Latest news with #VisaB2BConnect
Business Wire
16-06-2025
- Business
- Business Wire
Visa Releases Money Travels: 2025 Digital Remittances Adoption Report for North America
SAN FRANCISCO--(BUSINESS WIRE)--Visa Inc. (NYSE: V) today unveiled its Money Travels: 2025 Digital Remittances Adoption Report, highlighting the growing influence of digital remittance applications in North America, driven by convenience, security, and user-friendly experiences. "Digital remittances are being embraced across North America due to their ease of use, reliability, and improved security," said Ben Ellis, SVP and Head of Visa B2B Connect. "As digital remittances become more prevalent, transparency and customer satisfaction will be essential to meet evolving consumer expectations." Key Findings for North America Digital App Dominance: App Preference: In the U.S., 69% of surveyed respondents prefer using digital apps for sending remittances, while 61% prefer using them for receiving. In Canada, the preference is similarly strong, with 65% preferring digital apps for both sending and receiving. Traditional Methods Lag: The use of traditional methods like cash or checks is declining, with only 5% to 8% of respondents in the U.S. and 3% to 6% of respondents in Canada favoring these options. Ease of Use: Ease and Peace of Mind: A significant portion of surveyed respondents in the U.S. (38%/34%) and Canada (45%/40%) appreciate the ease of using digital apps for remittances, while security and privacy are crucial for 36% of U.S. survey respondents and 40% of Canadian survey respondents. Primary Reasons: Unexpected needs (36% in the U.S., 32% in Canada) remain the top reason for sending remittances for survey respondents, followed by holidays and special occasions. Pain Points: Fees: High fees remain a concern, with 27% of U.S. and 30% of Canadian respondents citing this as a major issue when sending digitally. Traditional methods and hidden fees: 35% of U.S. and 28% of respondents said they had experienced some kind of hidden fee when using cash, checks or money orders. With one billion people globally involved in remittances and stable engagement in North America, Visa continues to innovate with solutions like stablecoins to help enhance cost-efficiency and broaden financial access. "Digital remittances have revolutionized the industry and offer consumers more options than ever before to send funds, but there's still room for further innovation," added Luba Goldberg, SVP, Visa Direct Product. "Continued expansion of digital options to send money around the world, and emerging technologies such as stablecoins, are poised to improve the speed, cost, and security of international remittances." About Visa Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions, and government entities across more than 200 markets. Our mission is to connect the world through the most innovative, convenient, reliable, and secure payments network, enabling individuals, businesses, and economies to thrive. We believe that economies that include everyone everywhere uplift everyone everywhere, and see access as foundational to the future of money movement. Learn more at
Fintech News ME
06-06-2025
- Business
- Fintech News ME
Qatar Islamic Bank Partners with Visa to Boost Cross-Border B2B Payments
Qatar Islamic Bank (QIB) has partnered with Visa to enhance cross-border business-to-business (B2B) transactions. The collaboration involves the integration of the Visa B2B Connect platform, which will enable corporate clients to transfer funds from Qatar to 120 countries in a secure and streamlined manner. The platform is designed to support businesses in conducting international transactions more efficiently, aiming to improve the reliability and security of cross-border payments. QIB's adoption of Visa B2B Connect aligns with its broader strategy to strengthen international payment corridors and provide clients with cost-effective and consistent transfer services. Tarek Fawzi, General Manager, Wholesale Banking Group at QIB, said: 'By leveraging cutting-edge technology and digital advancements, we're able to process account-to-account transfers promptly, helping businesses stay competitive and contributing to the broader economic landscape.' QIB is the first Islamic bank in Qatar to adopt the Visa B2B Connect platform, adding to its existing international money transfer services and expanding its digital payment capabilities. Shashank Singh, Visa's Vice President and General Manager for Qatar and Kuwait, said: 'Visa B2B Connect provides seamless, secure and efficient global money movement solutions for financial institutions and their corporate clients. The solution also supports the Qatar government's efforts to drive digital innovation in the financial and business sector.' International money transfers often involve complexities, but this new network aims to improve transparency and predictability. These features may support better financial planning and strategic decision-making for businesses operating across borders.
