Visa Commercial Pay Brings Virtual Card Capabilities to Clients and Partners Worldwide
In collaboration with Conferma Pay,
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(Graphic: Business Wire)
Virtual commercial cards have never been more necessary than today. Remote workers are turning to personal cards to pay for corporate expenses, buyers and suppliers need more efficient ways to pay and get paid, and businesses need immediate visibility into their company spend to improve cash flow and mitigate risk efficiently. Visa Commercial Pay provides comprehensive card-program management capabilities, including on-demand virtual card issuance to employees’ mobile devices via an app, created exclusively by Conferma Pay and
With virtual commercial cards at its core, Visa Commercial Pay features three B2B payment offerings for financial institutions and their corporate customers, including Visa Commercial Pay Mobile app,
Visa Commercial Pay Mobile: a
Visa-branded app, developed exclusively by Conferma Pay and Visafor Visa’s commercial clients, will host digitally-issued Visavirtual commercial cards on employee and contractors’ mobile devices. The app brings businesses enhanced tools and features, helping them better manage and track spend, and lessen the dependency on issuing and mailing physical cards. It gives employees the convenience of using on-demand, virtual Visacards to facilitate their business purchases, whether online purchases or in-store tap to pay capabilities through seamless integration into mobile wallets.
Visa Commercial Pay Travel: a solution that enables businesses to centrally manage their business travel spend, such as air and hotel. The solution seamlessly integrates into business travel reservation processes and delivers enhanced data, full spend visibility and automated expense reconciliation. Employees and contractors who also use the Visa Commercial Pay Mobile app are able to view their reservations and total spend within the app.
Visa Commercial Pay B2B: a platform that combines the capabilities of
Visaand Conferma Pay, to give buyers and suppliers more options to pay and get paid. It provides a range of features to help companies better manage cash flow and capture enhanced data for reconciliation and reporting capabilities. Visa Commercial Pay B2B provides the flexibility for companies to select the optimal solution for them, either a single comprehensive program management platform or a seamlessly-integrated solution into third party procurement platforms.
“Businesses are turning to
“With a new economic environment, the controls to decentralize payments have to be put in place and with employees working from home, the ability to monitor, reconcile and approve spend becomes far more difficult,” said
Visa’s commercial clients can leverage the Visa Commercial Pay suite of solutions across multiple commercial-spend use cases, without any additional development or operational complexity that often comes with launching new capabilities. Financial institutions can now use Visa’s new set of flexible virtual-card capabilities in their entirety or a la carte, in order to quickly meet their clients’ needs.
For more information about Visa Commercial Pay, please email VisaCommercialPay@visa.com.
About Conferma Pay
Conferma Pay, is the world’s foremost provider of virtual payments technology. Founded in 2005, Conferma Pay combines innovation and expertise to push the boundaries of what can be achieved in the world of virtualized business payments. In the travel space, Conferma Pay connects issuers to more than 700 travel management companies, all three the major global distribution systems and more than 100 online booking tools. Conferma Pay is fully integrated with all the major card schemes and serves 50 banking partners, who have issued Conferma Pay-generated virtual cards in 96 currencies. www.confermapay.com