Visa and Obopay partner for near real time electronic disbursements to Visa prepaid cards

Near real time disbursement capabilities

The partnership will enable Obopay’s partners to disburse funds from their corporate account onto a Visa prepaid card which they can provide to payees (view press release). The solution is designed for industries with bulk payment needs such as insurance, payroll, rebates, incentives, business expenses and government disbursements. By incorporating the Visa prepaid card, the service enables the almost instant transfer of funds to any consumer, banked or unbanked, and provides access to funds anywhere Visa debit cards are accepted. The service is particularly beneficial to the unbanked and underbanked as it eliminates the time delay and expenses incurred with cashing checks.

By introducing a Visa prepaid card solution, Obopay offers near real time disbursement capabilities that allow our customers to avoid the time delay of issuing cash or check,” said David Schwartz, vice president of product and corporate marketing for Obopay. “Adding Visa prepaid cards to Obopay Disbursements enables our partners to send funds to any consumer in the US at dramatically lower costs compared to issuing checks.”

The new service is available immediately via Obopay Disbursements.

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