MoneyGram International, Inc., a global leader in cross-border P2P payments and money transfers, and Visa, the world’s leader in digital payments, have launched a real-time peer-to-peer (P2P) payment solution to Vietnam.
P2P Payment enables customers to transfer money from the US, UK and 18 other European countries to Vietnam quickly and securely through Visa Direct. Consumers can transfer money digitally through the MoneyGram mobile app or website to arrive almost instantly to any Visa cardholder located in Vietnam.
Vietnam is one of the top 10 remittance recipients in the world. This partnership is considered to be an important element for the country’s economic growth by streamlining the remittance transferring process.
With Visa Direct, customers can now transfer up to USD 2,500 per transaction and USD 10,000 per day. From now until June 30, 2021, consumers will be able to send money to a Visa debit card in Vietnam without incurring transfer fees.
(Sources: Bizhub, IBS Intelligence)