Global payments company Visa Inc. has partnered with Bank of the Philippine Islands (BPI) to introduce Visa Direct in the Philippines, a service that allows customers to send money abroad in real time.
The new platform will let BPI clients transfer funds directly to bank accounts, cards, and digital wallets worldwide. The move aims to simplify cross-border payments for individuals and small businesses, making transactions faster, more transparent, and more secure.
The initiative builds on BPI’s existing mobile and digital banking services and is part of the bank’s broader push toward digital transformation.
Data from Visa shows strong demand for digital remittances among Filipinos. About 74 percent of Filipinos prefer sending money digitally, while 66 percent prefer receiving funds the same way. Around 76 percent send remittances at least once a year, and nearly half consider digital transfers safe and secure.
BPI said the partnership will bring the convenience of local real-time payments, such as InstaPay, to international transfers through its mobile app. Visa, meanwhile, said the service will help expand financial inclusion and connect more Filipinos and small businesses to global opportunities.
Visa Direct, launched more than a decade ago, enables fast fund transfers to over 12 billion endpoints across more than 195 countries and territories, supporting 150 currencies.
