Move Money Your Way

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Visa Direct

The Asia-Pacific region is on the cusp of a digital payments revolution. Soon, the region will facilitate over US$40 trillion in commercial money movement, excluding China’s domestic payments market. The number of digital transactions is also set to skyrocket, from 528.7 billion in 2022 to 1.46 trillion in 2028.

Multiple trends are driving this growth, including high mobile penetration rates, a growing tech-savvy user base and supportive government policies that are encouraging users to go digital. Additionally, migration, global trade, financial inclusion and the rise of the gig economy demand that individuals and businesses are able to move money from one country to another easily, securely and quickly.

However, facilitating swift and seamless cross-border payments is often a challenge. In the business banking space, high transaction costs, currency volatility and a lack of expertise in navigating foreign exchange (FX) markets add cost and time to overseas transactions.