Visa Commercial Pay has added new digital wallet capabilities, in which financial institutions can add virtual corporate cards to employees’ digital wallets, including Apple Pay and Google Pay.
With the new capabilities, Visa Commercial Pay Mobile can provide commercial token accounts—a security method of replacing payment information with a unique set of characters—that employees can use for point-of-sale payments and card-not-present payments. Regions Bank, which has clients in the Southeast, Midwest and Texas, will be the first to make the new capabilities available to its Treasury Management customers.
Visa Commercial Pay, a collaboration between Visa and Conferma launched in 2020, also said it is embarking on a “significant expansion” across the Latin America and Caribbean region. Visa said the Visa Commercial Pay solutions will be available for customers in the region later this year.
