Astra announced it is using Visa Direct2 – Visa's real-time3 payments service – to provide fast payments to millions of its end-users who can fund cards, wallets, and other accounts with their eligible debit cards. Astra offers a payments platform that allows developers to quickly and safely add transfer functionality to their existing applications in as little as a week of development time. Built for scale and leveraging automation, the Astra Platform is integrated via API and allows builders to add payment functionality to their applications without the need for handling additional compliance, capital commitments, or operational costs.

The onboarding experience for a new user of a neo-banking or marketplace application is critical and only lasts a few moments. In many cases, funding a new bank account or wallet includes waiting multiple days for an ACH transfer to clear before the associated debit card can be used. With Astra, consumers can fund a new debit card in real-time, easily transferring funds from an existing debit card through Visa Direct.

This technology enables fintech products to help consumers move their funds to the desired account in real-time3, 24 hours a day, 365 days a year. Accelerating funds availability can lead to a smoother consumer onboarding experience, and the ability to start monetizing card transactions faster.