Visa launches new blockchain payment system B2B connect

Card provider giant Visa has announced it is launching a blockchain-based payment platform.
B2B connect has been worked on over the years behind scenes, which will be available initially to just corporate, with scope to role out to private clients.

Ken Chigbo Independent Analyst

Household card provider, Visa has recently announced that they are launching a blockchain-based payment platform called B2B connect. The company has behind scenes been working on the development of the project for a number of years.

An official representative from Visa detailed that B2B Connect is a solution for the delayed payment processing systems in the current financial industry. By implementing the blockchain, Visa will facilitate instant transactions while also recording them on a ledger if needs be.

It is noted that this payment method is designed for corporate clients, but its performance will be evaluated a month or two with testing, to determine if Visa will launch it on the retail level as well.

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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