Visa's stock rose 2.5% following its announcement of a strategic collaboration with ACE Money Transfer, a global remittance provider.
This partnership aims to improve the speed, security, and efficiency of international money transfers for customers sending funds to friends and family worldwide.
The collaboration will leverage Visa's payment network. It will promote Account Funding Transactions (AFTs). AFTs move funds from a sender's card into a payment provider's system.
The initiative strengthens infrastructure for card-funded international payments. It also reflects a shared focus on adopting digital solutions for cross-border transactions.