Copy link
Increase text size
Decrease text size
Link copied

FIS partners with Visa to integrate blockchain-based Visa B2B Connect Platform

Fri, 26 Apr 2019, 06:28 am UTC

Financial software provider FIS is teaming up with Visa to enable its commercial financial institution clients to quickly and securely access the blockchain-based platform ‘Visa B2B Connect’.

First previewed in October 2016, Visa B2B Connect aims to provide financial institutions with a simple, fast and secure way to process cross border business-to-business (B2B) payments globally. It is a distributed-ledger based, non-card platform which enables significantly shorter transaction times, from weeks to one-to-two days.

Under the partnership, FIS will integrate its solution with Visa B2B Connect, allowing mutual bank clients of both FIS and Visa to send their corporate client’s B2B payments directly to and from another participating bank. This will help remove the friction associated with multiple intermediaries for any given B2B transaction.

“We are excited to continue building momentum for Visa B2B Connect and to bring speed, efficiency and transparency to our financial institution clients through our partners, like FIS, who help make transacting on our platform more accessible and seamless,” said Kevin Phalen, global head, Visa Business Solutions, Visa.

To make it easy for client banks to start transacting on the Visa B2B Connect platform, FIS has created a custom integration module, which will reduce the need for clients to perform technology updates to their existing systems. This would enable financial institutions to quickly access the platform and start managing high-value cross-border payments on behalf of their corporate clients.

“FIS is excited to partner with Visa to enable financial institutions to connect to this groundbreaking new payments service,” said Raja Gopalakrishnan, international head of Banking and Payments for FIS Global Financial Solutions. “The combination of FIS’ global customer base and leadership in commercial payments and Visa’s extensive experience as a payment processing network, creates a strong partnership for adding value to the multinational commercial value chain.”

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,564.06 (+0.62%)
  • Ethereum (ETH) $238.11 (+1.36%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $243.58 (-0.40%)
  • Bitcoin SV (BSV) $194.72 (-0.68%)
  • Bitcoin (BTC) $9,564.06 (+0.62%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft