Visa has introduced new capabilities across its Visa Accept and Visa Direct platforms, allowing small businesses to use smartphones to both accept and send digital payments. The company said the updates are designed to help merchants in emerging markets, from street vendors to online sellers, manage payments without additional hardware.
Visa Accept turns a smartphone into a payment terminal, enabling eligible businesses to accept card payments through their Visa debit or prepaid accounts using tap-to-pay or payment links. Funds can be received in near real time, while customers continue to benefit from Visa's security and dispute protection features. Visa expects the solution to reach millions of merchants globally by 2027.
The company also expanded Visa Direct, its real-time money movement platform, allowing businesses to use smartphones to send payments to employees, contractors and suppliers, issue customer refunds, and transfer funds across borders to eligible cards, bank accounts and digital wallets.
According to Visa's Global SMB Macro Trends Report, 99% of surveyed small businesses use at least one digital finance tool, while 85% say these tools have benefited their business. Visa says the new services aim to simplify payment management and improve access to digital financial services for small businesses worldwide.
