Visa and Revolut team up to launch cross-border business payments

Visa and Revolut have announced a partnership to transform cross-border business payments. Utilising Visa Direct’s extensive network, this collaboration promises real-time international transactions for business customers in over 78 countries and 50 currencies. This initiative addresses longstanding challenges in international transfers, offering a more efficient and cost-effective solution for businesses globally.

Historically, cross-border payments have been fraught with issues such as high fees, lengthy processing times, and complex requirements that vary from country to country. Businesses often grapple with the need for specific information such as IBAN and BIC codes, while also contending with expensive transfer fees and delays of several days. The new offering, dubbed Instant Card Transfers, aims to simplify this process dramatically.

Revolut Business customers will now be able to send money worldwide in real-time, requiring only a card number to initiate transactions. This streamlined approach is expected to significantly reduce the friction associated with international payments, with funds arriving in recipients’ accounts within 30 minutes or less.

Mark Jamison, Senior Vice President of Global Clients at Visa, notes: “We’re delighted that Visa Direct’s global reach, security, and reliability will enable Revolut’s business customers to move money worldwide with speed and confidence. This step deepens our collaboration with Revolut to continue their impressive track record of growth and product differentiation.”

Implications for SMEs

The implications of this development are far-reaching, particularly for small and medium-sized enterprises (SMEs) operating in increasingly globalised markets. From startups paying for overseas contractors to travel firms managing customer compensation across borders, the new system promises to streamline operations and reduce administrative burdens.

James Gibson, General Manager at Revolut Business, highlights the practical benefits: “We’re excited to launch Instant Card Transfers in the UK & EEA, providing businesses with a simple, instant, and secure way to pay employees, contractors, and customers globally by supporting major card schemes.”

Visa and Revolut: a growing partnership

This agreement is not an isolated development but rather part of an ongoing collaboration between Revolut and Visa.

In 2023, Revolut and Visa joined forces to offer card transfers powered by Visa Direct for peer-to-peer payments to approximately 90 countries worldwide. This was followed in 2024 by the launch of Visa virtual cards for businesses, with a particular focus on the B2B travel sector.

For Revolut, this partnership represents another step in its ambitious growth strategy. The company, which boasts more than 45 million retail customers and hundreds of thousands of business customers worldwide, has been steadily expanding its suite of financial services.

Mark Jamison of Visa concludes: “This collaboration exemplifies our commitment to fostering innovation in the payments ecosystem. By combining Revolut’s agility with Visa’s global reach, we’re creating solutions that address real pain points for businesses operating in an increasingly interconnected world.”

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