Visa Adds Digital Wallet Features To Commercial Pay In Collaboration With Conferma Pay
Visa has partnered with Conferma Pay to expand the digital wallet capabilities of Visa Commercial Pay, a B2B payment solution. This collaboration aims to improve how businesses manage transactions globally by allowing financial institutions to add virtual corporate cards into employees' digital wallets, including third-party wallets like Apple Pay and Google Pay. The enhanced digital wallet will offer secure and convenient payment experiences, while Regions Bank will be the first to roll out this feature for its Treasury Management customers. Visa Commercial Pay will be available in Latin America and the Caribbean by 2024.
Digital payments firm Visa, Inc. (V) announced Monday extended digital wallet capabilities within Visa Commercial Pay, a suite of B2B payment solutions built in partnership with Conferma Pay, to revolutionize how businesses manage transactions globally.
The innovation enables financial institutions to add virtual corporate cards into an employees' digital wallet - including third-party wallets such as Apple Pay and Google Pay - to enhance convenience, security and flexibility for corporate users.
Visa Commercial Pay includes virtual card B2B payment solutions developed to improve cashflow for businesses and reduce outdated manual processes.
The new and improved Visa Commercial Pay Mobile will provide a commercial token account with configured payment controls allowing for an efficient payment experience across both Point of Sale and CNP payment methods.
The transformative approach utilizes advanced tokenization technology to minimize the risk of fraud and provide a secure payment environment, while enabling businesses to initiate transactions seamlessly, enhancing overall financial agility.
Regions Bank will be the first Visa collaborator to roll out the enhanced digital wallet capability for its Treasury Management customers.
Following its successful launch in the Asia-Pacific, Europe, Middle East & Africa and North America regions, Visa Commercial Pay will be available for customers in Latin American & Caribbean later in 2024.
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