Payments platform WorldPay has expanded the reach of its real-time payout service FastAccess to more than 50 countries across Europe and Asia.
The service enables card-based payouts within 30 minutes.
The service will now be integrated with Worldpay Bankout solution, which currently operates in 154 jurisdictions.
Through the service, customers can receive funds or refunds via card almost in real-time, through mobile wallet or directly to a local bank account.
The payout solutions, WorldPay said, will benefit multiple industries such as travel and tourism, gaming businesses, and insurance firms.
Worldpay executive vice president and head of global enterprise ecommerce Shane Happach said: “As more and more companies send payments at lower values, cross-border, it will become a competitive differentiator to send quicker payouts to consumers and inexpensive disbursements to vendors and suppliers.
“It is estimated that by 2025, the sharing economy will generate Europe-wide revenues worth over €80bn and facilitate nearly €570bn of transactions. At the heart are seamless, transparent, secure payouts, which can be made via card, mobile wallet or bank transfer in any currency, anywhere in the world.”