
GiveCard Collaborates with Visa to Modernize Disbursements in the Public Sector
'GiveCard has built a simple and intuitive platform that helps eliminate the cost, time and complexity associated with disbursement of funds' - Rick Malcolm, Head of Visa Government Solutions North America.
Together, the two organizations are helping the public sector transition into the cashless era with infrastructure that enables secure ledger transfers at scale - through prepaid debit cards, as well as GiveCard-powered real-time bank transfers and automated workflows that reduce administrative overhead.
As the federal government accelerates efforts to modernize payments – including a recent executive order to phase out paper checks by September 30, 2025 – agencies are working to deliver digital-first, audit-ready payment systems. The GiveCard–Visa collaboration offers a turnkey solution: a modern infrastructure that fuses GiveCard's advanced disbursement technology with Visa's prepaid debit cards.
'The world is going cashless, and government and nonprofit systems have been working to modernize their payment systems to keep up,' said Lurein Perera, Co-Founder and CEO of GiveCard. 'We built GiveCard to close that gap: offering a platform that empowers public-sector organizations to move money quickly, compliantly, and without requiring a 20-person operations team.'
GiveCard's infrastructure includes high-limit virtual and physical prepaid debit cards, ACH/RTP/FedNow bank transfers, and a full-service cardholder support system through a platform and live interpreter network that operates in 25+ languages. It's all backed by no-code dashboards, APIs, and customizable workflows so agencies can automate disbursement logic, like eligibility checks or attendance triggers, without building from scratch or hiring additional staff.
'GiveCard has built a simple and intuitive platform that helps eliminate the cost, time and complexity associated with disbursement of funds,' said Rick Malcolm, Head of Visa Government Solutions North America. 'Their ability to integrate into government disbursement systems to manage complex and high-volume payments has made them an early success in the public sector, and we look forward to what we can accomplish together for our customers and stakeholders in the government sector.'
GiveCard is purpose-built for disbursement: its infrastructure was designed to move money into people's hands with minimal friction, especially for unbanked or underbanked individuals. With no SSN or ID required, the system supports programs like housing aid, disaster relief, and research incentives while maintaining full anti-money laundering (AML) and Bank Secrecy Act (BSA) compliance.
The new collaboration will enable state and local governments, school districts, and nonprofits to rapidly implement and scale digital disbursement programs with Visa-backed prepaid cards and secure digital rails.
About GiveCard
GiveCard is revolutionizing how organizations move money to people. Our specialized prepaid debit card platform and disbursement management infrastructure make it simple and efficient to launch, scale, and measure the impact of fund distribution initiatives. From nonprofit organizations and government agencies running cash assistance programs to research institutions and school systems, GiveCard enables instant delivery of funds to individuals—no bank account required. Founded in 2018, GiveCard has facilitated the disbursement of millions of dollars to hundreds of thousands of individuals across the U.S. Learn more at www.givecard.com.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Insider
3 hours ago
- Business Insider
UBS, C: Major Banks over $3B Money Laundering Scandal in Singapore
Singapore's financial watchdog, the Monetary Authority of Singapore (MAS), has imposed S$27.5 million ($21.5 million) in penalties on nine financial institutions, including UBS (UBS), Citi (C), and Julius Baer (JBAXY). The firms have been charged with anti-money laundering (AML) control failures linked to the city-state's largest money laundering case. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. The MAS confirmed that these penalties wrap up a two-year review of a money laundering case that became public in August 2023. Authorities in Singapore seized nearly S$3 billion in assets, including cash, real estate, and cryptocurrencies, tied to the scandal. Penalties Imposed Specifically, Credit Suisse's Singapore branch (now part of UBS) got the biggest fine of S$5.8 million. Also, UBS and Citigroup were penalized S$3 million and S$2.6 million, respectively. Further, the firms are currently addressing the deficiencies in AML controls and will be closely watched. Importantly, this is Singapore's second-largest enforcement action, trailing only the S$29.1 million in penalties handed out during the 1MDB scandal. Global Scrutiny Rises Against Financial Firms In 2025, banks are facing stricter scrutiny globally as regulators crack down on money laundering. Further, the European Union and U.S. authorities have tightened rules on who owns assets, how crypto is handled, and the enforcement of sanctions. As a result, banks are using real-time tracking and AI tools to spot suspicious activity more quickly and accurately than before. Which Bank Stock Is Best to Buy Now? Among the above-mentioned banks, UBS and Citi both have a Moderate Buy consensus rating. Analysts see over 9% upside in UBS stock and 4.1% in Citi.
