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NetXD has announced the expansion of its payments collaboration with Visa B2B Connect to onboard banks in Asia, following the successful onboarding of several banks across eight countries in Europe and the Americas.
NetXD’s payments-as-a-service offering provides banks with various options to integrate with Visa B2B Connect. Using the experience of NetXD and Visa B2B Connect, banks can increase the speed to go live, benefiting from a pre-certified integration and a proven track record of onboarding numerous banks across Europe and Latin America since 2020.
Visa B2B Connect is a multilateral network that builds on Visa’s reputation and expertise, providing a predictable, secure, and cost-effective solution for financial institutions and their corporate clients. The solution offers banks an alternative to the traditional correspondent banking network to facilitate business-to-business cross-border payments.
Visa B2B Connect improves the customer experience by providing predictability, finality, and transparency in transactions. It can reduce costs by eliminating intermediary fees, minimizing upfront investment, and lowering operational overhead.
The platform ensures security and efficiency through screened participants, tokenisation of sensitive information, and direct messaging for case resolution. Additionally, banks have the flexibility to utilise Visa or their own treasury for FX rates.
“Visa is committed to modernizing cross-border payments around the world and the collaboration with NetXD will help our clients start transacting on our network even faster. We are excited to kick off the collaboration in Asia Pacific with more markets to follow this year,” said Ben Ellis, Global Head of Visa B2B Connect at Visa. “Visa B2B Connect simplifies and speeds up transactions for banks and their clients, reducing costs for a more efficient and secure way to move money globally.”
NetXD has been a certified onboarding partner for Visa B2B Connect since 2020, with its hosted payments-as-a-service offering.
NetXD’s payments-as-a-service enables banks to get to market and transact in a matter of weeks without additional upfront investment to build or integrate existing messages to transfer to and from customer accounts. NetXD also offers the capability to screen transactions for all participants before submitting to Visa for processing.
“We are delighted to announce the expansion of our collaboration with Visa B2B Connect in APAC,” said Seshadri Rengarajan, Head of Platform and Strategy, NetXD Inc. “Visa B2B Connect is available in 118 countries and territories, and growing and provides a cost-effective solution for banks to facilitate business-to-business cross border payments. NetXD’s solution enables banks to get onboarded in a short time with no technology change or integration.”
