Money in 2025: It’s all about real-time payments

(BPT) – Remember when digital payment transactions used to take three to five business days? Even transferring funds between accounts seemingly took forever. And, if you were splitting the bill with someone at a restaurant, there was nothing fast about it. You’d give them a check … and then it would take three to five days to clear. It seems so antiquated now. In today’s digital world, that kind of time lag simply isn’t acceptable to many people.According to a survey by PYMNTS Intelligence, nearly three-quarters of surveyed consumers want their disbursements paid to them instantly, but only one-third receive them that way. That’s one reason Visa is making funds transferred to U.S. bank accounts with Visa Direct available in 1 minute or less starting in April 2025.Visa Direct is Visa’s global solution for real-time money movement, which provides innovative ways to enable businesses, service providers and consumers to send funds to bank accounts using eligible debit cards. Visa Direct reaches 99% of bank accounts in the U.S.[1].”This change underscores Visa’s commitment to accelerating real-time payments in the U.S.,” said Jim Filice, VP, Head of Domestic Real-time Payments, Visa Direct. “At Visa, we are constantly striving to innovate and provide the best possible money movement experiences, and this update will significantly enhance speed and convenience, while maintaining strong security standards.”Visa Direct supports multiple use cases such as person-to-person payments and account-to-account transfers, business and government payouts to individuals or small businesses, merchant settlements and refunds[2]. But what does near real-time payments really mean for end users? Here are the top three benefits.Speed and ConvenienceWith funds available in someone’s bank account in a minute or less, U.S. cardholders can access their funds in their bank account almost immediately, without having to wait. So, if you foot the bill in a restaurant and your companion sends you a digital payment to cover their share, you’ll have those funds available to take an Uber home.Going hand-in-hand with speed, the convenience of being able to make and receive faster payments is a huge win for individuals and businesses alike. A waiting period, even if it’s just an hour, seems like a burden now, doesn’t it? We all need the convenience of having our funds available in our bank account quickly.SecurityHave you ever wondered about the security of sending digital payments through a third-party app powered by fintech? Ever had a moment of trepidation when attaching your bank account information to something with no brick-and-mortar?Visa Direct is built on Visa Net, which has been operating and advancing for more than 60 years, with proven value-added services that address the needs of new risk[3] and security concerns that have come up as a result of moving money in real time. With security a top priority, Visa has saved consumers and merchants billions by proactively disrupting fraud and working with government partners, including the intelligence community and law enforcement.Accessibility and Inclusion According to the FDIC, 5.6 million households in the U.S. are “unbanked,” meaning, people don’t have a bank account. Expanding financial access for consumers and small businesses is pivotal nowadays, and banks are under pressure to quickly implement and launch programs for their customers that stay ahead of their expectations.Digital wallets are the fastest-growing payment method in the U.S., providing a fast, secure and convenient tool for sending and receiving funds — bank account not required.Visa works with enablement partners to help expand financial access for individuals, opening the potential for greater financial inclusion and enabling underserved populations the opportunity to access financial products that impact how they live and work.In addition to enhancing the cardholder’s experience, this new mandate from Visa Direct helps opens new avenues for businesses and governments to grow and thrive. Whether it’s disbursing government benefits, processing healthcare payments, or handling tips in the service industry, the improved reliability of faster funds empowers businesses and governments to operate in real-time more effectively.Visa Direct is helping to transform money movement, whether it’s around the corner or around the world. It’s enabling a new wave of financial freedom, today. To find out more, visit usa.visa.com/products/visa-direct.html.[1] Actual fund availability depends on U.S. receiving financial institution and region.[2] Use cases are for illustrative purposes only. Program providers are responsible for their programs and compliance with any applicable laws and regulations.[3] Visa Direct clients and participants are solely responsible for their own compliance with applicable laws and regulations. Optional compliance controls and risk management tools and services are provided solely for the convenience of sending acquirers, service providers, merchants, and recipient issuers/the Visa Direct clients and participants and Visa makes no warranties with respect to them or their results.