Visa (NYSE:V)
Visa stock surged as TD Securities, a division of TD Bank (NYSE:TD), joined the cross-border business-to-business payments network operated by payment giant Visa (NYSE:V) on Thursday. Visa stock made this move in an attempt to make the process of making international payments simpler and more suitable for TD Securities’ corporate customers.
According to the firms, the digital-first capabilities of Visa B2B Connect simplify multinational corporate cross-border payments. This is accomplished by simplifying transactions between the bank of origin and the bank that would ultimately benefit from the funds transferred.
According to Jim Filice, vice president and head of New Payments at Visa Canada, business clients of TD (TD), which is the first Canadian financial institution to join Visa B2B Connect, have the ability to “connect with other businesses across the globe to simplify the way they move money.” TD is the first Canadian financial institution to join Visa B2B Connect.
The payments network offered by Visa (NYSE:V) eventually enhances fee transparency and transaction accuracy and provides assistance to businesses in managing their cash flows and streamlining settlement.
This improves the process of global payments at a time when 70 percent of firms polled from a total of 20 nations indicated systemic challenges with low visibility and inefficiency as pain points associated with cross-border payments. The study was conducted by Visa (NYSE:V).
In 2019, TD Bank and Visa stock launched a money transfer service between the United States and Canada.
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Visa stock rises as the company announces the addition of Toronto-Dominion to its international B2B payments network.
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Author Shariq Khan 
