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
LTM Launches BlueVerse™ RightLogic to Address Cyber Risk in AI Era6.7.2026 12:12:00 EEST | Press release
LTM, the Business Creativity partner to the world’s largest enterprises, has launched BlueVerse™ RightLogic, a cybersecurity assessment and risk assurance framework designed to help enterprises identify, assess and remediate cyber exposure as they accelerate AI adoption. AI is now capable of autonomously identifying and exploiting vulnerabilities, while exposure across infrastructure, applications and supply chains continue to expand. This has elevated cyber risk from a technology concern to a board-level priority, with enterprises struggling to maintain visibility and respond at the speed of emerging threats. BlueVerse RightLogic addresses this gap by providing a unified, business-aligned view of enterprise exposure and enabling a shift from fragmented, point-in-time assessments to continuous, evidence-led risk management. The framework combines an end-to-end AI and cyber exposure assessment engine with a structured execution model that spans from assessment to remediation. At the cor
Media Release: Financial Worries Rise and Match Health Concerns as Cost-of-Living Pressures Mount in 20266.7.2026 11:00:00 EEST | Press release
Households around the world are feeling the strain of the rising cost of living, with financial pressure increasingly shaping everyday choices and long-term confidence. Finances and health are now tied as the top global worries, at 48% each, followed by concerns about the future at 35%, according to consumer surveys in 10 countries published in “The Allianz 3am Report 2026.” This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260703907741/en/ Allianz / IPSOS “What Worries the World” Study, April – June 2026. Financial worries, which include concerns about “rising cost of living” (71%) and “insufficient income” (51%), increased in seven out of eight countries surveyed year over year, moving up in the ranking of top three worries in Brazil, France, Germany, and the U.K., while remaining stable in Italy. The strongest increases are observed in Australia and Indonesia, where financial concerns have remained the leading worry, as well
HAZAMA ANDO Becomes an Official Partner in Helical Fusion’s Commercial Fusion Initiative and Signs MoU Toward Construction of the Fusion Pilot Plant6.7.2026 09:40:00 EEST | Press release
Helical Fusion Co., Ltd. (“Helical Fusion”), a Japan-based fusion energy startup developing fusion power plants, and HAZAMA ANDO CORPORATION (“HAZAMA ANDO”), a long-established Japanese general contractor, today announced that HAZAMA ANDO has become an Official Partner in the Helix Program, Helical Fusion’s commercial fusion initiative. The two companies have also signed a memorandum of understanding (“MoU”) to collaborate toward the construction of Helix KANATA, Helical Fusion’s Fusion Pilot Plant targeted for the 2030s. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260706176052/en/ (L-R) Kazuhiko Kuniya (Representative Director and President, HAZAMA ANDO CORPORATION) and Takaya Taguchi (Co-Founder and CEO, Helical Fusion Co., Ltd.) at a press conference in Tokyo on July 6, 2026. Fusion energy has the potential to shift the foundation of energy from natural resources to advanced technology by reproducing, on Earth, the sam
Sofinnova Partners Announces Myricx Bio Agrees to Be Acquired by Novartis6.7.2026 08:15:00 EEST | Press release
Sofinnova Partners, a leading European life sciences venture capital firm, today announced that its portfolio company Myricx Bio (“Myricx”) has reached agreement to be acquired by Novartis, for up to $1.5 billion including $1.1 billion cash upfront plus potential milestone payments. This marks Sofinnova Partners' seventh exit in three years. Myricx Bio is a UK-headquartered transatlantic biotech company focused on the discovery and development of a novel class of payloads for antibody-drug conjugates. The company's platform is built around next-generation N-myristoyltransferase inhibitor (NMTi) payloads, a differentiated mechanism of action designed to address the narrow therapeutic windows and tolerability challenges that have limited earlier generations of ADCs, such as TOPO-1 and tubulin inhibitor payload classes. Myricx Bio's two lead ADC assets, directed towards the established targets B7-H3 and HER2, are designed to bring this differentiated approach to patients across a broad ra
Global New Material International Wins Technology Innovation Best Practice Award at Sino-European ESG Conference6.7.2026 06:59:00 EEST | Press release
Global New Material International Holdings Ltd. has received the Technology Innovation Best Practice Award at the Third Sino-European Corporate ESG Best Practice Conference recently in Mainz, Germany, in recognition of its efforts to advance sustainable development through material innovation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260705533555/en/ Thorsten Giehler (L), Director of the Economic, Social Development and Employment Division of The German Society for International Cooperation (GIZ), delivered the award to Zhou Fangchao, Executive Director and Vice President of Global New Material International. The annual conference, initiated by the Chinese Consulate General in Frankfurt and jointly organized with Chinese and European partners, recognizes corporate best practices in environmental, social and governance (ESG) performance. This year's event brought together government officials, business leaders and exper
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