SentBe Implements Visa Direct’s Card Transfer Service, a First Among Korean Fintech Companies

[Image Provided By SentBe]

Seoul, South Korea – October 30, 2024 – SentBe, a global FX total solutions provider in Korea, partnered with Visa, a trusted world leader in digital payment technology, and implemented Visa Direct’s card transfer service, which allows for real-time overseas payment through Visa’s global payment network. SentBe is the first in the Korean fintech industry to implement Visa Direct card transfer service.

SentBe offers its customers the option of using a Visa card for receiving money, providing a simple, secure, and real-time transfer experience at a cost 90% cheaper than traditional banks, thereby maximizing convenience.

Through the partnership with Visa, the newly introduced Visa Direct’s card transfer service allows money to be transferred to a recipient’s account linked to their Visa card, whether it’s a credit, debit, or prepaid card, within 30 minutes, by simply entering the recipient’s name and their 16-digit Visa card number. The service is available 365 days a year, supporting real-time, convenient overseas transfers in 40 countries and 26 currencies, including Singapore, China, India, Thailand, Philippines, Spain, France, Germany, United Kingdom, and Australia. SentBe plans to expand the number of recipient countries accessible via Visa card to around 200.

SentBe’s cross-border money transfer service for individuals not only offers bank transfers, cash pick-ups, and mobile wallets, but also includes direct cash delivery to recipients, with options optimized for each country. Now, by offering globally used Visa cards as a new receiving option, SentBe is providing a more innovative and user-friendly transfer experience to its customers. In April, SentBe achieved the highest level of payment card industry data security standard, PCI-DSS v4.0 Level 1, demonstrating its capability to securely manage and protect customer credit card information and payment data.

CEO Alex Seong-Ouk Choi commented, “The implementation of Visa Direct’s card transfer service is part of SentBe’s ongoing efforts to remove all inefficiencies in cross-border foreign exchange transactions, supporting easy and quick international transfers for more people. We will continue to strive for the best transfer services for our customers through continuous service innovation and strengthening global partnerships.”

Patrick Storey, Country Manager of Visa Korea, expressed, “We are very pleased to introduce Visa Direct’s card transfer service which connects the entire world, at SentBe, a promising Korean fintech company. With Visa’s innovative global payment solutions and SentBe’s digital remittance capabilities, we will strive towards continuously providing quick, safe, and convenient real-time global transfer services.”

Founded in 2015 with the mission of creating “A World Without Financial Borders,” SentBe is a global fintech company based in Korea, providing innovative cross-border remittance and payment services with reasonable fees, fast transfer speeds, and simple procedures to both individuals and businesses. In addition to its headquarters in Korea, SentBe has established a corporation in Singapore, the Asian FX financial hub, and has built a unique business infrastructure in line with global standards through extensive global partnerships and FX management capabilities. SentBe is expanding its influence in the global market beyond Korea and Asia through its cross-border money transfer service for individuals ‘SentBe’ and cross-border payment service for businesses ‘SentBiz’.