Terabank announces the implementation of Visa B2B connect with Visa, the world leader in digital payments. The bank will soon offer business clients the fastest, most effective and most secure cross-border payments system. It is a significant moment for Terabank as it will be a pioneer to use Visa’s cutting-edge platform, Visa B2B Connect, solidifying the bank’s commitment to innovation and providing top-tier services to SMEs and large corporate clients.
“As a Bank, we aim to provide our clients with fast, transparent, and secure services. Terabank’s enrollment in Visa B2B Connect will help strengthen business in Georgia and further build the financial services ecosystem for our corporate clients. Terabank’s participation in Visa B2B Connect contributes to the bank’s digital innovation agenda and enhances the partnership of businesses in Georgia with foreign counterparties,”- said Thea Lortkipanidze, Chief Executive Officer of Terabank.
Visa B2B Connect is an innovative, non-card-based multilateral platform delivering B2B cross-border payments to 107 countries worldwide, that are predictable, secure, and cost-effective for financial institutions and their corporate clients. Unlike traditional methods, Visa B2B Connect facilitates account-to-account transactions from customer accounts directly to beneficiary banks in a seamless manner within 24 to 48 hours, depending on the receiving country. This will create a competitive benefit for all commercial clients of the bank, and it will be possible to receive the service both remotely, through the Terabank mobile application, and over-the-counter at Terabank branches.
“Our team is excited to launch Visa B2B Connect in Georgia in partnership with Terabank to facilitate cross-border payment from Georgia to multiple markets across the globe. We believe that by implementing one more innovative technology in Georgia, we increase the efficiency of local financial institutions and their corporate clients, and support businesses and SMBs to enjoy Visa B2B connect platform and its benefits. At Visa, we are confident that by driving value for banks as trusted partners, we develop digital payments and e-commerce on a local and global level,” Diana Kiguradze, Visa Regional Manager for the Caucasus Region said.
The Head of Visa B2B Connect, CEMEA, Vishal Virmani, said, “The Visa B2B Connect platform is designed to make cross-border payments easier, fast, secure, and efficient. Terabank’s participation in Visa B2B Connect will benefit the bank’s customers and expand cross-border commerce opportunities for the Georgian market.”
