In what case can the receiving party reject the transaction?

The receiving party may reject the transaction until the funds are credited to the receiving commercial customer's account (ie, before the end of business hours) when the funds are received from Visa. The receiving party that rejects the transaction must return the funds to Visa for the said transaction by the end of the business day on which the funds were received from Visa. The receiving party that rejects the transaction must reimburse Visa for any losses incurred in connection with the cancellation.

Why did the payment get cancelled?

Payment cancellation is carried out under one of the following conditions: Incorrect transaction amount or payment sent to the wrong organization. The payment data for the transaction was incorrect. The specified transaction duplicated another transaction or payment. The transaction occurred because of fraudulent activity. The transaction occurred by mistake. Visa will cease all actions related to the transaction and halt its processing if a payment cancellation request is received prior to the completion of the transaction or payment. If Visa receives a cancellation request when the transaction has already been completed or paid, then Visa will send a cancellation request to the receiving party, which must confirm or cancel the payment cancellation request within 5 business days.

Visa B2B Connect – Global payments through a single connection

Visa B2B Connect's multilateral network delivers B2B cross-border payments that are predictable, secure and cost-effective for financial institutions and their corporate clients.

Provide your customers with improved international business practices with an innovative network designed to enable participating financial institutions and their business customers to make global business payments that are streamlined, secure and predictable.

Enhanced customer experience

Finality

Irrevocable payments delivered in full value to the beneficiary bank every time

Predictability

Know exactly when the funds will be delivered

Transparency

Clarity and certainty when it comes to fees and FX rates

Reduced cost

One connection

A single connection to a global network with no intermediary fees

Ready for use

Different options for implementation can mean reduced upfront infrastructure investment

Optimisation

Efficiently manage liquidity and reduce dependency on correspondent relationships, which can reduce operational overheads

Security and efficiency

Layered safety

The network is made up of known participants for enhanced payment security

Protection

Visa B2B Connect’s digital identity feature tokenises an organisation’s sensitive business information giving them a unique identifier

Rich data

Direct messaging within the network facilitates efficient case resolution

Innovation and optionality

Complementary

You can choose to complement your other payment services with Visa B2B Connect

Choice

You have the options to use your own or Visa’s FX rates for foreign currency payments

Note: Benefits applicable to transactions between Visa B2B Connect participants. Transactions to banks outside of the network are also available.

Reliable innovative technology

A restricted-access network managed by Visa
To become a member of the network, you must follow the rules established in it.

No cryptocurrencies
The only electronic assets are bank-issued payment instructions approved by Visa.

Developed on a commercial scale
A highly available network designed to handle thousands of transactions per second.

Predictability and real-time visibility

Improve visibility into real-time transaction status by reducing the number of transfers in the payment chain.

Transparency and completeness of payment

Transparent network information with the final completion of payments.

Transaction data consistency

Consistent data ensures seamless transactions for financial institutions and their business customers with simplified reconciliation.

Digital identification

Unique digital identities mark sensitive business data and reduce the chance of fraud.

Operational compatibility

The Visa B2B Connect system is able to work with legacy systems.

Multilateral network

Streamlines and transforms the payment path by offering global access, peer-to-peer exchanges, and multilateral netting of large payments.

Get connected

To learn more about Visa B2B Connect and how it can benefit your financial institution and your corporate clients, contact one of our Account Executives.

FAQ about Visa B2B Connect

: The receiving party may reject the transaction until the funds are credited to the receiving commercial customer's account (ie, before the end of business hours) when the funds are received from Visa.

The receiving party that rejects the transaction must return the funds to Visa for the said transaction by the end of the business day on which the funds were received from Visa.

The receiving party that rejects the transaction must reimburse Visa for any losses incurred in connection with the cancellation.
: Payment cancellation is carried out under one of the following conditions:

Incorrect transaction amount or payment sent to the wrong organization.

The payment data for the transaction was incorrect.

The specified transaction duplicated another transaction or payment.

The transaction occurred because of fraudulent activity.

The transaction occurred by mistake.

Visa will cease all actions related to the transaction and halt its processing if a payment cancellation request is received prior to the completion of the transaction or payment.

If Visa receives a cancellation request when the transaction has already been completed or paid, then Visa will send a cancellation request to the receiving party, which must confirm or cancel the payment cancellation request within 5 business days.