Visa and digital payment company Dash Solutions have expanded their partnership, allowing customers to make real-time payments and receive funds using eligible cards, bank accounts, and digital wallets. This initiative aims to leverage Visa Direct's capability for real-time payments, enhancing how businesses and consumers manage their funds.

Real-Time Payments

According to reports, this collaboration targets multiple industries including healthcare and insurance, aiming to streamline payment processes. With Visa Direct, healthcare providers can achieve near real-time digital payments under the new service.

Stephen Faust, CEO of Dash Solutions, stated, "This partnership means businesses can customize solutions to their specific needs, ensuring each payment is as efficient and user-friendly as possible."

Moreover, transitioning from paper checks to digital payments has significantly reduced costs for healthcare providers. By eliminating paper and optimizing payment flows, institutions can lower operational costs while enhancing overall customer payment experiences, demonstrating how real-time payments streamline processes and improve efficiency.

This partnership builds on Dash Solutions' recent acquisition of KyckGlobal, integrating direct connections to major payment networks including Visa Direct into the Dash Solutions platform. This integration aims to eliminate the need for additional third-party processors, providing cost savings and improved operations for clients.

Major Payment Networks Integration

According to official statements, Dash Solutions processed over $50 billion in total payments in 2023, doubling its payment division and increasing staff by 20%. The company serves as a payment platform offering digital payment solutions and interactive project management tools for clients.

Meanwhile, Visa and Mastercard face legal disputes in the UK, with a London court recently approving merchant lawsuits alleging excessive charges against both companies. The Competition Appeal Tribunal ruled that collective lawsuits against Visa and Mastercard can proceed.

Previously, these payment giants have been involved in multiple lawsuits in the UK concerning interchange fees, which retailers must pay when customers use their cards.