The American transnational company providing payment services announced the launch of a pilot phase of payment for services between the B2B business using blockchain technology.
The company plans to use the platform to facilitate cross-border payments by facilitating direct payments between businesses and removing intermediaries from this industry.
The project is already working Commerce Bank from the United States, South Korean Shinhan Bank, Union Bank from the Philippines and United Overseas Bank, based in Singapore.
After the first stage, the company will launch the second and then plans to proceed to commercial launch - this should happen in mid-2018. The head of the department of global solutions Visa Kevin Fahlen, I am convinced that this will serve to increase interbank transactions through this platform.
Fahlen added:
'The launch announced this week by Visa is only the first step in launching B2B connections. We begin test transactions with individual banks, and in the near future we will connect corporate customers. '
Visa partners in the future will be able to use the API of the company's application (API) to create their own platforms, according to a press release.
🤗 source: bitnovosti.com 🤗