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City National, Extend launch Visa-based commercial credit card

Friday 29 January 2021 11:50 CET | News

US-based City National Bank has announced that it has joined with fintech startup Extend to launch a virtual Visa commercial credit card solution.

With this new virtual Visa card capability, City National commercial card clients can send virtual credit cards to employees, contractors and vendors with digital capabilities, distinct spending limits and expiration dates.

Once the cards are issued and enabled in the digital wallet, employees, contractors, and vendors can use the cards for online purchases or use Apple Pay and Google Pay mobile wallets to make contactless payments at point of sale with a mobile phone, without having to wait for a physical card. 

Additionally, the virtual card offers solutions such as automatic reconciliation, receipt and invoice attachments and expense integrations. Businesses can distribute virtual Visa cards without exposing card numbers and have the ability to cancel cards at any time. Visa Token Service, Visa’s tokenization technology, replaces a cardholder’s 16-digit Visa account number with a secure token that protects the underlying card number from fraudsters. 

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Keywords: City National, Extend, Visa, cards, fintech, innovation, virtual card, VISA card, credit card, digital solution, digital wallet, mobile payment
Categories: Banking & Fintech | Cards
Countries: United States
This article is part of category

Banking & Fintech