2024-02-09 22:55:34
Source: Trend International Information Agency
Visa is actively working on the next stage of development of the international payments system in Azerbaijan.
Christina Dorosh, vice president and regional manager of Visa in Central Asia and Azerbaijan, announced this in an interview with Trend, Day.Az reports.
“The B2B Connect project became significant for the country, since it was the first launch in the regions of Central and Eastern Europe, the Middle East and Africa. The experience of Kapital Bank, which launched the product first, turned out to be very interesting for other participants in the banking system of Azerbaijan. As a result, at this time “In Azerbaijan alone, we already have seven banks that have launched this platform, and there are more banks that are working on it. In addition to existing payment solutions, we are actively working on the next stage of development of the international payment system,” she said.
According to Christina Dorosh, Visa has already implemented the first part – it has implemented the B2B Connect platform, which serves payments for legal entities, mainly for medium and large companies.
“As a rule, companies make these payments for relatively large amounts. At the same time, we understand that there is a huge need for international payments not only from legal entities, but also from individuals. Individuals can also transfer money to friends, colleagues, acquaintances, and children and family abroad, as well as doing business,” she emphasized.
Christina Dorosh also noted that in order to make the solution for cross-border transfers comprehensive and complete, Visa is working on implementing the Visa Direct to Account (VDA) solution.
“This is the ability to transfer funds to accounts abroad, not even necessarily to a card, but simply to accounts. For almost any purpose of transferring money abroad, Visa provides a convenient, safe and fast solution. For legal entities there is B2B Connect, for those who transfer from cards to cards, there is a Visa Direct platform that allows you to make transfers to a card number. The third direction is transfer from card to accounts. A fourth direction is also in development – from cards to wallets. All these services together create a full-fledged platform for international translations,” she concluded.
Subscribe to our WhatsApp channel and stay up to date with the main news!