Page 26 - AAE PR REPORT - December 2024

12/5/24, 4:01 PM Al Ansari Exchange and Visa collaborate to launch “Visa Direct” f
Al Ansari Exchange and Visa collaborate to launch “Visa

Direct” for global money transfers

Wednesday, December 4, 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."

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