Visa and Moneris to streamline B2B payments in Canada

Friday 5 November 2021 09:48 CET | News

Visa and Canada-based payment service provider Moneris have announced a feature, 'Moneris B2B Pay,' to help businesses pay and be paid.

It provides additional capability to Visa virtual commercial card users by automating the business-to-business payment process. Using straight-through processing, businesses can pay suppliers digitally with a Visa commercial card, have the funds directly deposited into the supplier's account, and send detailed remittance reporting right away.

The need for suppliers to manually process payments and handle sensitive account information is removed, giving businesses greater security and efficiency when it comes time to pay. Moneris B2B Pay works with Visa Payables Automation (VPA), Visa's accounts payables solution and Visa virtual cards, to help enable businesses disperse payments via commercial cards for purchases.

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Keywords: Visa, partnership, product launch, B2B payments, virtual card, digital payments, commercial card
Categories: Payments & Commerce
Countries: Canada
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Payments & Commerce

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