Insurance Leaders and Visa Digitize Claims Payouts for Individuals and Businesses When They Need It Most
13.9.2019 17:37:00 EEST | Business Wire | Press release
Emergencies like car collisions or natural disasters come when people least expect them, leaving individuals unprepared to complete insurance forms, confirm claim estimates, and pay repair shop and medical expenses. During these times, quick access to funds is critical. Visa is committed to working with innovative companies in the insurance industry to help turn outdated and time-consuming processes associated with insurance claim payouts into near real-time1 access to payments when individuals, families and businesses need them the most.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190913005323/en/
Visa Direct powers real-time insurance payouts, providing people access to their funds when they need it most. (Graphic: Business Wire)
“Visa believes that money shouldn’t be a stressor in moments of crisis and waiting on average six to 10 days to access the money from insurance checks, is outdated, frustrating and costly to those in need,” said Bill Sheley, SVP and Global Head of Visa Direct, Visa. “Being such a globally trusted brand, Visa knows trust is the underpinning of the insurance industry. Visa, through Visa Direct and its innovative partners and clients, is uniquely positioned to help bring efficiencies to the payout process and provide a smoother experience for people when they need it the most.”
Visa is working to help enable real-time funds disbursements for insurance companies in partnership with their financial institutions, and their customers. By deploying insurance payouts powered by Visa Direct, Visa’s real-time push payments platform, PNC Bank and Erie Insurance customers can now choose to have an electronic claims payment delivered to their bank account in real-time. Visa is also working with InsurPAY by Invenger Technologies to help enable real-time funds disbursements for American Family.
Globally, payment services partners like SafeCharge with innovators like Setoo, and Peoples Payment Solutions with TELUS Health, are working together to use Visa Direct to make insurance payouts quickly and easily.
In the event of an auto accident, people may not be able to wait to receive checks from their insurance company as it could take days, even weeks, before funds become available. With Visa Direct, Visa clients and partners can enable insurance firms to quickly push disbursements directly to an individual’s or business’ bank account using their debit card for real time access.
Partner Quotes:
“With consumers having a myriad of digital options to pay their friends, relatives or businesses, it only makes sense for PNC to work with our clients to deploy business-to-consumer payment solutions,” said Chris Ward, head of product management for PNC Treasury Management. “These can also replace a paper check and cash with secure and near real-time digital options like we offer within our ePayments platform in conjunction with Visa Direct.”
“Saving time, saving costs, saving efforts: today’s consumers are constantly looking for the best way to streamline operations and boost efficiency,” said Yuval Ziv, CCO at SafeCharge. “At SafeCharge we believe that innovation is a key foundation stone to growth and we are constantly evolving to offer our customers the latest solutions in digital payment services. We are excited to collaborate with Visa in this journey to improve the payment experience.”
“Delivering automated, instant compensation to today's consumers – especially at critical moments in their customer journey – is a must,” said Eyal Gluska, co-founder and co-CEO at Setoo. “This is why we constantly look for the best payment services available to integrate into our insurance-as-a-service platform. Leveraging Visa Direct, together with our valued partner SafeCharge, enables e-businesses offering ancillary insurance products, to deliver their consumers a hassle-free and worry-free experience.”
Visit Visa Direct to learn more about how Visa helps move money faster to those in need, when they need it the most.
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device, for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visa.com/blog and @VisaNews.
1 Actual fund availability varies by financial institution and region. Visa requires fast-funds enabled issuers to make funds available to their recipient cardholders within a maximum of 30 minutes of approving the transaction. Please refer to your Visa representative and the Visa Direct Original Credit Transaction Global Implementation Guide for more information.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190913005323/en/
Contact information
Caylah Novak, Visa Inc.
