Visa Ready Program for Business Solutions Launches to Accelerate Business-to-Business Payments
June 13 2017 - 8:00AM
Business Wire
Bora Payment Systems, Bottomline Technologies,
CSI globalVCard, MineralTree, Priority Commercial Payments first
U.S. B2B technology partners to become Visa Ready
Today, Visa (NYSE:V) announced Visa Ready Program for Business
Solutions, a strategic framework to help technology companies that
integrate with Visa’s business-to-business (B2B) payment services
and data solutions ensure that they meet Visa’s standards and are
market ready. Bora Payment Systems, Bottomline Technologies, CSI
globalVCard, MineralTree and Priority Commercial Payments are the
first partners to obtain Visa Ready for Business Solutions
approval, and to bring to market innovative Visa payments to
financial institutions’ commercial customers.
Visa Ready for Business Solutions helps accelerate growth and
enable new use cases in the B2B payments space. The program enables
Visa’s technology partners to quickly integrate and approve an
array of Visa B2B payments solutions, including enhanced data,
virtual card integration, payables automation and payment controls.
Upon successful completion of the approval process, partners may
use Visa Ready mark in connection with the approved solution on
their website and marketing collateral. They are also highlighted
in Visa Ready Solution Directory.
“B2B payments innovation has been fueled by businesses always
looking to simplify complexities and time spent associated with
paying and getting paid, as well as expense reconciliation,” said
Vicky Bindra, head, global products and solutions, Visa Inc. “With
the introduction of the Visa Ready for Business Solutions program,
we are coming together with our technology partners to help quickly
and securely bring to life a variety of use cases to meet unique
needs of financial institutions and their corporate businesses,
large and small, and across different industries.”
Visa Ready for Business Solutions program participants have
access to Visa’s tools and services, including Visa Developer
Platform, to help support development of innovative commercial
payment solutions. Unique Visa Ready use cases include:
- Bora Payment Systems’ Buyer-Initiated
Payments (BIP) architecture is integrated with Visa
Supplier-Initiated Payment (SIP) APIs to help deliver faster, more
automated and streamlined corporate payments
- Bottomline Technologies’ payment
network, Paymode-X is integrated with Visa’s commercial card
solution, Visa Payables Solutions, to bring corporate clients a
seamless experience that helps simplify payment automation and
maximize cost savings, efficiency and security
- CSI’s globalVCard paysystems® platform
Visa API integration can enable Visa financial institutions to meet
the rising demand for simple and secure electronic accounts payable
solutions
- MineralTree’s accounts payable and
payment automation platform integration with Visa, using Visa APIs,
helps middle market organizations drive more invoice payments to
virtual cards
- Priority Commercial Payments’
integration to Visa B2B APIs can help Visa financial institutions
expand frictionless virtual card and straight-through-processing
payments to drive more commercial card adoption and utilization in
targeted verticals, such as construction, industrial manufacturing
and retail
“The B2B payments industry landscape is relatively complex,
replete with partnerships between multiple entities. Regardless of
size, businesses do not typically understand how the pieces fit
together or the potential benefits of integrated solutions,” said
Steve Murphy, director, commercial and enterprise payments advisory
service, Mercator Advisory Group. “The Visa Ready Program’s
approach seems to be a logical method to enable transparency and
security, while also providing businesses with the practical
benefit of faster value recognition through streamlined
implementation.”
The Visa Ready Program provides structure and clarity
to allow partners to quickly introduce devices, software, and
solutions that can initiate or accept Visa payments. In addition to
Business Solutions, Visa offers Visa Ready Programs for mobile
point-of-sale (mPoS), Internet of Things (IoT), and cloud-based
payments providers. Last week, Visa also announced more than a
dozen new Visa Ready token service partners to drive acceleration
into consumer IoT payments.
About Visa
Visa Inc. (NYSE:V) is a global payments technology company that
connects consumers, businesses, financial institutions, and
governments in more than 200 countries and territories to fast,
secure and reliable electronic payments. We operate one of the
world’s most advanced processing networks — VisaNet — that is
capable of handling more than 65,000 transaction messages a second,
with fraud protection for consumers and assured payment for
merchants. Visa is not a bank and does not issue cards, extend
credit or set rates and fees for consumers. Visa’s innovations,
however, enable its financial institution customers to offer
consumers more choices: pay now with debit, pay ahead with prepaid
or pay later with credit products. For more information, visit
usa.visa.com/about-visa, visacorporate.tumblr.com and
@VisaNews.
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Visa Inc.Aida Hadzibegovic, 415-805-4242ahadzibe@visa.com
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