# VISA | Setoo

## Challenge: Providing immediate access to funds during times of need

From travel delays to natural disasters, emergencies arise when people  
least expect them. During these trying times, individuals are often  
unprepared to complete forms, confirm claim estimates and pay  
expenses. In these moments, immediate access to funds is critical.

Historically, insurance payouts have been a cumbersome experience  
dominated by inefficient and slow payment methods such as cheques  
and bank transfers. Customers often wait days or weeks for a cheque to  
clear or a bank transfer to post.

Using Visa Direct, Setoo now offers a real-time payout solution to its  
customers. When a customer purchases insurance powered by Setoo  
with their Visa debit card, Setoo pays out claims in real-time directly  
back to the card, without collecting any additional information from the  
customer. In the event of an incident, a single authorisation and a clearing  
message is sent to Visa, with funds posted to the cardholder’s account,  
typically within seconds.

## Solution: Real-time payments to the rescue!

Customers are immediately paid and able to use  
the funds to mitigate the emergency at hand.

“We empower online businesses  
to create and distribute innovative  
insurance products, removing the need  
for any claims process and providing  
real-time compensation. Visa Direct  
fits perfectly with the quick, smooth  
disbursement we require.”

## Eyal Gluska, co-founder

## & co-CEO of Setoo

## Result: An industry-leading customer experience

Visa is committed to working with innovative companies  
in the insurance industry to transform outdated and time-consuming payout processes into real-time access to  
funds when individuals, families and businesses need them  
the most.