Insurance, News

Real-time with Visa Direct

Vitesse to deliver real-time insurance claim reimbursements with Visa Direct

Today, Vitesse announce that it will be bringing Visa’s real-timei push payment platform – Visa Direct – to the London Insurance market. With Visa Direct, insurance firms can quickly push disbursements directly to an individual’s or business’ bank account using their debit card for real-timeii access. The ability to receive funds quickly after making a claim is a critical moment in the customer lifecycle and so the speed and delivery of funds matters here more than ever.

Vitesse’s central position in the London market offering a global loss fund management, payment and reporting solution plus the reach and reliability of Visa Direct make this an ideal fit in the insurance claims disbursement process. Vitesse is bringing Visa Direct to the London market through its acquirer.

David Josephs,
Head of Visa Direct in Europe, said:

“Insurance payouts represent a great use case for Visa Direct, providing more efficiency for insurers and improving the claims process for beneficiaries. With Visa’s global reach and reliability, it is uniquely positioned to help bring efficiencies to the insurance market and provide a smoother experience for people when they need it most.”

“We are immensely proud of both our trusted position in the London market and our ability to implement Visa’s latest payment innovations – we continue to drive down the time it takes to pay claimants whilst improving the experience for all involved.”

Phillip McGriskin,
Chief Executive Officer, Vitesse

iActual fund availability varies by financial institution and region. Visa requires fast-funds enabled issuers to make funds available to their recipient cardholders within a maximum of 30 minutes of approving the transaction. Please refer to your Visa representative and the Visa Direct Original Credit Transaction Global Implementation Guide for more information.

ii See above

If you would like to understand how Vitesse can benefit your payment flow please fill out the form below and one of our team will get in contact with you.

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