Digital payments services provider Visa has announced a tie-up with Vietnamese banks to offer debit card holders an easier way to receive inbound remittances.

Through Visa Direct, they will receive the funds directly into their accounts in near real-time when using MoneyGram and Remitly services.

“The partnership with MoneyGram, Remitly and our bank partners will provide a fast and reliable channel for Vietnamese people to receive remittances from their loved ones on the other side of the world,” Dang Tuyet Dung, country manager, Visa Vietnam and Laos, said.

The funds received can be used as soon as they come to customers' account.

The service allows customers to send and receive remittances through their Visa debit cards across the world.

From now until 30 September this year, cardholders receiving a remittance to their Visa debit card will also receive a US$5 incentive statement credit.

Viet Nam is one of the 10 largest recipients of remittances with funds arriving from a 5.3-million diaspora living and working in over 130 countries. — VNS