Visa Transforms B2B Payments by Enhancing Digital Wallet Functionalities
Payments giant Visa has recently unveiled an expansion of its digital wallet capabilities through Visa Commercial Pay, a suite of B2B payment solutions built in partnership with Conferma Pay.
The expansion aims to enhance the customer experience for businesses, offering a superior value proposition. Visa’s initiative addresses the increasing demand for more efficient, secure, and flexible payment methods in the corporate sector.
Visa Commercial Pay, a suite of B2B payment solutions, utilizes virtual card technology to improve cash flow and reduce manual processes for businesses. Since its launch in 2020, it has significantly shifted companies away from traditional payment methods toward more automated and secure options.
The latest enhancement to Visa Commercial Pay allows for the integration of virtual corporate cards into employees’ digital wallets, such as Apple Pay and Google Pay.
This feature enhances convenience and security for corporate users while supporting Visa’s strategic expansion in the Latin America & Caribbean region. It demonstrates Visa’s commitment to facilitating secure and streamlined B2B payments across diverse business environments.
The new features of Visa Commercial Pay Mobile include a commercial token account with customizable payment controls, aimed at simplifying payment experiences across various channels. This innovative approach, leveraging advanced tokenization technology, aims to mitigate fraud risks and ensure secure payment environments, enabling smooth transaction processing and improving financial flexibility.
Regions Bank will lead the implementation of this enhanced digital wallet capability for its Treasury Management customers. This partnership underscores Visa’s dedication to providing value-added services and convenience to its clients, in collaboration with financial institutions like Regions Bank, which serves a wide range of commercial banking clients.
Speaking on the expansion of Visa wallet capabilities, David Lapaglia, head of Commercial Card Product and Strategy for Regions said,
“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.”
Also speaking, Senior Vice President, of Global Product at Visa Commercial Solutions, Gloria Colgan said that with Visa’s expansion of digital wallet capabilities, the company is empowering businesses with on-demand and secure payments, giving them the flexibility and mobility of virtual, mobile transactions, which is essential in today’s dynamic business environment,
