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Online Payments

Visa partners with banks for cross-border B2B payments

Monday 20 November 2017 | 10:20 AM CET

Visa has announced that it prepares for the 2018 commercial launch of Visa B2B Connect with a partnership with several banks.

Visa B2B Connect is a platform that is focused on providing banks a fast way to process cross-border business-to-business (B2B) payments. The platform, which was previewed in 2016, uses blockchain technology to route transactions over Visa's network from the sending bank directly to the recipient.

To begin testing, the network is currently partnering with international banks such as Commerce Bank (US), Shinhan Bank (South Korea), Union Bank (Philippines), and United Overseas Bank (Singapore).

More: Link
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