Visa, the world leader in digital payments, has created a partnership with Conferma Pay, the world’s leading virtual payment technology provider. Announced expansion of digital wallet capabilities within Visa Commercial Pay, a suite of B2B payment solutions, revolutionizing the way businesses manage transactions globally.
This allows financial institutions to add virtual corporate cards to employees’ digital wallets, including third-party wallets like Apple Pay and Google Pay, increasing convenience, security, and flexibility for corporate users. . This announcement coincides with the significant expansion of Visa Commercial Pay in Latin America and the Caribbean and demonstrates Visa’s commitment to enabling smooth, secure and efficient B2B payments in a region known for its diverse and dynamic business environment. We are strengthening our leadership.
Visa Commercial Pay features a virtual card B2B payment solution developed to help businesses improve cash flow and reduce outdated manual processes. Since its launch in 2020 , Visa Commercial Pay has helped businesses transition from traditional business payment methods to a more automated and secure process. Visa’s continued innovation and leadership in virtual card solutions is demonstrated in Juniper Research’s latest report. By 2028, global virtual card spending will increase by 355% from $31 billion in 2023, according to the report.
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The new and improved Visa Commercial Pay Mobile now offers commercial token accounts with payment control configurations that enable efficient payment experiences from both the point of sale (POS) and contactless card payment (CNP) sides. Masu. This transformative approach leverages advanced tokenization technology to minimize fraud risk, provide a secure payment environment, and enable businesses to smoothly initiate transactions and improve overall financial agility. Increases sex.
said Gloria Colgan, Senior Vice President, Visa Commercial Solutions. “We enable businesses to make secure payment transactions instantly, giving them the flexibility and mobility to conduct virtual and mobile transactions, which is essential in today’s dynamic business environment. Designed to meet the needs of businesses around the world, as they expand into Latin America and the Caribbean, it provides them with the tools to move forward in an increasingly digital business environment. Together with our partner Conferma Pay, we are excited to bring these enhanced features to our customers around the world.”
Regions Bank is the first Visa partner to offer expanded digital wallet capabilities to Treasury Management customers. Regions operates in growth markets such as the Southeast, Midwest and Texas, and its wide range of commercial banking clients have unique payment and cash flow needs.
said David LaPaglia, head of commercial card products and strategy at Regions. “At the heart of our value proposition for our business clients is a superior client experience. ACommercial Pay is an ideal complement to our already robust list of products and services. They understand that the greater value that service providers can deliver to their clients lies in solutions that are convenient, intuitive, and time-saving. We share that vision and want to further enhance digital wallet capabilities. In doing so, Regions is strengthening its support for enterprise clients to grow and prosper.”
SOURCE: Businesswire