Reportedly, Visa Inc. (V) has partnered with Wave, an all-in-one accounting and business banking platform to launch Instant Payouts to Canadian small businesses helping them to manage their cash flow. The platform will be enabled by Visa Direct, Visa’s real-time2 push payments platform, and made available through Wave’s financial institution partner.
“Cash flow can mean the difference between whether a business survives or languishes, and the ability for small businesses to access funds instantly is all the more important in today’s climate. Tens of thousands of our US customers have experienced the benefits of Instant Payouts over the past year, including real-time deposits and 24/7 access to funds. Introducing this feature to our Canadian customers will make a meaningful impact in helping Canadian small businesses thrive.” stated Les Whiting, Chief Financial Services Officer at Wave and H&R Block.
Wave’s Instant Payouts feature integrates Visa Direct directly into Wave’s invoicing and payments platform, offering Canadian customers a new way to access the money they’ve earned within seconds. Instant Payouts push funds directly to a customer’s bank account, omitting any hold periods and changing the way small businesses manage their cash flow. Wave customers benefit by receiving funds in real-time, 24 hours a day, and even on evenings, weekends and holidays. Instant Payouts allow business owners to use the money they’ve earned immediately for further business expenses.
Wave’s Instant Payouts feature is supported by the power of Visa’s network offering secure, convenient, real-time funds delivery directly to eligible Visa cardholder account credentials. Instant Payouts are available to Wave customers in Canada and in the US.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Its mission is to connect the world through the most innovative, reliable, and secure payment network – enabling individuals, businesses, and economies to thrive. Their advanced global processing network, VisaNet, provides secure and reliable payments around the world and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying its brand, products, people, network, and scale to reshape the future of commerce. To learn more about Visa (V) and to track its ongoing progress please visit the Vista Partners Visa (V) Coverage Page.)
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