Visa has announced new capabilities that enable provisioned virtual card push-to-wallet experiences.
Visa expands push-to-wallet
Users can now push virtual cards to mobile wallet ecosystems including Apple Pay and Google Pay, with control and security that allows for precise spending limits and monitoring of transactions, thereby minimising the risk of fraud and unauthorised expenditures.
Visa is an early mover in virtual card push-to-wallet, recognising the importance of creating digitally native B2B payment experiences that mirror the consumer ones we have all come to expect.
Virtual card transactions will exceed 121 billion globally by 2027, increasing 340% from 28 billion in 2022, according to Juniper Research.
Virtual cards can significantly enhance operational efficiency by automating payment processes and reducing the administrative burden associated with traditional payment methods, and they can facilitate improved working capital management by accelerating payment cycles and offering greater transparency into financial transactions, optimising business cash flow and financial planning.
“These new capabilities underscore Visa’s commitment to innovating the B2B payment landscape, ensuring that businesses have access to secure and efficient payment solutions,” said Gloria Colgan, SVP and Global Head of Product for Visa Commercial Solutions.
“By enabling push-to-wallet across our commercial products, we are making it easier for our clients to manage their finances in a digitally native environment.”
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