23 November 2020
- As part of this agreement, customers will have access to payment processing and payment method solutions and the latest innovative products that VISA is launching on the Spanish market
- Thanks to this direct connection to VisaNet through Cecabank, customers will enjoy all the solidity, innovation and security of the Visa network
- This is how Cecabank strengthens its B2B position as a trusted payment provider
Cecabank, a wholesale bank specialised in Securities Services, Treasury Management, Payments and Digital Solutions, and Visa (NYSE: V), a leading technology company in digital payments, have today announced a long-term strategic partnership. This alliance will extend to Spain and the rest of Southern Europe. This will enable banks and fintech companies to process all or part of their transactions through the Visa network (VisaNet). They will also be able to have quick and direct access to Visa products and innovation.
VisaNet is the world's leading electronic payment network, with the capability and solidity to process 65,000 transaction messages per second. It provides consumers, businesses and governments with the best way to pay and be paid.
Cecabank offers flexible and innovative solutions for processing card, e-commerce and mobile payments. These transactions are backed by upwards of 30 years of experience. Its status as a bank guarantees the highest standards of security and regulatory compliance. It also processes more than 858 million transactions, totalling around 120 million euros settled every day. All of this comes with a 99.997% service availability.
A crucial time for digital payments
This agreement comes at a crucial time for digital payments in Spain. The definitive impact of e-commerce, driven by changes in consumer habits brought about by COVID-19, has accelerated the growth of online purchases in around twenty European countries. This represents, on average, a year-on-year increase of 25% in June 2020. As a result, the demand by the entire payment ecosystem for access to innovative, agile and secure payment solutions has increased. The strategic partnership between Visa and Cecabank seeks to respond to this need, strengthening and ensuring that these payments can take place at any time and from anywhere. They also manage to adapt to local circumstances to facilitate the success of this initiative.
Carmen Alonso, Head of Business Development of Visa for Southern Europe, states: "As a company that is characterized by its open network, our objective is to continue working with the entire ecosystem and to collaborate with key players such as Cecabank to promote the innovation of digital payments. This partnership allows us to bring innovative solutions to banking and fintech companies, offering the capabilities of our network and the global solutions adapted to the Spanish market".
In the opinion of Juan José Gutiérrez, Corporate Director of Technology Services at Cecabank: "We are proud that a global entity like Visa would choose Cecabank for an agreement of this type. We believe this is the result of the quality and availability of the service we offer and the flexibility we have demonstrated over the years by adapting our solutions to the particular needs and challenges of each customer. Through this strategic partnership, Cecabank strengthens its position as a B2B specialist provider. It will be the first to be able to offer its customers new value-added solutions in digital payments."
