Visa Readies B2B Connect for Market

Visa’s Distributed Ledger Platform Provides Groundbreaking “Digital
Identity” for Clients;

IBM and Bottomline Technologies Announced as New Partners for
Commercial Launch

SYDNEY–(BUSINESS WIRE)–Visa Inc. (NYSE:V) today announced new product details surrounding
digital identity in preparation for a first quarter 2019 launch of Visa
B2B Connect. This one-of-a-kind distributed ledger-based platform is
designed to give financial institutions a simple, fast and secure way to
process cross border business-to-business payments globally.

“With B2B Connect, we’re developing a new way for businesses to make
cross border, high value payments – fixing broken processes and breaking
down geographic barriers along the way,” said Kevin Phalen, global head,
Visa Business Solutions, Visa. “B2B Connect will facilitate payments for
financial institutions for a variety of industry verticals, including
supply chain, trade, institutional banking and more.”

B2B Connect’s digital identity feature tokenizes an organization’s
sensitive business information, such as banking details and account
numbers, giving them a unique identifier that can be used to facilitate
transactions on the platform. Encompassing safety, security and
governance all in one solution, B2B Connect’s digital identity feature
will transform the way information is exchanged in business-to-business
cross-border transactions.

“B2B Connect’s digital identity greatly reduces the opportunity for
fraud that might otherwise exist with checks, ACH and wire transfers
today, while also helping companies remain compliant as part of the
regulated financial ecosystem,” continues Phalen.

Expanding Partnerships

In preparation for the commercial launch next year, Visa is expanding
partnerships to add additional functionality to the B2B Connect platform.

As part of the B2B Connect platform, Visa is integrating open source
Hyperledger Fabric framework from the Linux Foundation with Visa’s core
assets. This will help provide an improved process to facilitate
financial transactions on a scalable, permissioned network. The work
between Visa and IBM will enable our mutual financial institutional
clients and ecosystem to maximize the network. Building on a 40-year
relationship between Visa and IBM, this is a natural progression that
highlights both companies’ commitment to ensuring a frictionless
cross-border payment experience with the utmost security, trust and
transparency.

“When industry leaders in payments and in financial services technology
work together using open source technology, the entire business
landscape stands to benefit,” said Jason Kelley, general manager, IBM
Blockchain Services. “IBM Blockchain Platform and Hyperledger technology
are delivering real business value today and B2B Connect is one of the
most powerful examples to date of how blockchain is transforming
payments.”

Bottomline Technologies, a leading provider of financial technology that
helps make complex business payments simple, smart and secure, is
working with Visa to be the first partner to integrate its solution with
B2B Connect.

With the integration, Bottomline’s financial institutions who
participate in B2B Connect can gain easy access to the B2B Connect
platform, without requiring complex technology updates.

“Bottomline serves 1,200 financial institutions globally, and they are
always looking to us to provide them with value-add innovations that
simplify processes and increase efficiencies,” said Rob Eberle,
President & CEO, Bottomline Technologies. ”We’re thrilled to work with
Visa on this integration to enable our mutual financial institution
clients to easily access the B2B Connect platform.”

About Visa B2B Connect

With security, interoperability and governance at the core of every B2B
Connect transaction, Visa aims to remove friction and time spent on
cross-border corporate transactions by sending these transactions
through B2B Connect from the bank of origin directly to the beneficiary
bank.

To learn more about B2B Connect, please contact the team at VisaB2BConnect@visa.com.

About Visa Inc.

Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our
mission is to connect the world through the most innovative, reliable
and secure payment network – enabling individuals, businesses and
economies to thrive. Our advanced global processing network, VisaNet,
provides secure and reliable payments around the world, and is capable
of handling more than 65,000 transaction messages a second. The
company’s relentless focus on innovation is a catalyst for the rapid
growth of connected commerce on any device, and a driving force behind
the dream of a cashless future for everyone, everywhere. As the world
moves from analog to digital, Visa is applying our brand, products,
people, network and scale to reshape the future of commerce. For more
information, visit About
Visa
, https://usa.visa.com/visa-everywhere/blog.html
and @VisaNews.

Contacts

Visa Inc.
Aida Hadzibegovic, 415-805-4242
ahadzibe@visa.com

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