Filipino consumers and small businesses will soon have faster access to global cross-border money transfers following a new partnership between Visa and the Bank of the Philippine Islands (BPI).

According to a recent announcement by Visa, the two companies are rolling out Visa Direct to enable real-time push payments across the country.

The initiative allows bank clients to send funds directly to international bank accounts, cards, and digital wallets.

This BPI Visa cross-border integration operates directly through the mobile application of the bank, reducing processing times for overseas transactions.

Joel De Vera, Head of Strategy, Products, and Support for BPI Institutional Banking, stated that the partnership will make transactions more transparent and secure.

The collaboration aims to support both retail consumers and micro, small, and medium enterprises that rely on global payment networks to operate.

Jeffrey Navarro, Visa Philippines Country Manager, noted that the service will expand financial inclusion and connect local businesses to broader international opportunities.

A recent digital remittance report by Visa indicated that 74% of Filipinos prefer sending money globally through digital channels.

The Visa Direct platform currently supports real-time fund transfers to over 12 billion endpoints across more than 195 countries and territories.

Featured image by Visa via LinkedIn.