Citcon, the leading mobile wallet payment provider, today announced that it has received $30 million in Series C financing.

Visa and Citcon team to expand money movement capabilities. Visa and Citcon link up to expand money movement capabilities. By PYMNTS | March 10, 2026 Merchant payments provider Citcon said it has formed a money movement-focused collaboration with Visa Direct. The partnership is designed to extend access to push payment capabilities in both U.S. domestic and cross-border corridors, the company said in a Tuesday (March 10) news release. "When we started Citcon 10 years ago, our vision was to help merchants accept payments and pay out across borders as easily as running their business in their hometown," said Wei Jiang, the company's president and co-founder. "This is a major launch for us in support of that mission. By integrating Visa Direct's push payment capabilities across cards, bank accounts, and wallets, we're empowering our merchants with faster payouts, improved settlement experiences, and new flexibility across both U.S. domestic and international corridors," he added. With this integration, Citcon will be able to push payment capabilities using Visa Direct to eligible cards, along with accounts and wallets reachable through local payment networks in supported markets. These capabilities can lead to greater flexibility for a variety of modern payout scenarios, the company said. Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks! "Citcon plans to make these capabilities available to its network of 3,000+ merchants, helping support use cases such as marketplace payouts, platform disbursements, cross-border settlement, customer refunds, and other payout flows that benefit from increased flexibility," the release added. The partnership comes as many businesses, including small and medium-sized businesses (SMBs), continue to suffer from operational strain caused by slower payments, as PYMNTS wrote last month. These businesses are forced to delay payroll, postpone payments to vendors or turn to short-term credit to manage routine expenses. "Over time, these disruptions erode trust with suppliers and employees while signaling higher risk to lenders," the report said. "Research consistently shows that inconsistent cash flow, rather than weak profitability, is a leading barrier preventing SMBs from qualifying for financing." But despite these risks, many small businesses still rely on legacy methods. Paper checks and manual processes persist because they feel familiar and accessible. In reality, they slow settlement, lead to more administrative work and lessen visibility into incoming funds. This makes it tough for owners to forecast accurately, address shortfalls or plan with confidence. "Faster payment methods offer a clear alternative," the report said. "Instant and same-day payments allow receivables to convert into usable working capital without delay. Businesses gain better control over liquidity, reduce reliance on credit lines and improve day-to-day financial stability. Improved speed also supports stronger oversight and transparency, helping businesses manage risk while moving money more efficiently."