Visa Extends Its Partnership With Conferma Pay To Boost Business-To-Business Payments

3
b2b

The B2B suite offered by the payments provider, Visa Commercial Pay, is the focus of the new relationship, which was announced on Thursday, August 10.

Gloria Colgan, senior vice president, worldwide product for Visa Commercial Solutions, stated in a news release that “the pandemic exposed significant inefficiencies with traditional payment methods used by businesses.”

The four-year deal involves considerable expenditures to increase the selection of B2B payment solutions as well as the company’s dedication to expanding the accessibility of virtual commercial payments.

Additionally, the expanded partnership enables both businesses to broaden their product lines in Asia, Latin America, and the Middle East. According to a press release, Visa Commercial Pay’s improved security, compliance, and control are “an incredibly important driver for issuers seeking to reduce the risk of fraud on behalf of their corporate clients.”

The new partnership, according to Dan Hanks, vice president of global product development at i2c, comes at a time when businesses are using virtual cards much more often.