Visa launched a Blockchain-based solution for international payments

Visa has released its payment network, Visa B2B Connect. Well-known partners such as IBM have been involved in the business, customers and banks tailored Distributed Ledger solution. Has failed to Ripple the last hour?

By Christopher clover
13. June 2019BTC$8.156,00 1.69%part Facebook Twitter LinkedIn xing mail

The credit card company Visa has announced the launch of their Blockchain-solution for business customers, announced. "B2B Connect" to the world to accelerate cross-border credit Transfers between banks and their business customers. To be allows, among other things, due to the elimination of an Intermediary – one of the key benefits of the Blockchain and Distributed Ledger technology. An important role plays the ability to transfer digital identities via the B2B Connect is forgery-proof. Visa B2B Connect has integrated with the Enterprise solution, Hyper Ledger of the Linux Foundation. With Bottomline Technologies and Fidelity International Services (FIS) has Visa can also win already in the run-up to well-connected payment service provider for yourself.

The modernization of financial institutions on all payment systems is an important principle of the global strategy of the FIS, and we are pleased to be among the first partners of the need for a Visa, which will enable our joint customers the access to the Visa-B2B-Connect platform, to a large extent,

Raja Gopalakrishnan, international head of Banking and Payments at FIS Global Financial Solutions says, to the cooperation.

Visa B2B Connect is a trump card against Ripple?

In addition, the U.S. IT has played a giant IBM in the creation of B2B Connect. Marie Wieck, General Manager of IBM Blockchain, commented:

In cooperation with Visa, B2B Connect, we combine the Strengths of the world's leading provider for electronic payments with the recognized Expertise of IBM with the support of the scaling of distributed ledgers. This is a unique example of how the block chain can contribute based architecture for the Transformation of B2B value chains, by enabling secure and transparent transactions around the world.

Visa sees in B2B Connect, the "basis for a Service that has the potential to transform cross-border payments". This is exactly what the California-based cryptography company, Ripple Labs, which aims, with its Ripple network on the inter-Bank trading, however. It will be exciting to see who will prevail here. The Californian crypto Start-up, the established Visa-the group manages to push out of his throne? Or has failed to Ripple, and the same name of the payment Protocol, with the launch of Visa B2B Connect the last hour?

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