Visa has launched a service to help customers navigate the $200 trillion money movement sector.

The payments giant’s Money Movement Advisory Practice – announced on Tuesday (August 27) for customers in the US and Canada – is a value-added service of Visa Consulting & Analytics (VCA), Visa’s payment services advisory arm.

“Visa’s Money Movement Advisory Practice is a strategic response to the increasing demand for frictionless payments and mobile experiences,” the company said in a press release. “‘Money movement,’ which encompasses multiple ways to facilitate the transfer of money across different platforms and channels, has emerged as a common area of ​​client inquiries.”

According to the press release, Visa’s Money Movement solutions, including the Visa Direct network, support secure, real-time transactions for small and high-value payments and help customers reach up to 8.5 billion endpoints in more than 190 countries and territories in 160 currencies, resulting in a more innovative financial ecosystem.

“Customers are actively seeking effective strategies to meet the increasing demand for fast and reliable payments,” said Kate Manfred, Visa’s North America head of advisory services. “Visa can be their strategic partner, offering innovative money transfer solutions that create new sources of growth and customer loyalty.”

The new practice leverages VCA’s network of more than 1,300 consultants, data scientists, technology developers and product designers in 75 offices around the world to help clients with their key money movement priorities, such as defining strategy and optimizing the user experience, Visa said.

Visa last month partnered with banking software company Temenos to offer banks the Visa Direct money transfer solution.

“By combining the capabilities of Visa Direct with our flexible Payments Hub and integrated account services, we enable banks to easily activate a new distribution option and offer their customers seamless and secure international payment experiences,” Mick FennellBusiness Line Director – Payments at Temenos, said in a press release.

Visa’s efforts through Visa Direct have led to progress in promoting the connectivity needed for instant payments, said Ruben Salazar, then senior vice president and global head of Visa Direct, in an interview with PYMNTS’ Karen Webster late last year.

The payments network and its partners have developed aliases and directories that, by connecting to email or mobile devices, provide instant access to sender and recipient bank accounts – even nicknames.

“The alias is associated with multiple payment functions or credentials and … connects one network to another network to enable (faster) transactions,” Salazar said.