Monday, 17 February 2020

Kasikornbank, Visa partner to pilot blockchain-based B2B payments

Kasikornbank has joined the Visa B2B Connect pilot program to help financial institutions process cross-border B2B payments.
The Thai bank Kasikornbank will be included in the pilot program to simplify the cross-border payments. Visa has already partnered with several other financial institutions globally, however, Siriporn Wongtriphop, First Senior Vice President of Kasikornbank suggests that the partnership is the first step of a new paradigm in reimagining cross-border payment transactions.

Visa’s focus is to provide the financial institution partner with access to their products, tools and expertise that will enable their growth and success. Together with their technological capability and network, the collaboration with Kbank will create a transparent way for B2B payments.

At the same time, through Visa B2B Connect, Visa aims to improve the way international B2B payments are made nowadays, by offering improved processing time and visibility into the transaction process, this way, reducing the resources required by banks and their corporate clients to send and receive business payments around the world.

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