Canadian payments processor Nuvei has integrated Visa Direct for Account into its global payments platform.

The technology will allow merchants to send funds directly to the bank accounts of consumers and workers in eligible countries, enabling businesses to offer multi-currency account-based payments and faster availability of funds.

Visa Direct for Account supports a variety of use cases, including gig economy earnings, insurance claims, remittances, market settlements, loan disbursements and digital asset payments.

The initiative aims to reduce transfer fees and exchange costs compared to traditional methods, while simplifying treasury workflows through a single integrated payment platform.

The first phase of implementation will begin in Europe, with additional markets and features planned for 2026.

Nuvei currently serves 200 markets around the world, with local acquiring in 50 markets and connectivity to 680 local and alternative payment methods.

The partnership builds on a previous collaboration between the two companies, including Nuvei's recent support for Visa's agent commerce initiatives and previous integration of Visa Direct for Card functionality in a range of countries including Colombia.

Phil Fayer, Nuvei's president and chief executive, emphasised that modern consumers expect immediate access to their money, whether it is a payment, a refund or a remittance option.

“By expanding our Visa Direct offering, we’re empowering merchants to meet those expectations with faster, more convenient, and more reliable payouts that enhance everyday financial experience,” he added.

Commenting on the partnership, Vira Platanova, global head of Visa Direct, added that the integration will enable the two companies to help more businesses reach beneficiaries with features designed for scalability, compliance and operational simplicity.

Visa Direct currently reaches over 11 billion endpoints worldwide across cards, accounts and digital wallets.

In 2024 alone, Visa processed over 10 billion Visa Direct transactions, up from 1.6 billion in 2019.

Last year, Nuvei announced it will go private as part of a takeover deal by Advent.

The private equity firm agreed to buy the company for $6.3 billion.

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