Mozrt and Visa B2B Connect Partner to Empower Financial Institutions With Cutting-Edge Technology for Cross-Border B2B Payments
Through this strategic partnership, Mozrt will enable financial institutions to efficiently utilize Visa B2B Connect's network capabilities with minimal effort.
MINNEAPOLIS, June 15, 2023 /PRNewswire-PRWeb/ -- Mozrt, a leading fintech company, announces its groundbreaking partnership with Visa, a world leader in digital payments, to implement Visa B2B Connect, Visa's multilateral B2B cross-border payments network designed to facilitate transactions from an originating financial institution directly to the beneficiary financial institution. This collaboration advances the financial technology landscape by connecting Visa's advanced capabilities with financial institutions unlocking new possibilities for seamless transactions and enhanced customer experiences.
For financial institutions integrated to Visa B2B Connect, Mozrt acts as a technology partner, enabling financial institutions to leverage Visa's cutting-edge technology and services. As a bridge between Visa and financial institutions in the Mozrt network, Mozrt facilitates intelligent routing and simplifies cross-border B2B payments for businesses and corporations.
Through this strategic partnership, Mozrt will enable financial institutions to efficiently utilize Visa B2B Connect's network capabilities with minimal effort. This partnership extends beyond the financial institutions themselves, delivering Visa B2B Connect's solutions to the financial institutions broader network of clients through modern digital channels. By implementing smart routing technology, Mozrt simplifies complex processes, helping reduce manual interventions while working with Visa to enable fast, secure, and cost-effective experiences. Available in over 100 countries and territories, Visa B2B Connect helps combat money-movement pain points including lack of payment visibility, predictability, and unforeseen costs.
"In the realm of cross-border transactions, banks often default to traditional, time-consuming methods due to their familiarity with them, resulting in inefficiency, higher costs, and a lack of technological advancement," states Mozrt CEO Jeff Althaus.
"By connecting Visa's robust capabilities with a network of financial institutions, Mozrt creates a powerful harmonization that benefits both financial institutions and their clients."
This collaborative approach will give financial institutions and their commercial clients the peace of mind that their cross-border payments are delivered with finality, data transparency, and predictability, all while empowering financial institutions to access Visa's cutting-edge capabilities effortlessly.
"Commerce today has no geographic boundaries, many businesses have cross-border payment pain points -- including payment predictability, value clarity, and visibility -- its clear many companies continue to face money movement challenges that can ultimately hurt their bottom lines," said Ben Ellis, Global Head, Visa B2B Connect. "Through offerings like Visa B2B Connect and collaborations like this one with Mozrt, we're excited to bring streamlined and cost-effective cross-border payments to more financial institutions around the world."
About Mozrt:
Mozrt is a compliance-first payments technology platform that empowers banks, credit unions, and fintechs to seamlessly transform their payment and FX processes, increase customer satisfaction, and unleash new revenue opportunities. Supporting domestic and international payments, virtual accounts, and embedded compliance workflows, Mozrt is one of the most forward-thinking global payments companies currently on the market, providing a dynamic connectivity engine for modern banks and secure banking solutions for contemporary clients.
For more information about Mozrt and its comprehensive banking solutions, please visit www.mozrt.com. To learn more about Visa B2B Connect and its innovative payment technologies, please visit usa.visa.com/partner-with-us/payment-technology/visa-b2b-connect.html
Media Contact
Nick Althaus, Mozrt, 1 3202911500, [email protected], www.mozrt.com
SOURCE Mozrt
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