Visa strengthens use of Hyperledger Fabric as a B2B payment system
In order to continue deepening a better service for Visa customers, B2B Connect international payments platform continues to improve the platform
The global giant of credit and debit cards Visa deepens the improvement of its services in conjunction with the blockchain technology platform Hyperledger Fabric, who has worked to perfect a B2B payment system in the first half of the year 2019.
As it is known, the payment methodology consists of storing information related to the participants in the transaction through a B2B Connect token and to avoid fraud an ID is assigned that allows to significantly streamline operations. The payments made through this modality travel directly between the issuing bank and the recipient of the funds, avoiding the controls and intermediaries that have historically increased the costs of such transactions.
Boost financial transactions
In a press article, Visa referred to the inclusion of Hyperledger Fabric as a technology willing to greatly improve the processing of financial transactions, by using the private, secure and reliable network of B2B Connect companies will enjoy an international payment service without frictions, transparent and with an operational capacity according to the volumes that Visa usually processes.
From the beginning of the project, the general director of IBM blockchain services, Jason Kelley, highlighted the added value that both his company’s blockchain platform and the Hyperledger set of initiatives bring to the business the dynamics of cuttent times.
K.Villarroel
With information from Agencies
