Checkout.com First to Introduce Visa Direct in UAE
Deal News | Feb 17, 2025 | Zawya
Checkout.com has achieved a significant milestone in the United Arab Emirates' digital payments landscape by becoming the first acquirer to introduce Visa Direct's Push-to-Card solution for cross-border and domestic transactions. This new service, conducted in collaboration with Visa, allows quick and secure real-time fund transfers to eligible Visa cards, offering benefits like fast remittances and simplified transactions. As Checkout.com processes over a million Account Funding Transactions (AFTs) monthly in the UAE, this innovation reinforces the region's push toward a cashless economy and enhances financial inclusion. The UAE, positioning itself as a leader in digital payment methods, benefits from this service with increased operational efficiency and reduced transaction costs for merchants, while meeting consumer demands for faster financial solutions. This development is consistent with Checkout.com's commitment to delivering innovative payment experiences, further supporting the region's digital economy.
Sectors
- Digital Payments
- Financial Technology (Fintech)
- E-commerce
Geography
- United Arab Emirates – The UAE is central to the article because it discusses the introduction of new digital payment solutions specifically within this country's market.
- Middle East – The broader Middle East region is relevant due to the influence and potential spread of the discussed payment solutions within this geographic area.
Industry
- Digital Payments – This industry is relevant as the article discusses advancements in digital payment solutions with Checkout.com's new service offering in collaboration with Visa.
- Financial Technology (Fintech) – Fintech is applicable as the report highlights technological solutions in financial transactions, showcasing the intersection of finance and technology in digital payment advancements.
- E-commerce – E-commerce is relevant due to the emphasis on digital transaction solutions catering to online businesses as mentioned through Checkout.com's services.
Financials
- Over one million AFTs per month – This figure demonstrates the volume of Account Funding Transactions that Checkout.com processes in collaboration with Visa in the UAE.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Checkout.com | Digital Payment Solutions Provider | Companies | A global digital payments company that offers high-performance payment solutions supporting multiple currencies. |
| Visa Inc. | Financial Services Corporation | Companies | A world leader in digital payments enabling transactions across various regions and entities. |
| Shahebaz Khan | Senior Vice President and Head of Commercial and Money Movement Solutions, CEMEA | People | An executive at Visa involved in the announcement regarding the launch of the Push-to-Card solution. |
| Remo Giovanni Abbondandolo | General Manager for MENA at Checkout.com | People | A managerial figure at Checkout.com who commented on the launch's implications for the UAE market. |