Visa and CIBC announced a new collaboration that will enable the bank’s clients to send funds to family and friends across borders more conveniently.
Thanks to the innovative money movement capabilities of Visa Direct, CIBC and Simplii clients will soon be able to send money to a new range of digital wallets in key remittance destinations including the Philippines, China, Bangladesh, and Kenya, where they are the primary method for people to pay and get paid. The new capability will be made available early this year.
Driven by rapidly changing consumer demands, digital wallets are among the fastest growing financial instruments in the world, with global numbers expected to cross 5.2 billion by 2026. Particularly for unbanked individuals in emerging markets, digital wallets serve as a valuable gateway to the financial system.
This…
Read More