Visa has partnered with Rizal Commercial Banking Corporation (RCBC) to make sending money abroad faster, safer, and more convenient for Filipinos. This new service, called Visa Direct, allows real-time payments and money transfers to billions of accounts in over 190 countries and territories. For families with loved ones overseas, it means more options to send and receive funds without the long waits or complicated processes.

Meeting the Needs of a Global Filipino Community

According to the World Bank, cross-border payments and remittances reached 905 billion US dollars in 2024, marking a steady rise in the movement of money around the globe. Many Filipinos are part of this trend, with 74 percent preferring to send and receive money digitally. The ease, safety, and reliability of digital transfers are key reasons for this shift.

Visa Direct aims to meet this demand by offering a platform that sends funds directly to eligible cards, bank accounts, and digital wallets anywhere in the world. With connections to over 8.5 billion endpoints and the ability to process transactions in 160 currencies, the service helps simplify what used to be a time-consuming process.

A Platform for Families and Businesses

For parents managing household finances or supporting relatives abroad, Visa Direct offers the advantage of speed and security. For businesses, it opens the door to smoother international transactions without the delays of traditional bank transfers.

Jeffrey Navarro, Visa Country Manager for the Philippines, said, “Digital cross-border payments and remittances are crucial in supporting the Philippine economy – and Visa Direct underscores Visa’s commitment to fast, secure, and convenient money movement platforms to connect Filipinos to more opportunities beyond borders. In partnering with RCBC with this innovation, we hope to bridge outbound cross-border payment gaps and help widen financial inclusion. We look to working with other partners as well in helping transform remittances for Filipino consumers and businesses here and across the world.”

Expanding Access and Financial Inclusion

RCBC’s Executive Vice President and Chief Innovations and Inclusion Officer Lito Villanueva shared, “Visa Direct strengthens our push for inclusive, tech-enabled banking by making global money transfers faster and more accessible. This is a vital step in expanding digital financial services for every Filipino.”

RCBC President and Chief Executive Officer Reginaldo Cariaso added, “RCBC continues to lead innovation in banking and digital payments, and this partnership with Visa outlines our steadfast commitment to convenience, speed, security and flexibility for our customers.”

With plans to add enhanced fraud detection and multi-currency wallet features, Visa and RCBC are working to make cross-border payments even more efficient. For many Filipino families, this could mean more control over their money, quicker access to funds, and greater peace of mind when sending or receiving money across borders.