Visa and Conferma Pay have agreed to a four-year extension of their collaboration agreement for Visa Commercial Pay, with the aim of expanding availability of virtual commercial payments around the world, the companies announced.
Visa and Conferma launched Visa Commercial Pay in 2020, building from Conferma’s virtual card technology platform to offer three products: Visa Commercial Pay Mobile app, which lets Visa virtual cards be loaded onto mobile devices; Visa Commercial Pay Travel, which integrates virtual card issuance and payments into corporate booking tools; and Visa Commercial Pay B2B, which enables virtual payments for more general procurement needs. With the extension, the companies plan to expand that suite of solutions and grow particularly in Asia, Latin America and the Middle East.
“We have a fantastic working relationship with Visa that has enabled the rapid delivery of software to simplify payments for businesses globally,” Conferma Pay CEO Jason Lalor said in a statement. “Based on our shared vision for a more digitized payment landscape, our expanding network of B2B partners means that Visa Commercial Pay will continue to grow and remove more barriers to business.”
Banks currently working with Visa Commercial Pay on offerings for their corporate clients include Emirates Bank, OCBC, PNC, Umpqua Bank and Wells Fargo, according to the companies
