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Investing.com -- Shares of Webull (Nasdaq:BULL) climbed as much as 6% today after the online investment platform announced a collaboration with Visa (NYSE:V), enabling real-time money movement for its users in the United States.
The partnership integrates Visa Direct into Webull’s platform, offering a significant upgrade to how users can transfer funds to and from their investment accounts. Visa Direct will allow Webull customers to deposit and access funds in less than a minute, a stark contrast to the several days it often takes using traditional methods like Automated Clearing House (ACH) transfers.
Webull’s Group President and US CEO, Anthony Denier, commented on the collaboration, emphasizing the company’s dedication to enhancing financial market access. "We are proud to work with Visa and its expansive network to enhance opportunities within financial markets," Denier said. He highlighted the potential of the new feature to integrate technology with traditional financial services, aiming to better serve their customers.
Yanilsa Gonzalez-Ore, SVP, North America Head at Visa Direct, addressed the common delays in fund transfers, noting that, "With Visa Direct, Webull can give their customers the speed, flexibility and protection they want with real-time payments[1], and deliver a simple, digitized experience to securely manage their funds, so they can confidently invest and trade."
The collaboration is seen as a strategic move to improve customer experience by leveraging Visa’s vast network and real-time payment capabilities. This move is expected to enhance Webull’s competitive edge in the fintech space by offering a more efficient way for users to engage with financial markets.
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