Yahoo
19 hours ago
- Yahoo
BiyaPay's 6th Anniversary Celebration: Driven by Innovation, Steadily Moving Towards the Future of Global Multi-Asset Trading
BiyaPay, the world's leading multi-asset trading wallet, has entered its sixth year since its establishment in 2019. Over the past six years, BiyaPay has adhered to the concept of "user-centered", continuously innovated technology and products, continuously optimized User Experience, steadily expanded its global business scope, and provided users with safe, convenient, and comprehensive wealth management services. SINGAPORE, July 4, 2025 /PRNewswire/ -- BiyaPay is pleased to announce that in the past year, the company has focused on upgrading its core products and innovating its services, with a focus on launching digital currency contract trading functions, successfully implementing the Maker zero-fee policy for spot contract trading, and grandly launching the Swift Card, which supports global online and offline payments. These major breakthroughs have further enriched the product ecosystem and significantly improved users' trading and payment experience. Core achievements of the past year Digital currency contract trading function is fully launched In response to the growing market demand for contract trading, BiyaPay successfully launched a digital currency contract trading service in March 2025, supporting various mainstream digital currency contracts and meeting users' diverse investment strategies. This greatly enriches users' trading choices and helps investors more flexibly grasp the opportunities brought by digital asset fluctuations. Spot contract trading Maker with zero commission, incentivizing market liquidity In order to improve the active level of transactions and market liquidity, BiyaPay has implemented a zero-fee policy for spot contract trading Maker in the past year. This policy effectively reduces users' transaction costs, attracts more liquidity providers to join the platform, creates a better trading environment, and enhances the overall User Experience. Quick Card goes online, opening up new scenarios for digital asset payment In 2024, BiyaPay launched the Swift Card, which supports online and offline payments worldwide. The release of the Swift Card greatly expands the application boundaries of digital assets, allowing users to easily convert digital currency into daily payment methods, enhancing the liquidity and ease of use of assets. Continuously solidify compliance and security fundamentals BiyaPay always attaches great importance to compliance operations and user fund security, maintaining the validity of multiple international compliance licenses such as New Zealand FSP, US RIA, and Canadian MSB. The company strictly implements Anti Money Laundering (AML) and Customer Identification (KYC) policies, equipped with advanced risk management systems to ensure a transparent, secure, and trustworthy trading platform for users. Business development data is impressive As of June 2025, BiyaPay supports real-time exchange of more than 30 legal currencies and more than 200 digital currencies. The daily average trading volume of US and Hong Kong SAR stocks has exceeded 15 million US dollars, and the cumulative transaction volume of cross-border remittances has exceeded 2 billion US dollars. Users cover many important markets around the world, and the number of active users has increased by more than 60% year-on-year, reflecting BiyaPay's sustained competitiveness and brand influence in the global multi-asset trading field. Future Outlook: Diversification, Intelligence, Globalization Looking ahead to 2025 and beyond, BiyaPay will focus on the following development directions: Security tokenization BiyaPay will rely on blockchain technology to promote the on-chain innovation of traditional financial assets. By converting high-value assets such as stocks and bonds into compliance digital tokens, it achieves fragmented transactions and 24/7 settlement. Based on existing global compliance licenses (US RIA, Canadian MSB, etc.), it builds a secure and efficient securities tokenization ecosystem, significantly reducing investment barriers and improving asset liquidity. Product diversification The platform plans to further expand diversified investment categories such as foreign exchange trading and commodity futures, and create a comprehensive Asset Allocation platform covering digital currencies, securities, and derivatives to meet users' one-stop needs for global investment. Intelligent service upgrade By deepening the application of artificial intelligence and Big data technology, BiyaPay will continue to optimize the intelligent Asset Allocation engine and real-time risk control system to provide users with more accurate investment decision support and automated wealth management experience. Global market deep cultivation The company's strategy focuses on localization expansion in key markets such as South East Asia, South Asia, and the Americas, and establishes an open and inclusive international trading ecosystem based on dynamic adaptation to regional regulatory frameworks. Payment and capital flow innovation BiyaPay will continue to upgrade the global payment network of Swift Card, promote the deep integration of digital currency and traditional financial scenarios, and achieve seamless cross-scenario circulation and application expansion of user assets. Barton Wang talks about the sixth anniversary: technology and service dual-wheel drive BiyaPay CEO Barton Wang said, "For six years, BiyaPay has been driven by technological innovation and user request-oriented, promoting the deep integration of digital assets and traditional finance. We appreciate the support and trust of global users. In the future, we will continue to increase research and development investment, enhance product competitiveness and compliance capabilities, and provide users with safer, smarter, and more convenient global wealth management services. The sixth anniversary is just a new beginning, and BiyaPay will work with users to create a new era of digital finance." About BiyaPay BiyaPay is a leading global multi-asset trading wallet that supports instant exchange of over 30 legal currencies and over 200 digital currencies. The platform integrates multiple Financial Services such as digital currency trading, US and Hong Kong SAR stock investment, and cross-border remittance, committed to creating a secure, efficient, and convenient asset management platform for global users. BiyaPay has obtained international compliance certifications such as New Zealand FSP, US RIA, and Canadian MSB, continuously providing users with a compliant and trustworthy trading environment. Official website address : service Telegram : Community : service email : service@ View original content to download multimedia: SOURCE BiyaPay


Forbes
a day ago
- Forbes
Stablecoins Were Designed To Be Global Liquidity. Here's How Regulatory Frameworks Are Dealing With That.
