Collection Pot, powered by Cashflows, can now distribute real-time funds to cards through Visa Direct
Cashflows and Collection Pot have launched the first digital group collecting solution in Europe via Visa Direct, making real-time, funds disbursement convenient and secure.
Whether it’s a birthday, wedding, new arrival, charity or community event, Collection Pot makes group collecting simple and fun. Creating a digital Collection Pot is quick and free. And it’s even quicker to share the link with family, friends and colleagues.
Donations can be added from anywhere at any time. And now there’s a new way for beneficiaries to receive funds collected on their behalf. In addition to gift cards and e-codes, beneficiaries can also receive funds directly into their bank account in real-time, thanks to Visa Direct.
Visa Direct send funds straight to a VISA card, and because it runs on the Visa network, Visa Direct is safe and secure. It also offers convenient global reach to a billion Visa cards worldwide.
“Collection Pot is among the first group collecting solution to adopt pay-outs via Visa Direct. At a time when families and friends are social distancing, colleagues working remotely and charities and community organisations are needed more than ever, being able to quickly send funds really adds value to our users,” said Wendy Carter, CEO and founder, Collection Pot.
Amanda Mesler, CEO at Cashflows, said: “As a result of the Coronavirus, many more people have become reliant on digital payments. We’re pleased to partner with Collection Pot to be at the forefront of making remote, digital group collecting a reality for both collectors and recipients worldwide.”
Remote, digital group collecting is just one user case for real-time funds disbursement via Visa Direct. Others include person-to-person, contractor or gig economy worker payments, insurance pay-outs (e.g. fire, flood, cancelled flight, lost luggage), loan distributions and tax refunds.
Existing Cashflows customers can access Visa Direct through the Cashflows Payments API.
To learn more about Visa Direct, please contact email@example.com.