Money 20/20: Visa, Chain Expand on B2B Connect
On Sunday afternoon’s lead-off keynote address at the Money 20/20 Conference in Las Vegas, Visa and Chain joined to collectively promote their new, blockchain-inspired payments platform, B2B Connect. Visa and Chain Use Blockchain for B2B Transactions. Leveraging benefits from shared infrastructural ledger technology, including global scale, transparency, and cryptographically-backed security, the Visa B2B Connect product is built on Chain’s proprietary Chain Core software. The product will go live with a pilot in early 2017, though successful tests have already been conducted. Vicky....
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Visa is working on a blockchain-based solution for cross-border, business-to-business exchange called Visa B2B Connect. Cross-border payments between businesses is a complex market that is fraught with problems but is lucrative nonetheless, a potential that Visa seems eager to tap into. Visa Unveils its Collaborative Project. Visa, in collaboration with tech start-up, Chain Inc., unveiled the project on October 21, 2016. Chain, a startup that Visa happens to be an investor in, has also worked with Google, Salesforce, Microsoft, Square, and among others in the past. Visa B2B Connect seems....
On October 21, 2016, Visa announced a new partnership with blockchain enterprise company Chain that will develop “a simple, fast and secure way to process B2B payments globally.” Dubbed Visa B2B Connect, the system will offer participating pilot financial institutions a consistent process for managing settlement through Visa’s standard practices. “The time has never been better for the global business community to take advantage of new payment technologies and improve some of the most fundamental processes needed to run their businesses,” said McCarthy. “We are developing our new solution....
Per a report from CNBC, crypto exchange FTX will expand its cooperation with payment giant Visa. The partners will take their crypto debit cards from the United States to over 40 countries and millions of users and merchants worldwide. Related Reading: Don’t Call It A Hack: Crypto Reacts To The Binance Smart Chain Exploit And […]
Visa has announced new details about a forthcoming business-to-business payments service developed in partnership with blockchain startup Chain. Dubbed Visa B2B Connect, the near real-time settlement platform is aimed at providing a more secure, transparent mechanism for businesses making payments via Visa’s netowrk. That the two firms would co-develop a platform for payments is perhaps unsurprising, given their existing relationship and the fact that Visa was took part in Chain’s $30m funding round, announced last September. The credit card giant has made other blockchain tests related to....
Visa has rolled out VisaB2B, which uses blockchain technology developed in partnership with Chain Inc., challenging the SWIFT messaging network as the dominant method for moving large sums across borders. The article stated that amid dozens of blockchain experiments by banks and other players, VisaB2B is among the first commercial blockchain products to emerge. Some technology analysts have warned that blockchain will not live up to its expectations. Banks Invest $1 Billion+ Banks alone will invest more than $1 billion in blockchain technology, according to Greenwich Associates, with....