Visa is teaming up with Conferma Pay to let financial institutions add virtual corporate cards into employees’ digital wallets.
Visa says the virtual cards, which can be added to third-party wallets such as Apple Pay and Google Pay, will boost convenience, security and flexibility for corporate users.
The new Visa Commercial Pay Mobile will provide a commercial token account with configured payment controls. It uses tokenisation technology that Visa says minimises the risk of fraud and provides a secure payment environment, while enabling businesses to initiate transactions seamlessly.
Regions Bank is that first lender to roll out the technology for its Treasury Management customers.
Gloria Colgan, SSVP, global product, Visa Commercial Solutions, says: “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.”
Meanwhile, Visa Commercial Pay - already available in North America, Asia Pacific and Emea - is also expanding across the Latin America and Caribbean region.