Key insights
- RemitBee's partnership with Visa Direct to facilitate real-time cross-border payments signals continued innovation and competition in the global payments space. While the direct impact on US equities is limited, it reinforces Visa's dominant position and growth prospects in digital payments, potentially contributing to positive investor sentiment towards V.
TORONTO - RemitBee Inc., a Canadian fintech platform, announced Wednesday a collaboration with Visa Canada to enable real-time cross-border payments through Visa Direct.
The partnership allows RemitBee users to send money directly to eligible bank accounts, digital wallets and Visa cards worldwide, according to a press release statement. RemitBee operates across 190 countries, 150 currencies and 200 payment systems.
Founded in 2015, RemitBee serves more than 350,000 users and provides international money transfers, currency exchange and other financial services. The Toronto-based company was established to address cross-border payment challenges faced by immigrants in Canada.
Statistics Canada data shows Canadians sent $26.7 billion CAD in remittances abroad in 2025. The collaboration aims to serve Canada’s immigrant community, which represents a significant portion of cross-border money transfers.
Through the partnership, RemitBee will function as a centralized payment infrastructure hub, providing credit unions, regional remittance operators and financial partners access to its network. Visa Direct will enable faster fund delivery and expand reach into markets that have been difficult to access.
"We built RemitBee as immigrants who understood firsthand what it means to send money home," said Manos Yoganathan, COO and Co-Founder of RemitBee. "What began as a mission to make cross-border payments simpler has grown into one of Canada’s largest payments platforms."
Sam Fuda, Head of Commercial Money Movement Solutions at Visa Canada, said the collaboration supports financial inclusion and connects families across borders.
Visa (NYSE:V) operates in more than 200 countries and territories, facilitating transactions between consumers, merchants, financial institutions and government entities. The company describes itself as a leader in digital payments.The payments giant, with a market capitalization of $607 billion, generated $43 billion in revenue over the last twelve months with an exceptional gross profit margin of 98%. According to InvestingPro analysis, Visa currently trades below its Fair Value, suggesting potential upside for investors. The company maintains a "GREAT" financial health score and stands out as a prominent player in the Financial Services industry, according to InvestingPro Tips. These are just 2 of 10 ProTips available, alongside comprehensive Pro Research Reports that transform complex financial data into actionable intelligence for the 1,400+ US stocks covered on the platform.
In other recent news, Visa reported its fiscal Q2 2026 earnings, revealing a strong performance with earnings per share of $3.31, which surpassed the forecasted $3.10. The company also reported revenue of $11.2 billion, exceeding expectations by 4.19%. Visa’s earnings results highlight its robust financial health despite fluctuations in stock prices. Additionally, Visa Canada has launched a stablecoin settlement pilot with Wealthsimple, marking the first such initiative in the Canadian market. This pilot allows Wealthsimple to settle certain obligations using USD Coin (USDC) with Visa Canada. Furthermore, Visa has expanded its Visa Agentic Ready program to Canadian issuers. This program prepares the Canadian payments ecosystem for commerce where AI agents initiate and complete transactions on behalf of consumers. These developments reflect Visa’s ongoing efforts to innovate and expand its services in the financial technology space.
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