Visa launches B2B Connect blockchain payment system

Visa in the blockchain

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The payment company that we all know and love, Visa has finally announced that it’s launching a blockchain payment platform called B2B connect.

The company has been hard at work, developing the project for a number of years as rumors about the innovation first spread as early as 2016 when cryptos were preparing for a massive jump a year ahead.

The company’s representative, Kevin Phalen has mentioned that B2B Connect is a solution for the delayed payment processing systems in the current financial industry. By implementing the blockchain, Visa will facilitate instant transactions while also recording them on a ledger if needs be.

Currently, the payment method is designed for corporate clients, but its performance within a month or two of testing time will determine if Visa will launch it on the retail level as well. Having such a massive corporation participate in the blockchain industry guarantees better coverage and participation in crypto transactions as a whole.

Despite the testing time, which is usually a quarter, Visa has already made promises that it will be expanding in at least 90 countries by the end of 2019, but what countries will receive the payment options is yet to be known.

Judging from the number, it’s safe to say that if you’re reading this, you’re probably getting the platform, if they introduce a retail version that is.

The retail market will come in the form of banks, which directly contradicts some of the most popular crypto companies like Ripple, which is trying to conquer the market as fast as possible. It may be for this very reason that Ripple has been fast at work expanding in South America.

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Giorgi Mikhelidze

Georgian-born blockchain enthusiast Giorgi leverages his software development background for on point market commentary and analysis. A brief stint with Finance Makers and he's now covering crypto news for high authority websites with the tip learned from past experience, "Whenever you see people talking about the weakness of your idea, don't see it as criticism."

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