Visa Direct Agreement

A PTOM can be funded from a wide range of sources; z.B a network payment account or bank account. In addition to PTOTs, Visa Direct also supports the AFT (Account Funding Transaction), a visa network operation that allows funds to be withdrawn from an eligible Visa account. As with OCT, Visa Direct Originators can send AFT transactions either as an ISO message or directly via an API call to cash transfer APIs. In addition, Visa Alias Directory Service introduces a new feature called Alias Lookup API. The lookup API allows Visa`s directory service to search for an alias in a third-party directory and return the associated payment instrument. The lookup API sends an alias and data associated with the third-party directory. The data returned in the API response is the payment instrument associated with the alias. For more information about the lookup API, visit the third-party directory service in the API Reference section. Visa Direct offers initiators (eligible financial institutions and third parties such as payment service providers, merchants, businesses and other payment service providers) the ability to connect to visas, access information and transfer payments directly to Visa cards.

A push payment is a financial transaction that adds funds (in the form of a credit) to a given Visa account. As the initiator, Visa Direct APIs offer you the opportunity to initiate a push payment via your own web, mobile devices, ATM systems, companies or branch platforms. Push payments enable many consumer and business-focused applications, including money transfers from person to person, as well as payments from businesses, government and business payments. The best way to start with Visa Direct is to understand how it works and what role Visa Direct APIs play in allowing initiators to move funds between Visa accounts. Visa Direct provides initiators (eligible financial institutions and third parties such as payment service providers, merchants, businesses, financial technology companies and service providers) with a mechanism to transfer payments directly to Visa card accounts through their respective financial institutions. This push payment capability is provided by the use of the Original Credit Transaction (OCT), a Visa network operation that allows eligible Visa cards to obtain push payment credits. Visa Direct Originators can send OCT either as ISO formatted messages via a visa endpoint connection or directly to the Visa network as an API call via cash transfer APIs. Initiators can use this transaction and the underlying framework of rules and controls to create new consumer and business-oriented services. Payment is made online. Funds are ready for purchase on the recipient`s website in general within 3 days according to management: Visa Direct is a network that allows security, convenience, real time1 moneyBuy directly on financial accounts with card information

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