TransferWise and Visa established a global agreement to expand the former’s multi-currency debit cards using new Visa Cloud Connect infrastructure. The new debit cards will cover Asia Pacific, Europe, Latin America, Caribbean, Middle East, U.K, and the U.S.
- Visa’s executive vice president and chief product officer believes the partnership creates a “blueprint for other fintechs to quickly and securely connect with Visa’s massive scale and reach.”
- “We’ve been working to remove borders in the world’s financial networks. Cards should work the same across borders too”- Kristo Kaarmann, TransferWise co-founder and CEO
- Kaarmann believes the collaboration with Visa impacts the next generation of multinational financial institutions across the globe.
Visa stock is currently declining. V: NYSE is down 1.74% on premarket.