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June 14, 2017

Visa rolls out new framework to speed up B2B payment services

Visa has introduced a new strategic framework, known as Visa Ready Program for Business Solutions, which will help speed up business-to-business (B2B) payment services.

The new programme will help technology firms that integrate with Visa’s B2B payment services and data solutions ensure that they are in line with Visa’s standards.

At the outset, Bora Payment Systems, Bottomline Technologies, CSI globalVCard, MineralTree and Priority Commercial Payments will receive Visa Ready for Business Solutions approval and bring latest Visa payments to business customers.

Visa said that the programme allows its technology partners to integrate and approve a range of Visa B2B payments solutions, such as enhanced data, virtual card integration, payables automation and payment controls.

Once the approval process is completed, partners can start using Visa Ready mark in connection with the approved solution on their website and marketing collateral. They are also highlighted in Visa Ready Solution Directory.

Visa head of global products and solutions Vicky Bindra said: “B2B payments innovation has been fueled by businesses always looking to simplify complexities and time spent associated with paying and getting paid, as well as expense reconciliation.

“With the introduction of the Visa Ready for Business Solutions program, we are coming together with our technology partners to help quickly and securely bring to life a variety of use cases to meet unique needs of financial institutions and their corporate businesses, large and small, and across different industries.”

Additionally, participants in Visa Ready for Business Solutions programme can access to Visa’s tools and services, including Visa Developer Platform, to help support development of innovative commercial payment solutions.

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