Legacy bilateral network
Diagram uses icons in Visa gold and blue colours to depict an illustration of a generic cross-border payment transaction being made on a legacy bilateral network, in which an originator business sends funds to a beneficiary business in another country via a series of banks connected by the legacy bilateral network.
The diagram presents a sequence of labelled business and bank icons connected by dotted lines in a downward left-right-left, zig-zag configuration, to illustrate transaction flow.
The transaction flows as follows: Originator business issues a transaction through its Originating Bank, which sends transaction instructions to a Domestic Correspondent Bank, which in turn passes those instructions to an Intermediary bank, followed by a Foreign Correspondent Bank, before reaching the Beneficiary Bank and being credited to the account belonging to the Beneficiary Business.
Visa B2B Connect multilateral network
Diagram uses icons in Visa gold and blue colours to depict an illustration of a generic cross-border payment transaction in which a payment can be transmitted between the originator bank and any participating banks connected to the Visa B2B Connect network without passing through multiple intermediary banks.
The diagram presents a circle surrounding the Visa B2B Connect network symbol. Along this circle’s perimeter are a number of bank icons presented around the upper half of the circle, as well as a larger bank icon at the bottom of the circle, representing the originator bank. All banks around the circle are connected to the Visa B2B Connect network symbol with bi-directional arrows, representing the multilateral nature of the network.