BAKU, Azerbaijan, February 12. Visa has announced extended digital wallet capabilities within Visa Commercial Pay, a suite of B2B payment solutions designed in collaboration with Conferma Pay to modernize transaction management internationally, Trend reports.
According to Visa, the innovation enables banking institutions to integrate virtual corporate cards to employee digital wallets, including third-party wallets like Apple Pay and Google Pay, so improving convenience, security, and flexibility for business users.
"This corresponds with Visa Commercial Pay's strong expansion in Latin America and the Caribbean, demonstrating Visa's dedication to enabling simplified, secure, and efficient B2B payments in a region known for its diversified and dynamic business landscape. Visa Commercial Pay offers virtual card-based B2B payment solutions that help businesses improve cash flow and eliminate antiquated manual processes. Since its introduction in 2020, it has assisted businesses in transitioning from traditional payment methods to more automated and secure operations. The new and updated Visa Commercial Pay Mobile system provides a commercial tokenized account with customizable payment rules to facilitate efficient payments at the point of sale and through CNP payment methods," the information says.
To note, the transformational method employs advanced tokenization technology to reduce fraud risk and provide a secure payment environment, allowing businesses to conduct transactions seamlessly while increasing total financial flexibility.
"We enable businesses to make secure, on-demand payments while maintaining the flexibility and mobility of virtual, mobile transactions, which is critical in today's fast-paced business world. Our products are designed to meet the needs of businesses all over the world, and by expanding into Latin America and the Caribbean, we are providing these businesses with the tools they need to survive in an increasingly digital business environment. We are excited to deliver our increased capabilities to customers around the world, working with our Conferma Pay partners," said SVP of Global Products for Visa Commercial Solutions Gloria Colgan.
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