Tashkent, Uzbekistan (UzDaily.com) -- Freedom Finance Bank Kazakhstan JSC and the world leader in the digital payment industry Visa announced the first launch of the Visa B2B Connect payment service in Kazakhstan. It allows to make non-card cross-border payments to 107 countries around the world quickly, securely and with lower transaction costs.

The service will be available to Kazakh companies that are serviced by Freedom Bank and make international transfers in foreign currency. Depending on the country, payments are delivered to the recipient’s bank within 24-48 hours, and their security is guaranteed by the technology of tokenization of confidential data.

Freedom Bank adheres to the course of maximum digitalization of its products for both individuals and legal entities. The partnership with Visa is a logical step to continue the digital transformation of banking services, namely, the simplification of international corporate payments and the provision of additional benefits to customers.

“As a bank, we try to offer our customers fast, transparent and secure services. Connecting to the Visa B2B Connect platform will strengthen Kazakhstani business and build an ecosystem of financial services for legal entities. Corporate cross-border payments will definitely contribute to the scaling of digital innovations in the country and will lead to successful business cooperation with foreign partners,” said Aidos Zhumagulov, Advisor to the Chairman of the Board of Directors of Freedom Bank.

To date, the Visa B2B Connect service is actively developing and increasing the number of financial institutions connected to the service. The platform complements the existing payment channels of banks, as it is compatible with other payment systems and services.

“We see great opportunities in providing businesses with convenient technologies for the development of digital payments. Kazakhstan became the first country in Central Asia, where the innovative payment service Visa B2B Connect was launched. This non-card solution for corporate business runs on distributed ledger blockchain technologies. Thanks to our partnership with Freedom Bank, Kazakhstani businesses will be able to make cross-border payments quickly, conveniently and securely, getting closer to their customers. I am sure that the launch of the technology will contribute to the further development of the country’s economy,” emphasizes Kristina Dorosh, Vice President, Visa Regional Manager for Central Asia and Azerbaijan.