa Direct, the payments giant’s push payments solution, to “broaden the spectrum of use cases” for push payment beyond person-to-person (P2P).
“Real-time payments offer a $10 trillion opportunity in the United States,” says Donald Boeding, board member of KyckGlobal.
“The vast majority of that opportunity lies in funds disbursements by businesses. KyckGlobal’s front end, supported by Visa’s reach and network infrastructure, will unlock real-time payments for countless industries.”
Earlier this week Visa invested in open banking platform Railsbank alongside Japanese venture capital firm Global Brain.
The firm has also poured $210 million into two programmes aimed at helping small and medium-sized enterprises (SMEs) during the coronavirus pandemic.
