Visa has extended the digital wallet capabilities within Visa Commercial Pay, a suite of B2B payment solutions built in partnership with Conferma Pay to enhance how businesses manage transactions globally.

The new development enables financial institutions to add virtual corporate cards into an employee’s digital wallet, including third-party wallets such as Apple Pay and Google Pay, to enhance convenience, security and flexibility for corporate users. It coincides with a significant expansion of Visa Commercial Pay across the Latin America & Caribbean region, reinforcing Visa’s commitment to, and leadership in, enabling streamlined, secure and efficient B2B payments in a locality known for its diverse and dynamic business landscape.

Expansion to minimise risk of fraud and provide a secure payment environment

Visa Commercial Pay includes virtual card B2B payment solutions developed to improve cashflow for businesses and reduce outdated manual processes. Since its launch in 2020, it has helped corporates move away from traditional business payment methods to more automated and secure 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. This approach utilises advanced tokenisation technology to minimise the risk of fraud and provide a secure payment environment, while enabling businesses to initiate transactions seamlessly, enhancing overall financial agility.

Gloria Colgan, Senior Vice President, Global Product at Visa Commercial Solutions, commented: “We’re 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. Our solutions are designed to meet the needs of enterprises across the world, and in expanding to the Latin America & Caribbean region, we’re providing these businesses with the tools to thrive in an increasingly digital business landscape. Alongside our partners Conferma Pay, we’re delighted to be taking our enhanced capabilities to customers globally.”

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By GlobalData