FIS Integrates With Visa’s Blockchain Payments Platform B2B Connect

Blockchain, News | April 26, 2019 By:

Financial software provider FIS has teamed with Visa Inc. to enable its commercial financial institution clients to quickly and securely access the Visa B2B Connect platform globally.

Headquartered in Jacksonville, Florida, FIS is an international provider of financial services technology and outsourcing services. The firm provides payment processing and banking software, services and outsourcing of the associated technology. It has over 20,000 clients in more than 130 countries.

The partnership with Visa will see FIS integrate its solution with Visa B2B Connect, a platform designed to give financial institutions a secure, fast and predictable way to process corporate cross-border B2B payments. The integration will reportedly enable FIS and Visa’s mutual bank clients to send their corporate client’s B2B payments directly to and from another participating bank, removing friction associated with multiple intermediaries for any given business-to-business (B2B) transaction.

“The combination of FIS’ global customer base and leadership in commercial payments and Visa’s extensive experience as a payment processing network, creates a strong partnership for adding value to the multinational commercial value chain,” said Raja Gopalakrishnan, international head of Banking and Payments for FIS Global Financial Solutions.

FIS said that it created a custom integration module to help its participating client banks begin transacting on the Visa B2B Connect platform quickly. The company claims that the module will help financial institutions around the world quickly access the platform and begin to manage high-value cross-border payments on behalf of their corporate clients.

“Visa’s core strategy is to help clients and partners drastically improve their customers’ friction-filled experiences,” said Kevin Phalen, global head, Visa Business Solutions, Visa. “We are excited to continue building momentum for Visa B2B Connect and to bring speed, efficiency and transparency to our financial institution clients through our partners, like FIS, who help make transacting on our platform more accessible and seamless.”