Visa's corporate payments network adds new markets
Infosys has joined Visa B2B Connect, a four-month old Visa hub that cuts indirect processes and intermediaries out of global business transactions.
The India-based Infosys' financial institution partners will have direct access to Visa B2B Connect for cross-border payments.
Infosys joins several partners Visa previously announced that are participating in its B2B Connect hub, including FIS, Bottomline and IBM.
Since launching the service in June 2019, Visa has doubled the service’s reach to 62 global trade corridors from 30, and it plans to reach more than 100 countries by next year, the card network reports.
Visa B2B Connect’s goal is to reduce settlement times for corporate funds-transfers from several days or weeks to one or two days. “We believe that through this engagement we will be able to jointly reach a large number of banks and support their cross-border needs,” said Narayan Sivaram (Nans), Infosys’ global head of cards and payments, in a release.