cnovak@visa.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
euroAtlantic Airways Expands Long-Haul Fleet With a New Airbus A330-300 Aircraft2.9.2026 10:00:00 EEST | Press release
euroAtlantic Airways (“EAA”), a Njord Partners portfolio company and a leading Portuguese aircraft wet-leasing and charter business, is pleased to announce the induction of a new Airbus A330-300 aircraft into its fleet, further strengthening its long-haul widebody capabilities and reinforcing the Company's growth trajectory in the ACMI and charter markets. The Airbus A330-300 is leased from Jackson Square Aviation (JSA). Only 15 years old, the aircraft is configured in a three-class layout of Business, Premium Economy and Economy, accommodating a total of 290 passengers, and features full lie-flat seating in Business Class along with personal in-seat entertainment monitors fitted across the entire cabin. The aircraft, which will be registered as CS-TGI after completing its normal process of approval with authorities, has already completed its delivery journey, departing Kuala Lumpur (KUL) and arriving into Beja, Portugal (BYJ) on 17 August 2026. This aircraft type is known for its effi
Interoperability and Trust Key to AI Commerce: Alipay+ and S&P Global Report2.9.2026 09:33:00 EEST | Press release
A new report by Alipay+, the unified wallet gateway of Ant International, in partnership with S&P Global, reveals a growing "commerce digitalisation gap", with people increasingly expecting seamless mobile payments and intelligent digital assistance, yet friction – from inconsistent payment acceptance to trust in AI – still define their experience. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260901394299/en/ The study, which surveyed 6,000 consumers across nine markets in Asia, Europe and the US on their cross-border spending habits, points to a major shift underway in global commerce — one where e-wallets, AI and interoperable digital ecosystems are becoming foundational to how consumers discover, transact and engage across borders. Key findings: Travel exposes gaps in global commerce infrastructure: More than half of consumers cite uncertainty around merchant acceptance (53%) or lack of access to preferred payment metho
Kontoor Brands Unveils Helly Hansen Growth Strategy and 2030 Financial Targets2.9.2026 09:30:00 EEST | Press release
Kontoor Brands, Inc. (NYSE: KTB) today announced Helly Hansen’s long-term growth strategy and 2030 financial targets, which Kontoor Brands will present at the Helly Hansen® Investor Day later today. The plan is designed to scale Helly Hansen globally while significantly expanding its profitability through 2030. "With 150 years of technical heritage and an authentic right to win globally, Helly Hansen is a brand with tremendous long-term growth potential," said Scott Baxter, Chief Executive Officer and Chairman of the Board of Kontoor Brands. "Strong alignment between our teams has allowed us to integrate quickly and move straight to executing against the opportunity ahead. Our sustained investment in Helly Hansen will be a catalyst for its next phase of growth, and we are confident in our ability to deliver significant value for our consumers, employees and shareholders for years to come." A Focused Growth Strategy: To deliver against these targets, Helly Hansen’s growth is anchored in
Axelspace Announces Partnership with Airbus Defence and Space to Deliver Satellite Imagery to a Broader Market2.9.2026 09:30:00 EEST | Press release
Axelspace Corporation (“Axelspace”), a leading microsatellite company committed to making “Space within Your Reach,” announced today a new agreement with Airbus Defence and Space, a global leader in Earth observation including optical and radar satellite imagery, to provide mid-resolution optical images captured by Axelspace’s Earth observation microsatellites “GRUS.” Under this strategic partnership, we will develop and deliver innovative solutions that meet long-term customer needs for utilizing satellite imagery. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260901360086/en/ GRUS is Axelspace's series of approximately 100 kg-class optical Earth observation microsatellites. GRUS-1 is currently operated as a four-satellite constellation, delivering high-frequency, wide-area imagery. This imagery, together with value-added solutions derived through processing and analysis, supports a broad range of industries, including agr
Vara Receives World-First CE Certification for Autonomous AI in Breast Cancer Screening2.9.2026 09:00:00 EEST | Press release
Vara has received CE certification under the EU Medical Device Regulation (Class IIb) for autonomous triage in organised breast cancer screening – the first breast AI certified anywhere to report screening examinations as normal without radiologist review. In autonomous triage, examinations the system classifies as clearly normal can be reported by AI without a radiologist reading them; every other examination continues to be read by at least one radiologist. This deployment mode is intended for organised population screening, where a shrinking radiologist workforce is straining programmes that still read every mammogram twice. The certification has only been possible because Vara has developed a safety system that supervises the autonomous use of its AI models. "What made this possible is not the AI model alone," said Stefan Bunk, CTO and co-founder of Vara. "It is based on seven years of continuous monitoring of how our AI performs in the real world, on every single case. That experi
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom