Visa, a titan in the digital payments arena, has recently unveiled an expansion of its digital wallet capabilities through Visa Commercial Pay.
The expansion aims to refine the client experience for business customers, introducing a superior value proposition. Visa’s initiative responds to the growing need for more efficient, secure, and flexible payment methods in the corporate world.
Visa Commercial Pay, a suite of B2B payment solutions, leverages virtual card technology to enhance cash flow and minimize outdated manual processes for businesses. Launched in 2020, it has significantly shifted corporates away from traditional payment methods towards more automated and secure alternatives.
The latest enhancement to Visa Commercial Pay includes the ability to add virtual corporate cards to employees’ digital wallets, such as Apple Pay and Google Pay. This feature not only boosts convenience and security for corporate users but also aligns with Visa’s strategic regional expansion in the Latin America & Caribbean region. The move underscores Visa’s dedication to driving secure, streamlined B2B payments in diverse business landscapes.
Visa Commercial Pay Mobile’s new features include a commercial token account with configurable payment controls, designed to streamline the payment experience across various methods. This innovative approach, using advanced tokenization technology, aims to reduce fraud risk and secure payment environments, promoting seamless transaction initiation and enhancing financial agility.
Regions Bank will pioneer the rollout of this enhanced digital wallet capability for its Treasury Management customers. This collaboration highlights Visa’s commitment to delivering value-added services and convenience to its clients, in partnership with financial institutions like Regions Bank, which serves a broad spectrum of commercial banking clients.
David Lapaglia, head of Commercial Card Product and Strategy for Regions. “A superior client experience is at the heart of our value proposition for business clients.
“Visa Commercial Pay is the ideal complement to our already-enhanced selection of products and services. Visa understands financial-service providers deliver greater value when they give clients more convenience, along with more intuitive, time-saving solutions. We share in that vision, and by building on our digital wallet capabilities, Regions is reinforcing its commitment to helping our business clients grow and thrive.”
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