The new solution facilitates businesses to instantly generate Visa credit cards for employees, vendors, and contractors through a mobile app and leverages Visa Commercial Pay, a suite of business-to-business payment solutions designed to augment cash flow and eliminate manual processes.
With the new offering, clients have more visibility and control over corporate card usage as individual cards can be issued with specific spending limits, expiration dates, and merchant restrictions. Once mobile virtual Visa credit cards are issued and enabled in a digital wallet, they can be used for online purchases or contactless payments with a mobile phone wherever Visa is accepted, without the need for a physical card.
Perks of the new solution are total spend view, quick creation and distribution of virtual cards, increased spend control, increased security, reduced fraud, and reduced reimbursements and reconciliation time.
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