Digitalisation, virtual cards, corporate payment via a mobile application : Visahas concluded a strategic partnership with Conferma Pay, a leading supplier of payment technologiesfor the development of up-to-the-minute B2B payment solutions. " Companies (...) need support with the payment issues that the pandemic has rapidly highlighted "said Kevin Phalen, Global Head of Visa Business Solutions.
This new range of payment solutionscalled Visa Commercial Pay, is aimed at both business customers of Visa financial institutions, which will be able to offer their customers new functionalities linked to virtual cards. It comprises three offers and tools for managing card programmes.
Aimed at businesses, but especially business travellers, the Visa Commercial Pay Mobile offer takes the form of an application that hosts the virtual cards issued. on employees' mobile devices. Employees will be able to use virtual Visa cards on demand for their business purchases, whether online or in-store, thanks to integration with the digital wallets available on smartphones. At the same time, the application provides businesses with enhanced functionality for tracking expenditure while reducing the need to send physical cards. " In this new economic environment (...) controlling, reconciling and approving the expenses of employees working from home is much more difficult "says Simon Barker, CEO of Conferma Pay.
Focusing on higher value travel spend such as air tickets and hotel rooms, Visa Commercial Pay Travel enables companies to centrally manage their business travel spend. Integrated into business travel booking processes, the solution provides full visibility of spend, while automating spend reconciliation. In addition, Visa Commercial Pay Mobile users can view their bookings and total spend via the application.
Finally, a third offering completes this suite of solutions, Visa Commercial Pay B2B, to simplify and secure transactions between buyers and suppliers through a platform combining Visa and Conferma Pay solutions. New functionalities are added to help companies better manage their cash flows and capture enriched data for accounting reconciliation and reporting purposes.
