SafeCharge Teams Up With Visa to Provide Insurtech Company Setoo With Insurance Payouts

SafeCharge (AIM: SCH) announced last week it has formed a new partnership with Visa Direct, Visa’s real-time push payments platform, to help provide what it claims to be faster payouts for insurance-as-a-service company, Setoo.

According to SafeCharge, Visa Direct enables businesses to push funds disbursements and remittances to cards within a maximum of 30 minutes of approving the transaction. The result is a secure and convenient experience for customers.

“SafeCharge is focused on making meaningful payment innovation available as fast as possible for businesses to embrace fast commerce transformation. Visa Direct can be used for more efficient payments across a number of use cases, including cross-border payments, insurance disbursements and  contractor payments for gig economy jobs.”

Speaking about the collaboration, David Avgi, CEO of SafeCharge, stated:

“Saving time, saving costs, saving efforts: today’s consumers are constantly looking for the best way to streamline operations and boost efficiency. At SafeCharge we believe that innovation is a key foundation stone to growth. We are constantly evolving to offer our customers the latest solutions in digital payment services. We are excited to collaborate with Visa in this journey to improve the payment experience.”

Eyal Gluska Co-founder & Co-CEO of Setoo, went on to add:

“Nowadays, real-time delivery is a must when we buy goods and services. When it comes to disbursements and movement of money, expectations are exactly the same. We are enabling our customers to deliver a new type of insurance experience, by removing the need for any claims process and providing real-time[3] compensation. Visa Direct fits in perfectly with the quick, smooth disbursement we require.”

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