The expansion integrates Visa’s Accounts Receivable Manager (Visa AR Manager) with the hub (VCS Hub) to give eligible issuers built-in access to end-to-end virtual card processing and reconciliation capabilities in one platform, the release said.
“Issuers see strong demand for commercial card solutions, but scaling those programs can be unnecessarily complex,” Gloria Colgan, senior vice president, global product, Commercial Solutions, Visa, said in the release. “Visa Commercial Solutions Hub reduces that friction, making it easier to connect with suppliers, deliver new capabilities faster, and drive meaningful growth in commercial payments.”
Launched in September, the VCS Hub is designed to offer issuers and FinTechs new commercial payment tools. The solution allows for full invoice and supplier payments, and it supports flexible, ad hoc payments.
The Visa AR Manager is designed to lower the operational barriers that have hindered virtual card adoption. With this integration, issuers can send virtual card payments on behalf of corporate buyers, according to the release.
“Visa AR Manager then provides a virtual card automation service to suppliers that reduces manual intervention, can accelerate reconciliation, potentially improving working capital outcomes for suppliers,” the release said.
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The PYMNTS Intelligence report “Ready for Change: Why Nearly Half of SMBs Want to Ditch Cash and Checks” found rising interest in virtual cards among small- to medium-sized businesses (SMBs) looking to reduce their reliance on cash.
Among the leading use cases cited by SMBs were dispute resolution, mentioned by 63%, followed by the ability to make payments without having cash on hand at 59%. These capabilities spotlighted “the advantage of digital tools in managing uncertainty and preserving liquidity,” PYMNTS reported March 31.
Paying suppliers more quickly was cited by more than half of SMBs, while around 42% pointed to greater visibility into available funds.
“These are not incremental improvements,” the report said. “They address core operational pressures. Virtual cards, in particular, extend these benefits by adding control over spending, enhancing security and enabling more precise tracking of transactions.”
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