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Access Bank, Visa Partner To Facilitate B2B Cross-Border Payments | Citizen NewsNG

ByCitizen NewsNG

Oct 15, 2023

 

 

Access Bank has partnered Visa to enhance efficiency of cross-border business-to-business payments for the bank’s corporate, commercial and Small and Medium Enterprise (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, deputy managing director, Access Bank, Victor Etuokwu, said: “Access 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. 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 enrollment 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: “With Access Bank’s addition to Visa B2B Connect, we are excited to launch the platform in Nigeria and West Africa to benefit businesses and the cross-border payments ecosystem in the country. The solution supports digital innovation and increases efficiency for financial institutions and their corporate clients.”

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.

“Technology is bringing us closer together; yet, when it comes to small businesses and corporate clients moving money around the world, there are challenges that remain that haven’t been solved,” said general manager, Nigeria and Cluster Head of West Africa, Visa, Andrew Uaboi.

“As Access Bank joins the Visa B2B Connect network in Nigeria, the Bank’s collaboration with Visa will help businesses in the country to send and receive international payments quickly and securely,” he added.

 

By Bukola Idowu

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