Visa allows direct money transfer from one card to another

Visa is implementing a new money transfer service to allow customers send funds in real-time to other cards using the VisaNet network. For the first time the service was activated by Russia's largest payment kiosk operator, 1st Processing Bank (QIWI Group), and Ukraine's largest bank, PrivatBank earlier this week. Now Visa plans international roll-out.

Using the service customers just specify their Visa card number to initiate the payment. It eliminates any need to fill out different forms and give away routing information such as bank codes and branch addresses.

When processed through VisaNet, funds are credited directly to the eligible Visa credit, debit or prepaid account in minutes, freeing recipients from having to visit agent locations to collect cash.