When the European Union's Markets in Crypto-Assets (MiCA) regulation was first proposed in 2020 and eventually passed in 2023, it quickly became the most comprehensive attempt yet to regulate digital assets. The framework was closely watched not just for its sweeping application to crypto companies operating in Europe, but especially for how it treated one category in particular: stablecoins. Observers across financial, regulatory, and crypto communities saw in MiCA the early contours of a potential digital euro—and a precedent that could influence global standards. Now, with the rules officially in effect for stablecoins as of June 2024, their regulatory acceptance is no longer theoretical. Across the EU, MiCA-compliant stablecoins are circulating in volume. These include Dutch-issued euro stablecoins, U.S.-based euro tokens, decentralized versions like Euro Tether, and dollar stablecoins restructured to meet MiCA's requirements. Why so many? Because global liquidity is incredibly helpful—especially when it's programmable, transparent, and accessible across borders. Adoption of stablecoins for payments is growing fast. A recent Fireblocks report notes that 58% of global financial institutions are actively exploring stablecoin use cases. Meanwhile, Visa and PayPal have launched their own stablecoin-backed payment products, while Circle's euro-denominated EURC token saw a 43% rise in circulation in Q1 2025 alone. This isn't just happening in the West. In markets like Nigeria, Ghana, and Kenya, businesses are using USDC, EURC, and other compliant tokens to settle cross-border invoices, run remote payroll, and sidestep costly delays in traditional banking. In Latin America and Southeast Asia, stablecoins are helping businesses hedge against inflation and access hard currency equivalents with more predictability. If money of this kind is already flowing efficiently between economies—digitally and compliantly—then the natural question is: how are other regulators responding? In the six months following MiCA's implementation, regulators in several jurisdictions have taken concrete steps to define their own approaches to stablecoins. In July 2024, Singapore finalized its Stablecoin Regulatory Framework, which includes capital and redemption safeguards, similar to MiCA's EMT structure. The United States remains slower to move. The Clarity for Payment Stablecoins Act of 2023 is still stalled in Congress, though the New York Department of Financial Services has taken the lead by issuing individual approvals for USD-backed stablecoins. Meanwhile, Hong Kong concluded its stablecoin consultation in early 2025, signaling a shift toward regulatory recognition in Asia. Despite these developments, global stablecoin policy remains fragmented, with inconsistent licensing regimes, unclear tax implications, and diverging standards on consumer protection. This complicates the lives of global treasurers and payments providers—and threatens to create cross-border regulatory inconsistencies rather than real innovation. In my own experience working across markets and currencies, one lesson stands out: cross-border financial coordination works best when governments create 'currency bridges.' These could take the form of digital trade or payment agreements recognizing stablecoins as legitimate tools for cross-border transfers—or at the very least, easing conversions between digital currencies and local fiat. We're also seeing a trend toward more nations launching their own digital currencies. That's not just about monetary control; it's about making it easier for global payments providers to plug into local economies in a compliant, efficient way. If countries recognize each other's regulated digital currencies—or better yet, create interoperable frameworks—they can preserve monetary sovereignty while benefiting from more liquid, efficient settlement rails. For example, if a digital shilling and a regulated euro token are both in circulation, payments providers could automate FX conversion while remaining compliant across both jurisdictions. Competition in the stablecoin space is heating up. Beyond PayPal and Visa, fintechs, crypto-native companies, and even telecoms are exploring their own iterations. Ripple's XRP Ledger is marketing itself as a preferred chain for stablecoin issuance. Tether and Circle are battling for market share across euro, dollar, and even gold-backed tokens. But here's the real issue: we don't need more stablecoins in USD and EUR. What we need is more digitized fiat from emerging markets—currencies like the Kenyan shilling, Philippine peso, or Brazilian real—in tokenized formats that can plug into global liquidity flows. Without regulatory clarity and technical interoperability for those local currencies, the full potential of stablecoins as a payments and treasury tool will remain limited. The goal is not to recreate speculative markets, but to build more agile, transparent, and inclusive financial infrastructure. The good news? The technology is here. The use cases are real. What's needed now is coordination—across borders, between sectors, and around a shared definition of what money should look like in the 21st century.