New global platform will enable seamless management of business payments with efficient, intuitive and easy to implement solutions
Visa, a global leader in digital payments, announced a new commercial payments ecosystem, the Visa Commercial Solutions Hub. This strategic initiative will provide financial institutions and businesses efficient access to a wide range of commercial payment solutions, complementary capabilities and integrations into a range of fintech services, making it easier for them to manage their commercial payments.
The VCS Hub will be an integrated platform, providing a more modern, personalized and consistent experience for users to easily navigate and accomplish key payment-related tasks. Through a single sign-on structure, efficient onboarding process and a menu of services to choose from, users can expect a faster and enhanced experience.
Also Read: BMO Names Kristin Milchanowski Chief AI & Data Officer
Commercial payments represent a $145 trillion market opportunity globallyi, but existing platforms tend to be targeted to, or specialized across, a specific use case or segment. So, users often have to go to disparate environments to access the range of solutions they need. Leveraging Visa’s global network, solutions and partnerships with key fintech providers, the Visa Commercial Solutions Hub will deliver a unified experience at a large scale.
“We hear regularly from our customers, and the customers of our customers, that they want and need seamless access to – and management of – their commercial payment solutions,” said Gloria Colgan, SVP and Global Head of Product, Visa Commercial Solutions. “The Visa Commercial Solutions Hub will enable better visibility and faster decision-making for our customers, all within a sleek new interface designed with them in mind.”
As a critical milestone in this process, the VCS Hub is moving into an initial pilot phase this month, focused on an enhanced and expanded B2B Payables experience. As the VCS Hub continues to expand in 2025, we will provide additional details.
Source: Visa