The global financial payments firm VISA just announced that it has partnered up with major banking institution Goldman Sachs. The end goal of this strategic partnership is to create an effortless transaction environment for money coming from all over the world.
A press release following the announcement revealed that Visa is now, more specifically, collaborating with Goldman Sachs Transaction Banking, in order to transform the bank’s clients’ treasury operations through Visa B2B Connet and Visa Direct.
The Global Head of New Payment Flows at Visa Business Solutions, Alan Koenigsberg, commented that a modernization of global money transactions is inevitable. The introduction of a cross-border service will enhance payments and as well as simplify them. He went on by stating that,
“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.”
Visa mentioned that these new services will be supporting commercial as well as corporate clients of Goldman Sachs, allowing for cross-border monetary transactions. Moreover, a new simple workflow will be introduced as a result of the partnership, as well as supplementary payout options for all sorts of transactions.
Meanwhile, in January of this year, VISA revealed that it had partnered up with TransferWise, with the goal of supporting multi-currency debit cards in different global regions, including the US, Europe, the UK, and the Middle East.