Posted on October, 17, 2023 at 09:29 am
To facilitate cross-border payments, Access Bank recently partnered with Visa, the world leader in digital payments, to enhance the efficiency of cross-border business-to-business payments for the bank’s corporate, commercial and SME customers by adopting the Visa B2B Connect platform to send and receive payments to and from 110 countries worldwide.
Visa B2B Connect is a payment platform that will allow Access Bank’s business customers to send money faster, efficiently, and securely from Nigeria to multiple markets across the globe, facilitating seamless business operations.
The announcement of this partnership signifies Access Bank’s commitment to digital innovation and providing best-in-class services to SMEs and large corporate clients. The collaboration will enhance customer experience and develop commerce across various trading corridors by providing businesses with cross-border payment services that are cost-effective, efficient, reliable, and secure.
Commenting on this, Victor Etuokwu, Deputy Managing Director, Access Bank, said that the bank has the vision to be the bank of first choice, offering innovative financial services, built on trust and driven by a passion for excellence.
Etuokwu said, “The partnership with Visa brings innovation to the forefront and provides our clients with the latest technology advancements to meet their changing needs. Access Bank’s Visa B2B Connect enrolment will help strengthen businesses in Nigeria by delivering fast, transparent, and secure payment services. The Bank’s participation in the Visa B2B Connect platform contributes to technology modernization and service excellence, enhancing Access Bank’s partnership with businesses in Nigeria.”
Also commenting on the partnership, the Head of Visa B2B Connect, CEMEA, Vishal Virmani, said that the firm, in collaboration with Access Bank, is excited to launch the platform in Nigeria and West Africa to benefit businesses and the cross-border payments ecosystem in the country.
Virmani added that the solution supports digital innovation and increases efficiency for financial institutions and their corporate clients. According to him, Visa B2B Connect is an innovative, non-card-based multilateral platform delivering B2B cross-border payments to 110 countries worldwide that are predictable, secure, and cost-effective for financial institutions and their corporate clients.
Although many businesses may find cross-border payments complex, Visa B2B Connect creates predictability and transparency for customers, providing key insights for strategic decision-making and business planning.
Source: The Sun