Visa has launched a money movement advisory practice in the US and Canada to help its clients take advantage of the increasing opportunities in the money movement industry.

The new practice is run by Visa Consulting & Analytics (VCA), the payments consulting advisory arm of Visa, and will draw on VCA’s network of over 1,300 consultants, data scientists, technology developers, and product designers across 75 offices globally.

According to data from McKinsey, the global money movement industry is estimated to be worth around $200 trillion.

The advisory service will concentrate on assisting clients with their money movement issues including strategy definition and user experience optimisation.

Visa said it has launched the advisory service in response to the increasing demand for mobile and frictionless payments.

It added that its customers frequently enquire about money movement, which includes transfer of funds across a variety of platforms and channels.

"Clients are actively seeking effective strategies to meet the increasing customer demand for quick, reliable payments," said Kate Manfred, North America head of advisory services at Visa. "Visa can be their strategic partner, offering innovative solutions for money movement that will drive new sources of growth and customer retention.”

---