The world leader in digital payments Visa and global cross-border peer-to-peer (P2P) payments and money transfer service provider MoneyGram International recently launched a real-time P2P payment solution to Viet Nam.

Visa and MoneyGrame tie up to provide a real-tim P2P payment solution for Viet Nam (Photo: tapchitaichinh.vn)

This latest integration in the partnership between Visa, MoneyGram and several commercial banks across the country enables customers to transfer money from the US, the UK and 18 other European countries to Viet Nam quickly and securely via Visa Direct. Customers can transfer money digitally through the MoneyGram mobile app or website almost instantly to any Visa cardholders in Viet Nam.

According to Country Manager at Visa Vietnam and Laos Dang Tuyet Dung, the digital payment will help MoneyGram customers to quickly and conveniently receive money into their bank accounts via Visa Direct.

"Cardholders can use any Visa debit or prepaid card to receive cross-border payments via Visa's real-time push payment solution”, she said, adding the partnership with MoneyGram will support Viet Nam's economic growth and streamline the remittance transferring process.

With Visa Direct, users can transfer up to 2,500 USD per transaction and 10,000 USD per day. From now until June 30, 2021, customers can send money to a Visa debit card in Viet Nam without incurring a transfer fee.

Viet Nam is one of the top ten remittance recipients in the world. Millions of Vietnamese expats will now be able to use MoneyGram to send money seamlessly and conveniently to their family and friends at home.

Source: VNA