VisaDirect visa acquirer sponsorship and transfer fees questions

[Veksi]

Hi!

1) We are an ISV and we have certain kinds of cross-border lending arrangements in mind (we're happy to elaborate privately if needed). Reading VisaDirect documentation we understand the text so that we need to have a licensed Visa acquirer to sponsor our application. If so, does it matter for Visa is all the entities are from different jurisdictions? From Visa perspective, does this just mean we do what we need to get this sponsor?

2) What kind of fees should one expect when using VisaDirect?

[API_Products]

Hi @Veksi,

Please review the Visa Direct documentation using this link. https://developer.visa.com/capabilities/visa_direct/docs

In particular, see the top few paragraphs that are shaded in yellow that discuss the requirements to use Visa Direct.

After having read the documentation, if you meet those requirements, then please click through the link in those paragraphs to the Visa Direct Program Implementation Questionnaire, fill it out, and submit to the email address listed on that form. 

[Veksi]

Indeed I did, but I'm not still sure if:
- From Visa perspective it matters the sponsor is from a jurisdiction different than our company?

- From Visa perspective should we acquire this sponsor? Or could Visa lend a hand? Namely I'm looking at the questionaire which asks if there's and existing sponsor. I.e. it's not really clear what's the purpose of this questionaire. Should I fill it all in now in the very beginning and get feedback? Additional question, the questionaire should be sent to our Visa account representative. How to know who this is?

- What sort of fees are there? I see fees are mentioned, but I'm not sure what to expect. Maybe this doesn't matter, so let's forget. 🙂

The important thing here is to check location of sponsor.

[Veksi]

I don't know how to edit, so this is to edit
The important thing here is to check location of sponsor. -> The important thing here is to check location of sponsor and the account reprentative.

[API_Products · Accepted solution]

Hi @Veksi,

Please see my inline answers to your questions.

- From Visa perspective it matters the sponsor is from a jurisdiction different than our company?

[Answer] To use Visa Direct, it matters that the originator meets the Visa Direct requirements. The originator is required to be a licensed Visa acquirer or be sponsored by a licensed Visa acquirer who is ready and able to sponsor Visa Direct programs. In order to use the Visa Direct APIs in production, the Originator must either be a Visa client financial institution (issuer or acquirer), a third-party Originator that has been granted a Visa acquirer POS license (geographical restrictions apply), or a third-party Originator that has established an acquiring relationship for that purpose with a Visa client financial institution. 

For production, you should have an existing relationship with a bank of any financial institution. We do not have any preference on the bank of any financial institution that you use. You will have to have a financial institution in with you for the settlement of transaction.

- From Visa perspective should we acquire this sponsor? Or could Visa lend a hand? Namely I'm looking at the questionaire which asks if there's and existing sponsor. I.e. it's not really clear what's the purpose of this questionaire. Should I fill it all in now in the very beginning and get feedback? Additional question, the questionaire should be sent to our Visa account representative. How to know who this is?

[Answer]  To learn more about Visa acquiring please navigate to Visa.com. https://usa.visa.com/run-your-business/accept-visa-payments.html

When contacting a Visa licensed acquirer, make sure to tell them you are looking for a Visa Direct acquirer. That is because not all Visa licensed acquirers are enabled to sponsor Visa Direct programs. You can also discuss with them the location of the sponsor, as well.

The purpose of the questionnaire is that the questionnaire gets submitted to the product team for review and when you submit the questionaire you are confirming that you meet the Visa Direct requirements. After you submit the questionnaire to the email address listed on the form, someone from the Visa Direct team will reach out to you. 

- What sort of fees are there? I see fees are mentioned, but I'm not sure what to expect. Maybe this doesn't matter, so let's forget. 

[Answer] Pricing can be discussed after you submit the Visa Direct Implementation Questionnaire. 

The important thing here is to check location of sponsor.

[jimbakoume]

how do we check location of a sponsor? thanks

[API_Products]

Hey @jimbakoume,

When you access the link you will see a list of Providers, Contact number, and Supported states. Please refer to the supported states column. You can also call the bank and ask them for their location. If you can't find an acquirer, please go to this link (please refer to screenshot below of the table I'm referring to when you access this link) - https://usa.visa.com/run-your-business/accept-visa-payments.html