Visa, the global digital payments giant, has broadened its digital wallet services to allow financial institutions to incorporate virtual corporate cards into employees’ digital wallets.
This enhancement falls under the firm’s B2B services, developed in collaboration with Conferma Pay.
Visa aims to revolutionise how businesses globally manage transactions through this enhancement on Visa Commercial Pay, now integrated with Apple Pay and Google Pay.
Gloria Colgan, Senior Vice President of Global Products at Visa Commercial Solutions, remarked, “Our solutions are tailored to meet the requirements of enterprises worldwide, including the Latin America and Caribbean region.
“We equip these businesses with the necessary tools to thrive in an increasingly digital business environment.
“We are pleased to extend our enhanced capabilities to customers globally in partnership with Conferma Pay.”
This expansion of services for financial institutions by Visa enhances convenience, security, and flexibility for corporate users. Visa Commercial Pay, launched in 2020, aims to modernise traditional business payment methods through automation.
Recently, Visa Canada partnered with the global accelerator and venture capital firm Plug and Play.
This collaboration will foster fintech innovation in Canada, aligning with the expansion of the Canadian fintech sector.
The Canadian fintech sector is expected to grow at an annual rate of 25% until 2029.
Visa’s collaboration with Plug and Play is anticipated to offer fintech companies access to scalability and security within Visa’s global network.
Moreover, Visa and Transak joined forces last month to facilitate instant conversions of digital assets into local fiat currencies.
This partnership targets the increasing demand for crypto-to-fiat transactions, addressing compliance challenges and enhancing liquidity.
Transak’s integration across 350+ Web3 wallets and platforms ensures widespread accessibility for users globally.
From MetaMask to Coinbase Wallet, Transak’s solution streamlines the conversion process, making crypto-to-fiat capabilities more accessible.
By integrating Visa Direct with Transak’s infrastructure, users can swiftly convert crypto assets into fiat, improving liquidity and transaction speed.
Additionally, Visa has entered the Web3 space with the launch of Visa Web3 Loyalty Engagement.