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Bahamas-based Deltec Bank has joined Visa’s B2B cross-border payment network, Visa B2B Connect, to streamline international transactions for its corporate and institutional clients.
The partnership, announced in a June 28 press release, will leverage Visa’s extensive global network to enable faster and more secure cross-border payments. Deltec Bank’s clients will benefit from near real-time visibility into payment statuses and access to essential reconciliation and compliance data.
“As entrepreneurs and enterprises strive to expand their global footprints, they truly value partners that offer simple and highly secure cross-border transactions, along with solutions that help to improve their operational efficiencies,” said Odetta Morton, CEO of Deltec Bank. “We are proud to partner with Visa in removing hurdles that have previously existed in the payment journey, while providing a seamless and secure payments process for today’s global enterprises.”
Visa B2B Connect is available in 118 countries across six continents, enhancing efficiencies, transparency, and reducing the complexity of cross-border transactions. This platform facilitates direct transactions between the originating and beneficiary banks, simplifying international corporate payments.
“This solution provides financial institutions and their corporate clients with cross-border B2B transactions that are predictable, secure, and effective,” said Frank Gandarillas, general manager for the Caribbean at Visa. “We aim to continue expanding the ecosystem with innovative solutions that create opportunities for partnering, as we have done with Deltec, to invigorate the way of moving cross-border funds.”
Recently, NetXD expanded its partnership with Visa B2B Connect in May, allowing it to onboard banks in Asia, in addition to those in Europe and the Americas. In February 2023, Freedom Finance Bank Kazakhstan JSC partnered with Visa to deploy Visa B2B Connect, marking the first launch of the service in Central Asia, facilitating cross-border payments from Kazakhstan.
This collaboration with Visa B2B Connect represents a significant step for Deltec Bank in enhancing the efficiency and security of international payments for its clients, aligning with the bank’s commitment to providing innovative financial solutions.
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