Miami City, July 11th, 2023 - Visa Inc. (NYSE: V) and CB International Bank (CBiBank) announce the launching of an innovative cross-border B2B payments solution for businesses worldwide. CB International Bank has officially joined the Visa B2B Connect platform, ushering in a new era of faster, more cost-effective, and secure B2B payment services.
Visa B2B Connect, Visa's revolutionary global payments platform, combines the vast resources of a traditional financial institution with the agility of innovative fintech solutions. Built upon Visa's extensive global network and fortified by advanced security technology, Visa B2B Connect empowers businesses to seamlessly authenticate and manage cross-border B2B payments. By offering real-time visibility, expedited payment processing, and robust monitoring capabilities, the platform sets new standards for efficiency, transparency, and security.
Scott Wu, Executive Director of CB International Bank, expressed his enthusiasm about reaching this great milestone: "We are thrilled to join Visa B2B Connect, a platform that addresses the pain points of traditional inter-bank cross-border payments. By transforming the landscape of cross-border transactions, we can deliver faster and easier payment solutions that meet the growing demands of our customers. Our collaboration with Visa B2B Connect enables us to provide enhanced customer convenience, embracing the core values of digital financial inclusion."
“This collaboration between Visa B2B Connect and CB International Bank unlocks unparalleled opportunities for international payments and global e-commerce, revolutionizing the way businesses engage in cross-border transactions,” said Luis Guerra, Country Manager Visa Puerto Rico. “Visa B2B Connect, the innovative international payment network, is already processing transactions in Puerto Rico making corporate payments faster, safer and more efficient.”
“The participation of CB International Bank in the Visa B2B Connect network untaps great opportunities to businesses engaged in cross-border payments activities in Puerto Rico and enhances greatly the regional and global footprint of the network,” said Edward Dominguez, Sr. Director and Head of Visa B2B Connect in Latin America. “CB International Bank is the first bank in Puerto Rico to be live in the network and it joins a number of banks that are currently active sending and receiving cross-border commercial payments in the Caribbean Region”
Both Visa and CB International Bank are excited about this launching as it brings profound benefits to businesses worldwide. With an unwavering focus on customer satisfaction, the partnership aims to reshape the future of cross-border B2B payments by offering finality, predictability, and transparency.