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Visa B2B Connect

Visa B2B Connect is designed to simplify and streamline cross-border B2B payments by utilizing blockchain technology to enhance transparency, security, and speed. It aims to address some of the challenges associated with traditional international payment processes, such as delays, inefficiencies, and the need for intermediaries.

Visa B2B Connect

Benefits

  • Enable swift and secure transfers at a lower cost from the originating bank to the beneficiary bank
  • Minimizing delays
  • Simplifying international transactions

Our competitive advantages

  • 100% shariah-backed
  • 9 major currencies
  • International peers : One of 109 countries FI worldwide

Key Highlight of Visa B2B Connect vs SWIFT

Features Visa B2B Connect Swift
Speed
  • Leverages Visa’s network infrastructure to facilitate faster transactions.
  • Within 1 hour and more than 50 of the beneficiary will receive the fund within 10 minutes subject to beneficiaries’ bank AML/KYC process).
  • Relies on intermediary banks, which can introduce delays.
  • Clearing/settlement typically takes several days (up to 3 day).
Cost
  • Streamlined approach eliminates intermediaries, resulting in cost savings for customers.
  • High fees due to the involvement of multiple intermediary banks.
Transparency
  • Providing real-time updates, ensuring transparency throughout the payment cycle.
  • Lack real-time tracking and visibility, challenging for customer to a track the progress of their transactions.
Security
  • Incorporates advanced security features.
  • Secure system.

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2024-02-27 08:21:06