US fintech company Astra (website) has partnered with Visa to enable faster payments for millions of end users and plans to offer instant card-to-card financing as a service. Astra uses Visa Direct, Visa’s real-time payment service, to enable users to fund cards, wallets, and other accounts with their eligible debit cards.
The fintech company offers a payments platform that lets developers quickly and securely add remittance capabilities to their existing applications in as little as one week of development. Astra’s platform is integrated via an API and is focused on scalability and automation, eliminating the need for product developers to worry about additional compliance, capital commitment or operational costs.
Fintechs need to adapt payment options to meet demand.”
Gil Akos, CEO of Astra, says, “Every consumer and business knows the value of time to money very well. Every fintech product faces the challenge of providing faster account funding options to its users. Through our collaboration with Visa, we can offer fast payments for me-to-me and peer-to-peer transactions. Easy integration for advanced payments through Visa Direct via Astra’s API will enable a world of banking, investment and marketplace products innovations.”
Yanilsa Gonzalez-Ore, SVP and North America Head of Visa Direct, added, “In a world where consumers expect to move money quickly and conveniently, fintechs and neo-banks must enhance their payment options to meet these new demands. Visa Direct enables Astra’s customers to transfer money in real-time and provides end users with a fast option for transferring money between accounts.”