Following this announcement, customers of Fibank will be enabled to benefit from multiple capabilities, such as secure and efficient cash back, travel insurance with comfortable coverage when the clients are traveling abroad, as well as exclusive and optimised solutions.
Fibank already issues corporate Visa Business Debit cards in each of its branches with locations in Sofia and others across the country. The cards can be issued in order to manage the specific company, as well as the individuals that are authorised by the firm. They are free of charge for issuance and upon transaction in the commercial establishment in Bulgaria and abroad.
While leveraging Visa Platinum Business Debit, the process of payment of company expenses is fast and secure in order to make control and accounting significantly easier for businesses. Employees with business debit cards from the financial institution will be enabled to pay flexibly during a business trip, as well as to report to management in a secure and fast manner. In case the card is lost or stolen, the preservation of the overall funds in the account is ensured by reporting this fact to the Fibank. In addition, the cards will be canceled and replaced quickly, and another account access will be provided immediately.
Visa Platinum Business Debit cards will also deliver participation in a cash back programme, with reimbursement of 0.2% of the turnover made every 6 months, after reaching at least BGN 10.000. They also have travel insurance when traveling abroad from Generali with coverage up to USD 15.000. Moreover, clients will be enabled to access business airport lounges with the Louge Key program, as well as special offers for various hotel discounts around the world.
Visa had multiple partnerships and product launches in the last couple of months, covering several different geographic areas around the world.
At the beginning of December 2023, Finland-based card issuing and processing company Enfuce announced the extension of its collaboration with Visa in order to launch the latter’s Fleet 2.0. solution and service. Enfuce and Visa started their strategic deal in June 2021, with the former aiming to launch a programme that allowed European fintech to introduce their payment card offerings for their customers. According to the press release published at the time, the new certification enabled Enfuce to provide the Visa Fleet 2.0. solution to their joint, potential clients and partners.
Included in the benefit provided by the new tools were the detailed financial reporting and operational efficiency through the process of consolidation of transaction data, such as purchased items, unit prices, and associated VAT on a single card, with real-time data also supporting fraud prevention procedures. In addition, restrictions for specific types of purchases offered companies improved control over card usage and reduced the risk of inappropriate spending, as well as optimised security through Enfuce’s deployment of safe EMV technology and authentication methods like 3DS.
Earlier in the same month, Visa and Oxfam America announced their intent to scale the B-READY project in order to provide preventive financial aid in four high-risk locations. According to the press release published at the time, Visa and Oxfam America declared their intent to collaborate in scaling the latter’s Building Resilient, Adaptive, and Disaster-Ready Communities project to deliver real-time, secure, and efficient money movement and relief payments to individuals and businesses in the region of the Philippines, Colombia, Kenya, and Puerto Rico.
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