Visa launches cross-border transfers between companies in Russia

In Russia, Visa has launched a non-card cross-border payment platform B2B Connect for companies. Businesses will be able to process payments with lower operating costs.

Visa launches cross-border transfers between companies in Russia

International payment system Visa and Modulbank on June 23 launched the Visa B2B Connect service for cross-border transfers between companies in Russia.

It will allow Modulbank, its clients and entrepreneurs to conduct cross-border payments between enterprises within the platform with lower operating costs, the press service of Visa said.

The platform uses a one-to-many connection, thereby reducing the number of correspondent transfers required to process a payment. So the technology allows you to optimize the costs of cross-border transactions.

The platform itself can also be used to send payments to banks that are not members of Visa B2B Connect.

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Photo: Visa

Source: RB.RU by

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