SentBe, a Korean global FX total solutions provider, partnered with Visa to implement Visa Direct’s card transfer service, which allows for real-time overseas payment through Visa’s global payment network. SentBe is the first in the Korean fintech industry to implement a Visa Direct card transfer service.
SentBe offers its customers the option of using a Visa card for receiving money, providing a real-time transfer experience at a cost 90% cheaper than traditional banks, thereby maximizing convenience.
Through the partnership with Visa, the newly introduced Visa Direct’s card transfer service allows money to be transferred to a recipient’s account linked to their Visa card, whether it’s a credit, debit, or prepaid card. That should occur within 30 minutes by entering the recipient’s name and their 16-digit Visa card number.
The service is available 365 days a year, supporting real-time overseas transfers in 40 countries and 26 currencies, including Singapore, China, India, Thailand, Philippines, Spain, France, Germany, the United Kingdom, and Australia. SentBe plans to expand the number of recipient countries accessible via Visa card to around 200.
SentBe’s cross-border money transfer service for individuals offers bank transfers, cash pick-ups, mobile wallets and direct cash delivery to recipients, with options optimized for each country.
In April, SentBe achieved the highest level of payment card industry data security standard, PCI-DSS v4.0 Level 1.
“The implementation of Visa Direct’s card transfer service is part of (our) ongoing efforts to remove all inefficiencies in cross-border foreign exchange transactions, supporting easy and quick international transfers for more people,” CEO Alex Seong-Ouk Choi said. “We will continue to strive for the best transfer services for our customers through continuous service innovation and strengthening global partnerships.”
“We are very pleased to introduce Visa Direct’s card transfer service, which connects the entire world, at SentBe, a promising Korean fintech company,” Patrick Storey, country manager of Visa Korea, added. “With Visa’s innovative global payment solutions and (their) digital remittance capabilities, we will strive towards continuously providing quick, safe, and convenient real-time global transfer services.”
In addition to its headquarters in Korea, SentBe has established a corporation in Singapore, the Asian FX financial hub. The company is expanding its influence in the global market beyond Korea and Asia through its cross-border money transfer service for individuals, SentBe, and cross-border payment service for businesses, SentBiz.
