Visa Readies B2B Connect for Market
Visa’s Distributed Ledger Platform Provides Groundbreaking “Digital Identity” for Clients;
IBM and Bottomline Technologies Announced as New Partners for Commercial Launch
businesswire.com
“With B2B Connect, we’re developing a new way for businesses to make cross border, high value payments – fixing broken processes and breaking down geographic barriers along the way,” said Kevin Phalen, global head, Visa Business Solutions, Visa. “B2B Connect will facilitate payments for financial institutions for a variety of industry verticals, including supply chain, trade, institutional banking and more.”
B2B Connect’s digital identity feature tokenizes an organization’s sensitive business information, such as banking details and account numbers, giving them a unique identifier that can be used to facilitate transactions on the platform. Encompassing safety, security and governance all in one solution, B2B Connect’s digital identity feature will transform the way information is exchanged in business-to-business cross-border transactions.
“B2B Connect’s digital identity greatly reduces the opportunity for fraud that might otherwise exist with checks, ACH and wire transfers today, while also helping companies remain compliant as part of the regulated financial ecosystem,” continues Phalen. |
