In partnership with Visa, Terabank is the first bank in Georgia that has launched the Visa B2B Connect platform and offered business customers the fastest, most flexible and secure international settlement service.
The Visa B2B connect platform enables any Terabank business customer to take advantage of today’s most modern, innovative, non-card-based, bank-to-bank messaging and settlement services in order to make and receive secure and flexible international payments in 107 countries around the world. Visa B2B Connect differs from traditional methods primarily in speed: when using the platform, transactions are reflected in 24-48 hours, depending on the receiving country. Terabank customers can use the service both remotely, through the Internet bank and mobile application, and by visiting any of the branches.
Supporting business customers, especially small and medium businesses, is an important strategic direction for Terabank. In order to develop their activities, the bank is constantly working on offering and improving the highest quality, innovative services and products. The introduction of the Visa B2B Connect platform also confirms the bank’s commitment to this strategy.
“At Terabank, we are always aware of the role that modern, innovative, transparent and flexible financial services can play in the success of our business customers’ activities. We believe that the introduction of the Visa B2B Connect platform will make an important contribution to the realization of this role and, at the same time, will help strengthen not only the financial sphere but also the business sector of the country as a whole. This news once again emphasizes Terabank’s aspiration to offer digital innovations to users and strengthen cooperation with foreign partners,” said Thea Lortkipanidze, CEO of Terabank.
“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.”
About Visa B2B Connect
Visa B2B Connect is an innovative non-card-based multilateral platform delivering B2B cross-border payments that are predictable, secure and cost-effective for financial institutions and their corporate clients. Using a one-to-many connection, Visa B2B Connect helps reduce a number of correspondent transfers required to process a payment. This allows for more cost-effective cross-border transactions and provides both corporate finance institutions and their customers transparent view of fees associated with each transaction helping the companies to manage their cash flows. Visa B2B Connect allows payments to be also made to the banks which haven’t joined the platform yet.
To learn more about Visa B2B Connect and how to join the platform, please visit www.visa.com/visab2bconnect
Visa (NYSE: V) is a world leader in digital payments, facilitating payments transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at visa.com.ge
Terabank has occupied an important position in the Georgian financial sector since 1999. Its mission is to help entrepreneurs, their employees and their customers solve their business and personal financial problems with exceptional and individualized services.