Visa and Goldman Sachs Partner to Modernize Global Money Movement
7.6.2021 14:00:00 EEST | Business Wire | Press release
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.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210607005119/en/
Contact information
Visa
Aida Hadzibegovic
ahadzibe@visa.com
Goldman Sachs
Andrew Williams
andrew.williams@gs.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Klarna Reaches 55 Million Monthly App Users as Usage Surges 53% Year Over Year25.2.2026 15:00:00 EET | Press release
Klarna, the global digital bank and flexible payments provider, is seeing a sharp rise in both monthly and daily app usage, as more consumers use the global digital bank’s services as part of their everyday money management. The Klarna app now reaches more than 55 million monthly active users globally, with 9 million people using the app on a daily basis. Daily engagement has increased by approximately 53% compared with last year, highlighting increasingly frequent use of Klarna’s banking, spending and shopping services. Sebastian Siemiatkowski, CEO and co-founder of Klarna: “When people use Klarna every day, it shows we’re delivering on our vision of becoming the global digital bank for the next generation. Consumers are using the app to stay on top of their spending and manage their money, which is exactly how we see Klarna evolving into an everyday money management app people rely on in daily life.” The massive app growth follows Klarna’s recent launches including a debit card, memb
Tecnotree Wins in Two Categories at Asian Telecom Awards 202625.2.2026 13:20:00 EET | Press release
Tecnotree, a global leader in AI-native digital business support systems for telecom operators, today announced it has won AI Initiative of the Year – United Arab Emirates and Digital Initiative of the Year – United Arab Emirates at the 2026 Asian Telecom Awards. Winning alongside Singtel, Mobicom, Telkomsel, MyRepublic, Telecom Malaysia, Ooredoo Kuwait, E& and many more reinforces Tecnotree’s industry-leading innovations in AI-powered customer engagement and digital experience platforms. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260225387227/en/ Tecnotree Wins in Two Categories at Asian Telecom Awards 2026 The awards recognise Tecnotree’s AI-powered Moments Engagement and Experience Management platform and the MVNE/MVNO CX Catalyst Initiative, two distinct but complementary capabilities that together demonstrate what it means to be a truly AI-native, TM Forum ODA-aligned operator platform. AI Initiative of the Year: Mo
Darktrace Selects Navan to Modernise Travel Program25.2.2026 11:00:00 EET | Press release
Navan (NASDAQ: NAVN), the global AI-powered business travel and expense platform, today announced it has been selected by Darktrace, a global leader in AI for cybersecurity, to upgrade its global travel program. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260225522665/en/ Darktrace Selects Navan to Modernise Travel Program “As Darktrace accelerates its expansion, in-person collaboration is critical,” said David Smith, Chief People Officer at Darktrace. “Navan’s inventory and user experience will ensure our teams and customers can easily connect, while we can maintain financial control.” As the UK-based cybersecurity company grows, Darktrace sought a partner to consolidate its travel operations, minimize administrative burden, and improve the booking experience for its workforce. Previously hampered by fragmented processes, Darktrace required a solution that would increase platform adoption and empower its employees to tra
Zuper and Vonage Reimagine Network Connectivity for Skilled Trades with Quality on Demand25.2.2026 10:00:00 EET | Press release
Zuper, the AI operating system for the trades, and Vonage, part of Ericsson, have entered into a Memorandum of Understanding (MoU) to enter into a collaboration to integrate Vonage’s network APIs into the Zuper platform. The collaboration will provide Zuper with early access to Vonage network powered solutions, starting with Quality on Demand (QoD), where mobile network performance can be selectively applied to support critical field workflows, delivering improved latency, reliability, and connected experiences for mobile workforces. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260225852261/en/ QoD is the first advanced network API being integrated¹ and represents one component of a larger vision for mobile networks as a platform that aligns network behaviour with application intent as these capabilities continue to be exposed. The ambition is to provide Zuper with programmable mobile network capabilities, powered by Vonag
AI: The New Insider Threat Facing Organizations25.2.2026 10:00:00 EET | Press release
According to the Thales 2026 Data Threat Report, organizations across various markets including automotive, energy, finance and retail say the rapid pace of AI-driven transformation is now their biggest security challenge. Based on the report’s research, conducted by S&P Global 451 Research, 61% cite AI as their top data security risk. The concern is not only about malicious AI, but about the access it is being granted as it shifts from a tool to a trusted insider. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260225599723/en/ ©Thales As enterprises embed AI into workflows, analytics, customer service, and development pipelines, these systems are being granted broad, automated access to enterprise data, often with fewer controls than those applied to human users in a corporate environment. “Insider risk is no longer just about people. It is also about automated systems that have been trusted too quickly,” says Sebastien Can
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom