Visa has announced a partnership with e-payment provider Conferma Pay for the launch of Visa Commercial Pay - a set of payment solutions targeted at B2B segment of the market.

Bloomchain.ru reports that the Commercial Pay’s tools will enable companies to increase cash flows and eliminate “outdated manual processes.”

Essentially, Visa Commercial Pay is a new corporate card program. It allows employees to pay for corporate expenses with special virtual cards. Companies, in their turn, are able to monitor the expenses of their employees in order to increase cash flow and reduce risks.

Visa Commercial Pay comprises three B2B products, designed for financial institutions and their clients:

Visa Commercial Pay Mobile - a mobile application, which is a digital wallet designed to store virtual Visa cards issued for corporate needs. The app will allow employees to pay work-related expenses both online and offline.

Visa Commercial Pay Travel - a solution that allows companies to establish centralized management of their business travel expenses. Visa has stated that the solution “integrates seamlessly” into hotel and flight booking, thus providing executives with enhanced data on employee spending. For instance, the product allows for automated reconciliation of expenses.

Visa Commercial Pay B2B - a product that the creators present as a platform combining the capabilities of Visa and Conferma Pay. This platform has a number of features that allow companies to manage cash flows and collect an extended set of data, which they can use to reconcile reports. The solution can serve as a standalone product or integrate with a third-party management system for supply chains.


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