Tietoevry Banking has partnered with Visa Direct, a division of Visa specializing in efficient payment services.
This collaboration aims to integrate Visa B2B Connect into the Tietoevry Payment Hub, enhancing the payment capabilities of Tietoevry’s client financial institutions. Visa B2B Connect is known for offering corporate customers faster, more cost-effective, and transparent payment options for international transactions.
The partnership between Tietoevry Banking and Visa Direct is driven by the need to solve long-standing issues in cross-border payments for businesses. Traditionally, these transactions have been plagued by challenges such as high costs, slow processing times, and lack of transparency, particularly in managing payments in rare or exotic currencies.
Tietoevry Banking, as a leader in financial technology solutions, delivers a robust platform that empowers banks to provide seamless payment experiences. The company’s Payment Hub is designed to address the complexities of modern financial transactions by offering scalable and secure payment processing solutions. On the other hand, Visa Direct is renowned for its ability to streamline payments across borders, offering solutions that enhance the efficiency and security of corporate transactions.
This strategic partnership is expected to provide significant benefits to corporate clients, particularly SMEs. By integrating Visa B2B Connect, Tietoevry Banking will offer an API-based solution that not only accelerates the time-to-market but also ensures minimal investment from their clients. This integration promises end-to-end visibility of funds, faster transaction speeds, predictable costs, and access to optimized liquidity pools, addressing many of the pain points associated with traditional B2B payments.
In addition to the main features of the partnership, the collaboration reflects a commitment to modernizing the infrastructure for cross-border payments. By leveraging cutting-edge technology and comprehensive payment solutions, both Tietoevry Banking and Visa aim to facilitate smoother and more reliable financial transactions across Europe.
Tietoevry Banking head of payment products and services Jarkko Turunen said, “We are pleased to offer our clients this attractive payment method for their corporate customers within our Payments-as-a-Service (PaaS). Businesses of all sizes, but especially SMEs, have long struggled with high costs, complexity and lack of transparency when paying other businesses across borders. The integration of Visa B2B Connect provides our clients with an API-based solution that accelerates time-to-market with minimal additional investment. In turn, their corporate clients will benefit from end-to-end visibility of funds, faster and more secure transactions, predictable costs and access to optimized pools of liquidity.”
Visa Direct VP Revenue & Growth, Europe Anastasia Serikova added, “Visa is committed to modernizing cross-border payments around the world. The collaboration we are announcing today with Tietoevry Banking will help more banks across Europe start transacting on our network, bringing faster, more transparent payments to their customers. Visa B2B Connect simplifies and speeds up transactions for banks and their clients, reducing costs for an efficient and secure way to move money globally.”
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