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"Ripple-backed MoneyGram strikes deal with Visa"

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I am going to stealing this information that I posted on an older thread. Visa and MG partnership is nothing new as they have had business agreements in the past. What's more interesting is what I have in bold. 

 

"MoneyGram, Visa team up on cross-border.

While KeyCorp focuses on businesses, MoneyGram and Visa are eyeing P2P. The companies recently  
announced a collaborative solution to provide real-time digital disbursements for MoneyGram customers. Recipients in Mexico and the Philippines will be able to receive money instantly 24/7/365 when the service launches in October.


Funds sent via Visa Direct rails can be used instantly with a recipients’ bank-issued Visa debit card or Visa-branded prepaid card. Recipients can also opt to receive the money in cash at an agent-staffed location, where they would have the option to load the funds onto a Visa-branded prepaid card or send them to a linked bank account in real time. Visa’s senior vice president and head of North American push payments, Cecilia Frew, told PYMNTS’ Karen Webster in a recent interview that the service is a new kind of offering for the company. 


“MoneyGram is the first cross-border use case for Visa Direct,” Frew said. "

Dated September 2018

https://www.pymnts.com/faster-payments-tracker-september-2018

"PayPal and Venmo will leverage the Visa Direct network to enable real time funds transfers, as well – a capability that was first announced on July 21 when details of the Visa/PayPal partnership were disclosed."

"Frew also sees a growing interest in the use of Visa Direct in support of shared economy platforms such as Uber, Lyft, Airbnb, and Task Rabbit, who today use ACH payments to disburse funds to their contractors. "

Dated August 3, 2016

https://www.pymnts.com/news/payment-methods/2016/visa-direct-expands-real-time-payments/

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43 minutes ago, ObeyTheWafflehouse said:

I am going to stealing this information that I posted on an older thread. Visa and MG partnership is nothing new as they have had business agreements in the past. What's more interesting is what I have in bold. 

 

"MoneyGram, Visa team up on cross-border.

While KeyCorp focuses on businesses, MoneyGram and Visa are eyeing P2P. The companies recently  
announced a collaborative solution to provide real-time digital disbursements for MoneyGram customers. Recipients in Mexico and the Philippines will be able to receive money instantly 24/7/365 when the service launches in October.


Funds sent via Visa Direct rails can be used instantly with a recipients’ bank-issued Visa debit card or Visa-branded prepaid card. Recipients can also opt to receive the money in cash at an agent-staffed location, where they would have the option to load the funds onto a Visa-branded prepaid card or send them to a linked bank account in real time. Visa’s senior vice president and head of North American push payments, Cecilia Frew, told PYMNTS’ Karen Webster in a recent interview that the service is a new kind of offering for the company. 


“MoneyGram is the first cross-border use case for Visa Direct,” Frew said. "

Dated September 2018

https://www.pymnts.com/faster-payments-tracker-september-2018

"PayPal and Venmo will leverage the Visa Direct network to enable real time funds transfers, as well – a capability that was first announced on July 21 when details of the Visa/PayPal partnership were disclosed."

"Frew also sees a growing interest in the use of Visa Direct in support of shared economy platforms such as Uber, Lyft, Airbnb, and Task Rabbit, who today use ACH payments to disburse funds to their contractors. "

Dated August 3, 2016

https://www.pymnts.com/news/payment-methods/2016/visa-direct-expands-real-time-payments/

Perhaps Visa and Moneygram are key to kickstarting Ripple's growth, potentially beginning in October?

I wonder if the ATM's initiative will play into this as well ("receive in cash at an short-staffed location").

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Do PayPal, Venmo, and others partner with Visa Direct (a direct competitor/network) because they don't want to partner with Ripple directly? I'd love to wrap my head around this 

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2 hours ago, XRPboi said:

Perhaps Visa and Moneygram are key to kickstarting Ripple's growth, potentially beginning in October?

I wonder if the ATM's initiative will play into this as well ("receive in cash at an short-staffed location").

Why do you say potentially October?

Was it from this quote, "Recipients in Mexico and the Philippines will be able to receive money instantly 24/7/365 when the service launches in October."

If so, that article was published in 2018. If not, disregard my post for not understanding. 

However, it is very ironic that MG and Visa launch a partnership that "Recipients in Mexico and the Philippines will be able to receive money instantly 24/7/365 when the service launches in October (2018)", since Ripple's first corridors were open in Mexico and Philippines. This information implies Ripple may be making a formal announcements a year after these events take place. 

Edited by ObeyTheWafflehouse

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2 hours ago, ObeyTheWafflehouse said:

Why do you say potentially October?

Was it from this quote, "Recipients in Mexico and the Philippines will be able to receive money instantly 24/7/365 when the service launches in October."

If so, that article was published in 2018. If not, disregard my post for not understanding. 

However, it is very ironic that MG and Visa launch a partnership that "Recipients in Mexico and the Philippines will be able to receive money instantly 24/7/365 when the service launches in October (2018)", since Ripple's first corridors were open in Mexico and Philippines. This information implies Ripple may be making a formal announcements a year after these events take place. 

I thought Visa Direct had new initiatives starting this October. 

You think they'll announce in October how much of a success it has been, and there intention to expand to new corridors "soon?" *yawn* 

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18 hours ago, ObeyTheWafflehouse said:

I am going to stealing this information that I posted on an older thread. Visa and MG partnership is nothing new as they have had business agreements in the past. What's more interesting is what I have in bold. 

 

"MoneyGram, Visa team up on cross-border.

While KeyCorp focuses on businesses, MoneyGram and Visa are eyeing P2P. The companies recently  
announced a collaborative solution to provide real-time digital disbursements for MoneyGram customers. Recipients in Mexico and the Philippines will be able to receive money instantly 24/7/365 when the service launches in October.


Funds sent via Visa Direct rails can be used instantly with a recipients’ bank-issued Visa debit card or Visa-branded prepaid card. Recipients can also opt to receive the money in cash at an agent-staffed location, where they would have the option to load the funds onto a Visa-branded prepaid card or send them to a linked bank account in real time. Visa’s senior vice president and head of North American push payments, Cecilia Frew, told PYMNTS’ Karen Webster in a recent interview that the service is a new kind of offering for the company. 


“MoneyGram is the first cross-border use case for Visa Direct,” Frew said. "

Dated September 2018

https://www.pymnts.com/faster-payments-tracker-september-2018

"PayPal and Venmo will leverage the Visa Direct network to enable real time funds transfers, as well – a capability that was first announced on July 21 when details of the Visa/PayPal partnership were disclosed."

"Frew also sees a growing interest in the use of Visa Direct in support of shared economy platforms such as Uber, Lyft, Airbnb, and Task Rabbit, who today use ACH payments to disburse funds to their contractors. "

Dated August 3, 2016

https://www.pymnts.com/news/payment-methods/2016/visa-direct-expands-real-time-payments/

Isn't what I posted in the OP an announcement of what you posted actually going live?

They are both Visa Direct and MG hooking into that. 

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On 9/13/2019 at 5:29 PM, Crypto31 said:

announced yesterday a new debit card deposit service with Visa.

This is the service they are announcing in your OP. 

Prior they announced partnership with visa direct which is, "a real-time payments network for business and person-to-person (P2P) payments, is helping financial institutions and technology companies allow their customers to transfer funds to a debit account in 30 minutes or less." and the debit card service "works with Visa’s real-time payments platform."

So essentially a debt card system using the payments platform. This is good news overall. 

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