American company Visa has expanded its digital wallet functionality and availability within its Visa Commercial Pay suite of B2B payment solutions.
Following this announcement, this expansion will enable financial institutions to add virtual corporate cards to their employees' digital wallets, including third-party wallets such as Google Pay and Apple Pay, in a secure and efficient manner. This process allows the company to optimize convenience, security, and flexibility for business customers and users.
At the same time, product upgrades continue with significant expansion of Visa Commercial Pay across Latin America and the Caribbean. Through this process, Visa continues to focus on its commitment to providing streamlined, secure and efficient business-to-business (B2B) payments in a market region known for its dynamic and diverse business environment.
More information about product upgrades
Visa Commercial Pay was developed in partnership with virtual payment technology provider Conferma Pay to improve the way businesses and businesses around the world manage their transactions. The product includes a virtual card B2B payment solution designed to optimize a company's cash flow and eliminate outdated manual processes overall.
Additionally, the upgraded service will offer customers commercial token accounts with payment controls configured to access an efficient payment experience for both point-of-sale (POS) and CNP payment methods. is. This approach aims to provide a secure payment environment while leveraging advanced tokenization technology to minimize the risk of fraud. At the same time, the service allows businesses and businesses to enter into transactions in an improved way, while also optimizing their overall financial agility.
According to a press release, Regions Bank will be the first financial institution to collaborate with Visa to roll out optimized digital wallet capabilities, which it aims to offer to its treasury management customers. Each region serves commercial banking customers in the high-growth markets of the Midwest, Texas and Southeast, while also focusing on each region's unique payments and cash flow needs.
Visa provides businesses with on-demand, secure transactions and the flexibility and agility of virtual and mobile payments. At the same time, our firm prioritizes meeting the needs, preferences and demands of our clients while maintaining compliance with local market regulations and laws.
Following the launch in Asia Pacific, Europe, Middle East, Africa and North America, the company plans to make Visa Commercial Pay available to customers in Latin America and the Caribbean in the second half of 2024.
