Access Bank has partnered with Visa, the world leader in digital payments, to enhance the efficiency of cross-border business-to-business (B2B) payments.
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In a release, Access Bank said payments for the banks corporate, commercial and SME customers would be made 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 Banks 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 Banks 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,” the release read.
Commenting on this development, Victor Etuokwu, Deputy Managing Director, Access Bank, 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 Banks Visa B2B Connect enrolment will help strengthen businesses in Nigeria by delivering fast, transparent, and secure payment services.
“The Banks participation in the Visa B2B Connect platform contributes to technology modernization and service excellence, enhancing Access Banks partnership with businesses in Nigeria,” he said.
Also commenting on the partnership, the Head of Visa B2B Connect, CEMEA, Vishal Virmani, said:
“With Access Banks 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 eco-system 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 havent been solved”, said Andrew Uaboi, General Manager Nigeria and Cluster Head of West Africa, Visa.
As Access Bank join 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.
