Visa and Ouribank launch solution to facilitate B2B transactions abroad

‍Visa, the world leader in digital payments, and Ouribank, the bank that opens the world, have joined forces in a partnership with the purpose of simplifying international financial transactions in the B2B segment. Through the Visa Direct network, the bank will now offer its client portfolio a solution aimed at paying high amounts abroad in a fast, secure and 100% digital manner. With this, companies that carry out transactions in other countries, such as those linked to the foreign trade, service goods and fintechs sectors, for example, can reduce bureaucracy and the time required to process and clear invoices, thus making their business agile.

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International financial flows are of vital importance to the global economy and are expected to reach US$ 250 trillion a year by 2027, according to the World Bank. However, such processes may take days or even weeks, in addition to, in some cases, involving several steps, compromising companies that seek agility in the purchase of products necessary for their operation or in the payment for transnational services. Now, through Visa Direct technology, one of the largest networks that facilitate digital transactions on a global scale, connecting individuals and organizations in various countries through a technological infrastructure with a global reach, Ouribank will be able to broker such transactions from its clients starting in the first quarter of 2024.

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“At Visa, we work to be the network of networks, a universal hub that allows any transaction to begin on one network and end on another, making the connection to add a series of services in the process. International remittances between companies are a flow of funds that do not always find the speed compatible with the digital age, since such payments often have to go through less agile compensation phases. With the Visa Direct structure, Ouribank's client companies will be able to accelerate such flows with lower cost, more security and convenience, thus freeing up a potential turnover of trillions of dollars,” says Fernando Amaral, Vice President of Solutions and Innovation at Visa in Brazil.

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“We noticed the gap in the market when it comes to a specific financial solution for high-value international transactions, especially in sectors such as foreign trade or for companies. As we say here at Ouribank, we are a bank that opens up the world. This partnership with Visa is intended to reinforce our commitment to expanding financial solution options for clients, offering agility and security in operations, and especially, bringing innovation, security and efficiency to the sector”, highlights Bruno Foresti, Director of Treasury at Ouribank.

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According to data from the Foreign Trade Secretariat, between January and November 2023, the Brazilian trade balance reached a surplus of USD 86.51 million, an increase of 57.3% compared to the same period of the previous year, which demonstrates a favorable scenario for business abroad. In this sense, Visa Direct is a solution that can contribute to potentiating this movement, since it allows clients and partners to capture new flows, reaching companies in more than 190 countries and territories. This solution brings more agility, security, and convenience, eliminating red tape and additional fees associated with intermediation processes when sending shipments. The service is available 24 hours a day, every day of the week, including holidays.

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About Visa Inc.

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions, and government entities in more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable, and secure payment network, allowing people, businesses, and economies to thrive. We believe that economies that include all people everywhere improve everyone's lives, and we understand that access is fundamental to the future of money movement. For more information visit Www.visa.com.br or follow our LinkedIn page.

About Ouribank:

With over 40 years in the market, Ouribank is committed to transparency, seriousness and innovation. Ouribank served more than 500 thousand clients and carried out more than 1 million exchange transactions, and in 2023 more than 30 billion dollars were transacted. Ouribank's history is marked by excellence in personalized service, reflecting its commitment to innovate, bring efficiency and exceed customer expectations.

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