Monday 24 February, 2020

Scotia, Visa partnership to bring digital payment solutions

A seven-year agreement between Scotiabank and Visa will support the development of innovative payment solutions and enhancing the customer experience for Visa cardholders in Central America and the Caribbean. 

In a statement announcing the partnership, Scotiabank said the relationship will leverage Visa’s technology solutions and know-how to support the bank’s digital transformation across different markets in Central America and the Caribbean.

Through the relationship with Visa, the Bank will deliver digital payment products and strategies with leading security infrastructure to support its customers’ needs in the region.

Bhavna Kaushal, VP Strategic Partnerships and Self-Service Banking at Scotiabank said digital technology creates opportunities to deliver the best value for customers with security, trust and convenience.

Brendan King, Senior Vice President for International Banking at Scotiabank added that the alliance with Visa in Central America and the Caribbean will reinforce the bank’s progress in “becoming digital leaders and providing market leading payment solutions for our clients.”

The agreement between Visa and Scotiabank includes support to accelerate the growth of contactless technology and other Visa services tailored to the digital transformation needs and roadmap of each participating market of Scotiabank in Central America and the Caribbean.

Franz Strohmeier, Vice President of Multinational Banks for Visa Latin America and the Caribbean believes the new partnership will enhance the customer experience.

“Scotiabank’s portfolio value offer will be enriched by Visa’s technology, from tokenisation to e-commerce solutions. We celebrate this new initiative to accelerate both companies’ business results. We will work alongside Scotiabank, to create next-generation payment solutions, which will offer a renewed, frictionless, and secure experience for its cardholders.”  

This enhanced relationship is expected to contribute to consolidating Scotiabank’s position in Central America and the Caribbean, together with Visa’s digital payments role across the region.

Further, these advancements are expected to provide best-in-class consumer experiences that make paying in person or online, fast, easy and secure. 

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