Visa and the Bank of the Philippine Islands (BPI) announced a partnership to roll out Visa Direct, a real-time push-payment system designed to speed up and streamline international money transfers for retail users and businesses.
The service allows BPI customers to send funds abroad directly to bank accounts, cards, and digital wallets, aiming to simplify cross-border payments and improve transaction speed and transparency.
Visa said the initiative builds on BPI’s digital banking platforms as part of its broader push to expand modern financial services for Filipino customers.
The launch comes as digital remittances continue to grow in the country, with Visa data showing strong adoption among Filipinos who increasingly rely on online channels for sending and receiving money.
The report noted that 74% of Filipino respondents send money digitally, while 66% prefer to receive remittances through digital platforms.
It also showed that most Filipinos involved in remittances transact at least once a year, with many viewing digital channels as a safer and more convenient option.
BPI officials said the partnership aims to extend the same ease of domestic instant payments to international transfers through the bank’s mobile application.
Visa Philippines Country Manager Jeffrey Navarro said the collaboration supports broader financial inclusion by improving access to global payment systems, particularly for small businesses and individuals.
Visa Direct, which operates in more than 195 countries and territories, enables near real-time fund transfers to eligible accounts and wallets worldwide.