TD Securities Connects with Visa's B2B Payments Network

​Canada-based TD Securities recently became the first financial organization in the country to be a part of the international business-to-business (B2B) payments network known as Visa B2B Connect.

According to data conducted by Visa, the payments sector stands to gain $10 trillion through cross-border money transfers. The poll of organizations from 20 different nations found that over 70% of them reported systematic problems with low visibility and inefficiency as their top two pain factors.

B2B Connect, Visa's response, aims to make multinational corporate cross-border payments simpler by simplifying transactions from the bank of origin to the bank of the beneficiary.

Visa B2B Connect claims that it makes cross-border transactions easier and more cost-effective by boosting fee transparency, transaction accuracy, and helping businesses manage their cash flows. This is done by increasing the visibility and predictability of the transaction flow.

"This collaboration is part of TD's ongoing commitment to delivering innovative payment solutions to our corporate clients, along with seamless client experiences that make doing business internationally, faster with more end-to-end transparency and predictability," commented Akhil Lamba, executive MD, head of global transaction banking at TD Securities.