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Visa Takes on PayPal with Personal Payments Service

visa logoVisa announced plans on Wednesday for a new personal payments service, with which U.S. customers can send or receive funds from any Visa credit, debit or prepaid bank account across the world. Much like with PayPal, customers with Visa accounts at participating banks will be able to swap money by entering the sixteen-digit account number, e-mail address or cell phone number associated with the recipient's account. Visa already offered a personal payments service through banks based overseas, but this will be the first time it's been available to customers who bank in the U.S.

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