Blockchain News
UnionBank
Will Help Visa
Implement Its
Blockchain-Based
B2B Payment
UnionBank Will Use Visa’s
Blockchain-Based
Payment
System
The Philippines News Agency has reported
that five of the country’s banks will be
teaming up to use Visa’s blockchain-based
payment system. According to the local news
agency, the Union Bank of the Philippines
(UnionBank) will help four other rural banks
in utilizing Visa’s business-to-business (B2B)
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Core Magazine
Connect system. The banks, which have not
been named, intend to make their payment
processes more efficient by using this new
payments technology. Although this type
of payments infrastructure has been tested
out in other countries, the publicly-listed
UnionBank happens to be the first bank in
the Philippines to use B2B Connect.
Henry Rhoel R. Aguda, Senior Executive