# PAGA Case: Trust Payments Making cross-border transactions seamless for MSMEs with Trust Payments and Visa ### PAGA Case: Trust Payments Making cross-border transactions seamless for MSMEs with Trust Payments and Visa ## Description Trust Payments’ cross-border payments solution, in conjunction with Visa Direct, allows merchants and customers to transact in their native currencies. Visa Direct is a global solution for real-time money movement for individuals between accounts linked to eligible card credentials and between friends and family domestically and globally. The solution provides MSMEs with secure payment experiences leveraging Visa’s cybersecurity capabilities and its USD 10 billion investment over the past five years in building a more robust and secure ecosystem.Trust Payments’ payments gateway is simple for the user to understand, fast, and safe, with full payments security and two-factor authentication, ensuring that when consumers pay, they are protected. Every transaction processed through our gateway is safeguarded through Secure Sockets Layer (SSL) protection and real-time fraud protection. When our system identifies a fraudulent transaction, the associated card is automatically blacklisted across our entire merchant network, preventing repeat fraud attempts and protecting our merchants' fraud ratios and reputation. This process is completely unique to the industry and is due to the high level of research and development that has been dedicated to security within the Trust Payments ecosystem.Furthermore, merchants have access to 21 settlement currencies, while Trust Payments’ flexibility on complex company structures is perfect for the remittance industry, where a large portion of firms are based offshore. Daily settlements allow merchants to keep a healthy flow, as merchants have many deposits and withdrawals (OCT Payouts) on a day-to-day basis. This allows for clear record keeping and a more complete understanding of business performance.Trust Payments—enabled by Visa Direct—helps businesses move money with the speed and convenience that matches our modern life. MSMEs can make real-time payouts to billions of cardholders who can use their card credentials to receive funds directly to their bank or eligible card accounts—and all it takes is a single connection to Visa’s trusted, global network. Key Benefits MSMEs can receive deposits faster High first-time deposit conversion rates with easy debit card usage Enables recurring account load transfers Faster fund availability through real-time card validation, authorization, and guaranteed settlement Seamless end-to-end digital experience Improved consumer engagement and customer experience ### Territory Global ### Year of introduction Trust Payments has worked with Visa since 2019 as a principal member ### Participants Trust Payments Ltd and Visa, financial services institutions ### Potential impact Trust Payments’ solution, powered by Visa Direct, now supports over 50 countries with alternative payment methods, offering over 130 currency processing options as standard. The result of this has been more than 3.4 million transactions processed since 2019, with continuing year-on-year growth. ## Best practices and lessons learned Enabling a single connection to MSMEs facilitates money movement across borders while providing a better payout experience: Customers of MSMEs can send funds across borders to friends and family in other countries and currencies—without hops across multiple payment networks. Foreign exchange investors can receive their profits in seconds, instead of waiting on traditional bank transfers. Participants in clinical trials or even videogame players can now receive their payments in real time. Free from paper checks and postage delays. Key learnings It is important that any solution allows merchants and customers to transact in their native currencies. The result of this is reductions in the discouraging effect that transaction fees can have, as well as the provision of a familiar unit of currency to users. Both factors have worked to boost consumer confidence, which in turn has helped drive sales for merchants. Payments gateways must be simple for the user to understand, fast, and safe, with full payments security and two-factor authentication ensuring that when consumers pay, they are protected. Ease of use and a clear user interface is vital to the payment process, and most of all, the customer. Offering daily settlements allows merchants to keep a healthy flow, as merchants have many deposits and withdrawals on a day-to-day basis. Accurate reporting via advanced online hubs is essential to allow MSMEs to view and manage transactions. From here, they can track sales by country, as well as view approval ratios and settlement times, to ensure that customers are satisfied with the service in their own currency – all of this will determine the effectiveness of the payment process. Breaking this down into more detailed reporting into each processing country also allows MSMEs to identify weak processing countries, see a breakdown of the reasons that individual transactions are declined, and view overall transaction volumes. ## Public materials Trust Payments launches real time pay out solutionVisa Direct | Money movement solutions | VisaVisa Direct | Helping consumers move money securely | VisaVisa Direct for SMBsHow companies, banks, fintech’s, governments can use Visa DirectVisa Direct Cross BoarderVisa Direct Payouts ## Submitters Steve GrechCEO, EMEA David FarrugiaCountry Manager, Visa Malta DisclaimerThe information and examples presented herein are provided for informational purposes only and do not represent the official position or views of the World Economic Forum or the IDB Lab. The World Economic Forum and the IDB Lab do not endorse, recommend, or advocate for the implementation of any specific practices, policies, or approaches described. Rather, this content simply showcases examples and perspectives shared by members of our PAGA Community.