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Visa and UnionBank introduces blockchain payment system

Zen Estacio January 22, 2018 · 1 min read

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Visa and Unionbank team up to bring in a new payment system in the Philippines in the form of Visa B2B Connect. The new system will make use of blockchain technology, the same technology that cryptocurrencies such as BitCoin use, to speed-up fund transfer processes.

UnionBank 회장인 Justo Ortiz에 따르면, Visa B2B Connect는 일반적인 3-5일 기간에 비해 실시간 또는 24시간 이내에 자금 이체를 가능하게 할 것입니다. 또한, 플랫폼이 정식 출시되면 거래 수수료도 감소할 것으로 예상됩니다. Visa Asia Pacific의 비즈니스 투 비즈니스 파트너십 책임자인 Viktam Kshettry는 결제 플랫폼을 제공하기 위해 23개의 법정 통화와 4개의 파트너 은행을 사용할 것이라고 말했습니다.

The new service is set to come out by the 4th quarter of 2018.

source: ABS-CBN News

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Zen Estacio

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Zen Estacio is a Multimedia Producer for YugaTech. He is the team's laptop guru and one of their resident gamers. He has a monthly column compiling the latest and greatest the Nintendo Switch has to offer. Aside from that, he regularly writes gaming news, reviews, and impressions. You can hit him up at @papanZEN

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