Visa and Goldman Sachs Partner to Modernize Global Money Movement
07 Junho 2021 - 8:00AM
Business Wire
Strategic partnership to transform treasury
operations for Goldman’s clients with Visa B2B Connect and Visa
Direct
Visa (NYSE:V) today announced a global strategic partnership
with Goldman Sachs Transaction Banking to help businesses – large
to small – move money effortlessly around the world.
Through its implementation of Visa B2B Connect and Visa Direct
Payouts solutions, Goldman Sachs will help its commercial and
corporate banking clients simplify complexities and costs
associated with existing systems and inefficient processes. These
solutions will enhance Goldman’s cross-border business-to-business
(B2B) and business-to-consumer (B2C) payments program for high and
low value payments. Goldman Sachs’s corporate clients can move
funds quickly and securely, have near real-time visibility into
their payment status, obtain necessary reconciliation and
compliance data, ultimately helping improve organizations’ cash
flow.
“There is an immediate need for modernization of global money
movement to help businesses around the world simplify and enhance
how they pay and get paid across borders,” said Alan Koenigsberg,
global head of new payment flows, Visa Business Solutions. “Visa’s
partnership with Goldman Sachs Transaction Banking is an important
milestone in our efforts to break down traditional processes and
silos and help spur innovation in this critical industry segment
for the decades to come.”
Goldman Sachs Transaction Banking clients can begin using Visa’s
solutions right away through their existing connections, whether
that be API, file or online web platform.
For high-value cross-border B2B payments, Goldman Sachs will
leverage Visa B2B Connect, a multilateral B2B cross-border payments
network, available in 97 markets globally, to help optimize
payments for its corporate client base. Built from the ground up,
Visa B2B Connect is designed to shorten time spent on cross-border
corporate payments by facilitating transactions from the bank of
origin directly to the beneficiary bank, helping significantly
streamline settlement. The platform helps increase visibility and
predictability into the transaction flow, giving Goldman Sachs
clients an opportunity to track the status of payments from the
originator bank to the destination bank in near real time, while
improving transaction accuracy and simplifying the reconciliation
process.
With Visa Direct Payouts capabilities, Goldman Sachs will bring
push-to-account functionality for lower value, high volume
cross-border Business-to-Small-Business (B2SB) and
Business-to-Consumer (B2C) payouts, eliminating complexities often
associated with businesses having to manage multiple networks and
intermediaries worldwide. Through a single connection to billions
of endpoints in over 90 markets, Visa Direct Payouts expands the
payment options Goldman Sachs can offer to its corporate
clients.
“We believe paying someone halfway around the world
should be just as easy as paying someone around the corner,” said
Eduardo Vergara, global head of Transaction Banking Product and
Sales at Goldman Sachs. “We are proud to partner with Visa to
introduce fast and easy ways our clients can make payments across
the globe.”
Goldman Sachs Transaction Banking clients will benefit from this
partnership in numerous ways:
- One simple workflow for all payment types
- Start using Visa services right away, with no changes to
existing setup
- Additional payout options for high and low value payments
- Fee optimization
- Comprehensive information reporting for easy
reconciliation
Visit Visa Direct Payouts and Visa B2B Connect to learn more how
Visa helps its clients and partners move money globally.
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 digital commerce on any device
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, visa.com/blog and @VisaNews.
About Goldman Sachs
The Goldman Sachs Group, Inc. is a leading global investment
banking, securities and investment management firm that provides a
wide range of financial services to a substantial and diversified
client base that includes corporations, financial institutions,
governments and individuals. Founded in 1869, the firm is
headquartered in New York and maintains offices in all major
financial centers around the world.
About Goldman Sachs Transaction Banking
Goldman Sachs Transaction Banking, through Goldman Sachs Bank
USA, is a modern, digital-first, and cloud-based business helping
clients build the future of their Treasury. The business combines
the strength, heritage, and expertise of a 150-year-old firm with
the agility and entrepreneurial spirit of a tech start-up.
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version on businesswire.com: https://www.businesswire.com/news/home/20210607005119/en/
Visa Aida Hadzibegovic ahadzibe@visa.com Goldman
Sachs Andrew Williams andrew.williams@gs.com
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