Quicklly and Visa have partnered to launch a cross-border remittance solution to India with real-time capabilities. In this day and age, customers expect cross-border payments to be as swift and effortless as domestic transactions.

As stated in the announcement, through its Visa Direct solution, Visa is actively working to eliminate the friction associated with cross-border payments. Quicklly's South Asian customer base, coupled with Visa's global scale, presents an opportunity to deliver fast, efficient, and hassle-free cross-border payment solutions to Indians worldwide. Through this collaboration, Quicklly seeks to contribute to the much-needed innovation in the real-time cross-border payments space and aims to be a 24/7 payment channel, globally, to and from India.

Officials from Quicklly stated that enabling an easy-to-use, real-time remittance solution has increasingly become one of the most critical capabilities to tackle head-on. Millions of people rely on secure and convenient emittances to send vital payments to their loved ones abroad. Both companies, under this partnership are committed to making a valuable impact on the lives of individuals and families across borders Scheduled for a Q3, 2024 launch, this technology, combined with a customer-centric approach, intends to deliver a simplified solution that will transform the way individuals send and receive money to family and friends in India and the South Asian subcontinent.

Other recent updates from Visa In April 2024, Abu Dhabi Islamic Bank (ADIB) and Visa announced Visa Installments Solution (VIS) is officially live for ADIB covered cardholders in the UAE. According to the announcement, NEOPAY, the payment subsidiary of Mashreq, enables VIS at local merchants in the UAE. The solution would available at Sharaf DG (Dubai Mall), Jacky’s (Mall of Emirates, Deira City Centre, Khalidiyah Mall, Burjuman Centre and Zahia City Centre) & iStyle (Mirdif City Centre) with more merchants to enable VIS.

In the same month, Visa launched a stablecoin analytics website via a partnership with Allium Labs. Representatives from Visa's cryptocurrency wing shared insights in a blog post regarding the rationale behind publishing these analytics. The data presented highlighted that stablecoin volumes have surpassed PayPal and are nearing Visa’s transaction levels, as indicated by a frequently shared graphic mentioned by ledgerinsights.com.

These Visa officials also noted that while stablecoin transactions include bot activity, such as arbitrage, liquidity provision, and market making, these activities differ from conventional settlement transactions. .