Visa prepares for 2025 launch of Visa A2A in UK
Visa is preparing for a 2025 launch of account-to-account (A2A) payments in the UK to provide consumers with “more control and protection on how they pay via bank transfers”.
Visa to launch Visa A2A in UK in 2025
To operate as an open system, Visa A2A will leverage the network’s infrastructure and technology to deliver an upgrade to existing pay-by-bank processes.
This will include the introduction of a formal dispute resolution process, wider choice when paying directly from a bank account, and easier-to-manage payment permissions with set limit amounts.
Visa has designed these enhancements in collaboration with UK fintechs Banked, Modulr, Moneyhub, Salt Edge, Vyne and Yaspa, and achieves near real-time settlement through Pay.UK’s Faster Payment System.
Visa A2A will be available for banks and businesses in the UK “from early next year”, with Visa confirming how future developments will “support consumers in better managing subscriptions of products and services including digital streaming, gym memberships and food boxes”.
Mandy Lamb, managing director of Visa UK and Ireland, explains that despite their popularity, bank payments “have remained largely unchanged since the inception of direct debit 60 years ago”.
“We want to bring pay-by-bank methods into the 21st century and give consumers choice, peace of mind and a digital experience they know and love,” she continues.
“Visa A2A will ensure consumer-to-business bank transfer payments have similar levels of protection that consumers are used to when they use their cards.”
