Visa has announced the general availability of the Visa Commercial Solutions (VCS) Hub, aiming to develop commercial payments for issuers and fintechs worldwide.
Following this announcement, the VCS Hub is currently available broadly, enabling issuers and financial institutions to deliver improved commercial payment and Embedded Finance experiences, charged by automation and secure integration.
For existing users, the platform is set to offer an end-to-end payables solution, enabling full invoice and supplier payments, while also supporting flexible ad hoc payments to manage business needs and requirements. In addition, for embedded payments, the incorporation into accounting solutions represents an important capability, making it easier and more secure for organisations to manage payments, as well as to focus on other essential business priorities.
More information on VCS Hub’s general availability announcement
According to the official press release, the VCS Hub was developed as a product engineered to deliver a smarter, safer, and more efficient experience for all users. As the process of expansion continues, the VCS Hub is expected to incorporate next-generation AI capabilities, aiming to ultimately offer issuers the capability to unlock a unified, intelligent platform.
Furthermore, the VCS Hub will continue to expand and be optimised with additional commercial payment solutions and capabilities. GenAI will be at the core of this strategy, as the company aims to further improve the manner in which the business gets done. Included in the key improvements are the AI-Powered payables (which were developed to automate accounts payable with GenAI-driven workflows that anticipate business needs, optimise cash flow, and reduce manual bottlenecks), embedded payments (are set to integrate payment capabilities into business applications, such as accounting, ERP, or custom workflows, through the process of leveraging Visa’s open APIs and intelligent orchestration), reporting and insights (will harness improved analytics and GenAI to surface actionable insights, predict trends, and empower smarter business decisions in real time), as well as personalised experiences (user experiences can be tailored by AI, delivering recommendations, alerts, and next steps that drive development, security, and efficiency).
