Al Fardan Exchange integrates with Visa Direct to empower customers with streamlined global funds transfers to bank accounts and mobile wallets.
5th Feb 2025 Dubai, United Arab Emirates: Al Fardan Exchange, a leading UAE-based foreign exchange and global money transfer company, has rolled out its new cross-border remittance service through Visa Direct, in collaboration with Visa, a world leader in digital payments. The innovative solution enables Al Fardan Exchange customers to transfer funds to bank accounts and mobile wallets globally in near real-time, improving the overall flow of payments.
Through Visa’s advanced technology, this partnership ensures customers benefit from transparent rates and that the full amount is credited to the beneficiary, providing an unparalleled remittance experience. Al Fardan Exchange is planning to enable Visa Direct for 30+ countries across the MENA region, Europe, North America, and South-East Asia, with plans to expand its reach to more countries in the future.
Hasan Fardan Al Fardan, CEO at Al Fardan Exchange, said: “We are delighted to integrate Visa Direct into our services, marking a significant step forward in our journey toward digital transformation. At Al Fardan Exchange, our unwavering commitment towards customer-centricity drives us to deliver faster, more secure, and fully transparent global money transfer solutions. By expanding this service to over 30 countries, we are creating stronger financial connections and empowering our customers with greater convenience and flexibility in today’s digital-first world.”
Salima Gutieva, Visa’s VP and Country Manager for the UAE, said: “With the UAE being among the largest source markets of remittances globally, Visa strives to bring digital-first solutions for a more seamless, secure and efficient international money movement experience to the UAE’s digitally savvy consumers. Visa Direct offers Al Fardan Exchange customers access to billions of Visa cards, bank accounts and mobile wallets worldwide and the backing of our trusted global network, VisaNet, for fast and secure transfers. We are delighted to partner with Al Fardan Exchange to launch Visa Direct for international remittances from UAE.”
Visa’s recent Money Travels: 2024 Digital Remittances Adoption study revealed the majority UAE consumers surveyed are turning to digital apps to remit funds internationally. According to the same study, digital apps remain the most popular method for both sending and receiving remittances in the UAE, with ease of use, privacy, and security cited as among the top benefits. Seventy percent of UAE respondents plan to send the same or more money abroad, indicating a positive outlook for future remittances from the country.
Al Fardan Exchange customers now benefit from Visa Direct as an alternative, convenient option for transferring money. They can choose the best transfer method tailored to their specific needs, ensuring greater flexibility and convenience.
Al Fardan Exchange currently operates a robust network of over 90 branches, supported by a team of skilled professionals committed to providing fast, reliable, and efficient services at highly competitive rates to millions of customers.
