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The Visa Ready for Government Disbursements program facilitates effective and secure digital G2C payments via collaboration with specialist partners, such as Episode Six. The cards will be rolled out in both physical and digital forms and available in a number of colours to avoid discrimination.
Finally, Newkirk explained that Visa Direct will spearhead Visa’s drive for better domestic and cross-border money movement, empowering all payment flows including P2P, B2B, G2C and B2C, and putting the power of money movement in its clients’ hands.
The 2020 State of Disbursements: APAC Outlook Report by Rapyd has revealed the existing and preferred methods for getting paid across several transaction scenarios such as& P2P, B2C, B2B, and G2C.
Through the project, the bank has digitized retail payments and payments for government to citizen (G2C) services. In other news, India’s private sector YES BANK has rolled out a cashless payment system for Smart City Udaipur through a partnership with the Udaipur Municipal Corporation (UMC), News Barons reported.
In addition, Visa is becoming the rails for government-to-consumer transactions (G2C) and business to business (B2B) transactions. said its moving beyond face-to-face transactions by becoming the rails to eCommerce, mCommerce transactions and peer-to-peer (P2P) transactions.
McInerney also pointed to government to consumer (G2C), which is a “more nascent” market, with presence in government benefits and tax refunds. B2C, he noted, is $30 trillion, with opportunities in insurance payouts, on-demand payroll, and gig economy payroll and spending.
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