Temenos, the banking software company, today announced a collaboration with Visa, a world leader in digital payments, to integrate Visa Direct, a Visa money movement solution, with Temenos Payments Hub and make available to banks via Temenos Exchange, the Temenos ecosystem of partner solutions.
The Visa Direct network can help financial institutions move money to billions of endpoints in 190+ markets and 160 currencies with real-time cross-border and domestic payment solutions. Leveraging Visa Direct, banks can facilitate a wide array of use cases for cross-border payments: from person-to-person (P2P) payments, funds disbursements, bill payments to final beneficiaries.
Through the integration of Visa Direct with Temenos Payments Hub, Temenos customers will have the ability to seamlessly incorporate Visa Direct’s payment capabilities and consolidate them with other payment services on the single Temenos platform. This integration will efficiently connect multiple payment sources and channels with various clearing and distribution networks and services.
Built on a flexible cloud-native, API-first architecture, Temenos Payments Hub manages multiple payment clearing rails and services, as well as multiple payment types and schemes. It utilizes smart, intelligent routing and offers the scalability required to meet the demands of a rapidly evolving and expanding payments landscape.