Qatar Tribune
03-06-2025
- Business
- Qatar Tribune
QIB, Visa tie up to ease B2B payments
Tribune News Network Doha QIB, Qatar's leading digital bank, and Visa, a world leader in digital payments, have partnered to streamline corporate cross-border business-to-business payments to 120 countries worldwide through the adoption of the Visa B2B Connect platform. The Visa B2B Connect platform is a payment network that will allow corporates to send money conveniently and securely from Qatar to multiple markets across the globe through QIB, therefore, facilitating seamless business operations. The announcement of the partnership signifies QIB's continued commitment to collaborate with its partners to facilitate trade across various international payment corridors by giving customers cost-effective, efficient, reliable and secure, money transfer services. Commenting on this, QIB General Manager – Wholesale Banking Group Tarek Fawzi said, 'In today's fast-paced business environment, it's essential for companies to have a banking partner that can ensure swift transactions. Our partnership with Visa reinforces our commitment to providing businesses with efficient cross-border payment solutions. By leveraging cutting-edge technology and digital advancements, we're able to process account-to-account transfers promptly, helping businesses stay competitive and contributing to the broader economic landscape.' QIB will be the first Islamic bank in Qatar adopting Visa B2B Connect and complementing its already existing outbound money transfer solutions and platforms simplifying international money transfer and payment services globally. Also commenting on the partnership, Visa VP and General Manager for Qatar and Kuwait Shashank Singh said, 'Visa B2B Connect provides seamless, secure and efficient global money movement solutions for financial institutions and their corporate clients. The solution also supports the Qatar government's efforts to drive digital innovation in the financial and business sector and so we're excited to partner with QIB in bringing Visa B2B Connect for the benefit of the local market as well as the wider Middle East region.' Although many businesses may find international money transfer complex, the new network promises predictability and transparency to customers, therefore, providing key insights for strategic decision making and partnership will streamline cross-border payments to 120 countries worldwide through the adoption of the Visa B2B Connect platformBusinesses will enjoy efficient, reliable and secure, money transfer servicesAccount-to-account transactions from QIB Corporate accounts to beneficiary banks to be facilitated through the deployment of Visa B2B Connect QIB Corporate and SME customers will gain access to an account-to-account cross-border payments service that operates 24x7 with ability to transactions in over 80+ currencies
Zawya
03-06-2025
- Business
- Zawya
QIB and Visa partner to facilitate B2B Cross-Border Payments
Businesses will enjoy efficient, reliable and secure, money transfer services. Account-to-account transactions from QIB Corporate accounts to beneficiary banks to be facilitated through the deployment of Visa B2B Connect. QIB Corporate and SME customers will gain access to an account-to-account cross-border payments service that operates 24x7 with ability to transactions in over 80+ currencies. Qatar, Doha. QIB, Qatar's leading digital bank, and Visa, a world leader in digital payments, have partnered to streamline corporate cross-border business-to-business payments to 120 countries worldwide through the adoption of the Visa B2B Connect platform. The Visa B2B Connect platform is a payment network that will allow corporates to send money conveniently and securely from Qatar to multiple markets across the globe through QIB, therefore, facilitating seamless business operations. The announcement of the partnership signifies QIB's continued commitment to collaborate with its partners to facilitate trade across various international payment corridors by giving customers cost-effective, efficient, reliable and secure, money transfer services. Commenting on this, Mr. Tarek Fawzi, QIB's General Manager – Wholesale Banking Group, said: 'In today's fast-paced business environment, it's essential for companies to have a banking partner that can ensure swift transactions. Our partnership with Visa reinforces our commitment to providing businesses with efficient cross-border payment solutions. By leveraging cutting-edge technology and digital advancements, we're able to process account-to-account transfers promptly, helping businesses stay competitive and contributing to the broader economic landscape.' QIB will be the first Islamic bank in Qatar adopting Visa B2B Connect and complementing its already existing outbound money transfer solutions and platforms simplifying international money transfer and payment services globally. Also commenting on the partnership, Mr. Shashank Singh, Visa's VP and General Manager for Qatar and Kuwait, said 'Visa B2B Connect provides seamless, secure and efficient global money movement solutions for financial institutions and their corporate clients. The solution also supports the Qatar government's efforts to drive digital innovation in the financial and business sector and so we're excited to partner with QIB in bringing Visa B2B Connect for the benefit of the local market as well as the wider Middle East region.' Although many businesses may find international money transfer complex, the new network promises predictability and transparency to customers, therefore, providing key insights for strategic decision making and business planning.
The Star
24-05-2025
- Business
- The Star
Agricultural Promotion Bank leads financial innovation in Laos with Visa for seamless cross-border payments
- Photo: Vientiane Times/ANN VIENTIANE: The Agricultural Promotion Bank Co., Ltd. (APB) is reinforcing its position as a leader in financial innovation through a collaboration with Visa, a global pioneer in digital payments. By adopting Visa B2B Connect, APB is enhancing its cross-border payment capabilities with a secure, efficient, and transparent solution designed for modern business needs. The launch on April 30 of APB World-Remit enabled by Visa B2B Connect marks a significant step in improving the way Lao businesses handle international transactions. This platform enables direct bank-to-bank transfers, increases transparency, and allows clients to track payments in near real-time, delivering greater speed, accuracy, and confidence in every transaction. Managing Director of APB, Philavanh Sophabmixay, said "This collaboration with Visa aligns perfectly with APB's commitment to advancing digital financial services and contributing to sustainable economic development in Laos. "Guided by our 'Swift, Complete, Accessible' strategy, we're creating an integrated ecosystem that supports corporate clients with smart tools for payments, liquidity, and real-time international fund management." - Photo: Vientiane Times/ANN He also noted that APB World-Remit with Visa B2B Connect supports a broad range of foreign currencies and is available in more than 110 countries and territories, strengthening APB's role in connecting Lao businesses to international markets. Visa Country Manager for Vietnam and Laos, Dung Dang, said "We are pleased to support APB in enhancing cross-border transactions for businesses in Laos. "The adoption of Visa B2B Connect will provide Lao businesses with a robust solution for managing international payments more effectively. "This collaboration highlights our commitment to fostering innovation and offering seamless financial solutions that cater to the evolving needs of our clients and partners in Laos." This collaboration is part of APB's wider Digital Remittance Solutions initiative, focused on expanding global service offerings through forward-looking technology and strong strategic collaborations. Corporate customers can now access cross-border payment services via the APB Business platform. - Vientiane Times/ANN
