The goal of this partnership is to improve the payment capabilities of Tietoevry's customer financial institutions by integrating Visa B2B Connect into the Tietoevry Payment Hub. For international transactions, Visa B2B Connect is renowned for providing corporate clients with quicker, more affordable, and clearer payment solutions.

The necessity to address long-standing problems with cross-border payments for businesses is what motivated Tietoevry Banking and Visa Direct to collaborate. These transactions have historically been beset by issues including exorbitant fees, protracted processing periods, and a lack of transparency, especially when handling payments in uncommon or exotic currencies.

As a pioneer in financial technology, Tietoevry Banking offers a strong platform that enables banks to offer smooth payment processes. By providing scalable and secure payment processing solutions, the company's Payment Hub aims to handle the complexity of contemporary financial transactions. Conversely, Visa Direct is well known for its capacity to expedite international payments and provides solutions that improve the effectiveness and security of business dealings.

It is anticipated that business clients, especially SMEs, will gain a great deal from this strategic alliance. Through the integration of Visa B2B Connect, Tietoevry Banking will provide an API-based solution that guarantees minimal customer investment while simultaneously speeding up time-to-market. Many of the issues with conventional B2B payments will be resolved by this integration, which offers end-to-end fund visibility, quicker transaction speeds, predictable prices, and access to optimized liquidity pools.

Along with the alliance's primary characteristics, the partnership also shows a dedication to updating the cross-border payment infrastructure. Both Visa and Tietoevry Banking want to make financial transactions throughout Europe easier and more dependable by utilizing state-of-the-art technology and all-inclusive payment options.

Head of Payment Products and Services at Tietoevry Banking "We are happy to provide our clients with this appealing payment option for their corporate clients within our Payments-as-a-Service (PaaS)," stated Jarkko Turunen. When it comes to paying other businesses across borders, companies of all sizes—SMEs in particular—have long suffered with high prices, complexity, and a lack of transparency. Our clients now have access to an API-based solution that speeds up time-to-market with little extra cost thanks to the integration of Visa B2B Connect. Consequently, their corporate clients will have access to optimized liquidity pools, quicker and more secure transactions, end-to-end fund visibility, and predictable pricing.

Vice President of Revenue & Growth, Europe, Visa Direct "Visa is dedicated to modernizing cross-border payments globally," Anastasia Serikova continued. Our partnership with Tietoevry Banking, which we are announcing today, will enable other European banks to begin transacting on our network, providing their clients with quicker and more transparent payments. Visa B2B Connect lowers expenses for a quick and safe international money transfer by streamlining and expediting transactions for banks and their customers.