Visa and Dash solutions expand instant payments partnership across sectors

Digital payments company Visa and Dash Solutions has expanded its partnership to enable customers to send and receive payments in real-time via eligible cards, bank accounts and digital wallets. The aim of this offering is to improve the way businesses and consumers handle money by leveraging the real-time payment capabilities of Visa Direct.

According to the entities, this cooperation is aimed at various sectors, including health care and insurance, and is aimed at streamlining payment processes. With Visa Direct, leading healthcare organizations can now digitize these disbursements in near real time.

Stephen Faust, CEO of Dash Solutions, mentioned: “Our partnership with Visa Direct enables us to offer unrivaled withdrawal capabilities through our SpendIT SendIT offering. This means companies can tailor solutions to their specific needs, ensuring every withdrawal is as efficient and user-friendly as possible.

Additionally, the transition from paper checks to digital checks payments

it also brings significant savings for healthcare providers. By eliminating paper and optimizing payment flows, these organizations can reduce operational costs while improving the overall payment experience for their customers. This change is proof of how real-time payments can streamline processes and increase efficiency.

This cooperation is based on the latest solution from Dash Solutions
acquisition KyckGlobal, which has integrated direct connections to major payment networks, including Visa Direct, with the Dash Solutions platform. This move eliminates the need for additional third-party processors, leading to cost savings and streamlined operations for customers.

Integration of major payment networks

According to an official statement, Dash Solutions has achieved over $50 billion in total payment volume, doubling its payout segment and increasing headcount by 20% in 2023. The company is a payments platform that provides customers with digital tools to manage payments and engagement programs.

Meanwhile, Visa and Mastercard face a legal dispute in the UK after a London tribunal approved lawsuits brought by merchants over inflated interchange fees. The Competition Appeal Tribunal recently ruled that class actions against Visa and MasterCard can continue.

Previously, the payments giants have been involved in numerous lawsuits across the UK. These cases concern fees called multilateral interchange fees, which retailers are required to pay every time a customer uses their cards. The lawsuit challenges multi-party interface fees charged by the two payment giants when consumers use their cards to make purchases.

Additionally, the transition from paper checks to digital checks payments

it also brings significant savings for healthcare providers. By eliminating paper and optimizing payment flows, these organizations can reduce operational costs while improving the overall payments experience for their customers. This change is proof of how real-time payments can streamline processes and increase efficiency.