Page 17 - AAE PR REPORT - December 2024

Press Release For Distribution in Kuwait

Al Ansari Exchange and Visa collaborate to launch

“Visa Direct” for global money transfers

Kuwait, December 02, 2024: Al Ansari Exchange, the fastest growing remittance and foreign

exchange company boasting 37 branches across Kuwait, has partnered with Visa, a world
leader in digital payments, to facilitate swift, secure and hassle-free global money transfers

through the launch of “Visa Direct”, which includes transfers to cards and accounts.

This collaboration empowers Al Ansari Exchange customers in Kuwait to send funds, through
the Al Ansari Exchange app or one of the branches, directly to more than 4.4 billion Visa cards

in over 200 countries, with instant crediting to the recipient’s card.

Vivek Nair, Country Head of Al Ansari Exchange in Kuwait, said: “We are pleased to

collaborate with Visa, leveraging its expansive global network to offer our customers a secure,
convenient, and hassle-free means of transferring funds to individuals or businesses across over

200 countries. Our partnership with “Visa Direct” allows customers to send funds , through
our app or one of our branches , directly to Visa card beneficiaries in line with our commitment

to enhance service offerings and provide innovative solutions to meet evolving market

demands.”

Mohamed Reyad, Visa’s Country Manager for Kuwait, said: “Our partnership with Al
Ansari Exchange in Kuwait represents a significant opportunity to enhance the remittance

experience for digitally savvy consumers in one of the world's largest outward remittance

markets. With “Visa Direct”, Al Ansari Exchange in Kuwait’s customers will now be able to
transfer funds in real time to Visa cards and accounts worldwide with the backing of our trusted

global network, VisaNet. This launch also aligns with the Kuwait government's innovation
agenda, and we’re delighted to once again support the country's vision for a more digitally

connected future."