Visa & PayPal Team Up To Allow Consumers & Small Businesses In Canada To Access Money Faster

Visa and PayPal today launched a feature that allows consumers and small businesses in Canada to instantly access funds. PayPal’s new Instant Transfer, powered by Visa Direct, Visa’s real-time1 push payments solution, moves money from customers’ PayPal accounts to their bank account via their Visa debit cards – providing an experience that offers speed, security and convenience, 24/7/365.

The desire for faster payments is escalating: 60 per cent of consumers report that having funds available more quickly for personal use is a benefit of real-time funds disbursements2. For small businesses, the ability to manage cash flow is critical to their growth and success – 85 per cent of small businesses say they would likely switch to a new merchant acquirer who offered real-time payments3.

Instant Transfer for PayPal consumers is now widely available, and for small businesses it is currently available to an early access group of PayPal customers, with plans to be released across Canada in the coming months. For more information about Visa Direct, visit: https://usa.visa.com/run-your-business/visa-direct.html.

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