New program enables issuers to enhance commercial offerings through fully integrated digital solutions
Visa, a global leader in digital payments, announced Visa Commercial Integrated Partners, a new program designed to improve connectivity between fintechs and Visa Commercial products through its commercial platform.
„Visa will make available advanced APIs to embed Visa products in a business partners’ applications and make these integrations available to its financial institution clients, allowing them to offer new, seamless payment experiences to their business customers.” – according to the press release.
Empowering Fintechs and Financial Institutions
Visa Commercial Integrated Partners is providing the ecosystem, technology and framework for innovative fintechs and other business application providers to integrate payment functionalities into their platforms with ease and enable Visa credentials offered by Visa Commercial issuers.
„For example, the Visa Commercial Integrated Partners program allows financial institutions that use Visa’s commercial platform to offer their customers virtual payments and data solutions, instead of having to complete direct technical integrations with these applications such as ERP or Fleet Management platforms. This helps financial institutions avoid long or costly technical development and investments in resources.” – Visa explained.
One of Visa’s first partners in the program, Car IQ, is a leader in fleet and vehicle technology, and is enabling integration with the commercial platform. Clients will soon be able to access Car IQ software for their business customers and enable in-app payments with virtual cards at fuel providers, without extensive supplier onboarding or development, potentially saving 18-24 months of due diligence, integration work and project management.
This also benefits Visa business partners in the program by reducing their development time and costs, enabling fintechs to focus on innovation and enhancing customer experiences, while providing their customers with the ability to make payments with existing Commercial Card credentials.
Financial institutions can leverage Visa Commercial Integrated Partners to offer customers enhanced payment solutions, such as payments in ERPs, expense management, mobile and vehicle apps, offer tokenization through virtual cards, more elaborate transaction controls and enhanced data on settlements. This not only improves the customer experience but also strengthens the institution’s commercial card product offerings and competitive position in the market.
Through Visa Commercial Integrated Partners, financial institutions can access pre-evaluated fintech partners already integrated with Visa, driving faster adoption and implementation.
„Visa Commercial Integrated Partners represents a significant step forward in our mission to empower financial technology providers and financial institutions with innovative digital payment solutions,” said Darren Parslow, Global Head of Visa Commercial Solutions. „By leveraging our network and Commercial APIs, we are enabling our partners to innovate faster, reduce development and distribution costs and deliver superior payment experiences to their clients – it underscores Visa’s commitment to driving the future of digital payments and supporting the growth of the fintech ecosystem globally.”
„Our digital payment infrastructure enables issuing banks to offer commercial customers a fleet solution that will enable them to connect their fleet vehicles directly to their existing Visa line of credit,” said Sterling Pratz, Founder and CEO of Car IQ. „We believe transforming the vehicle into a Visa payment credential for fuel, tolls, and services will help banks recapture fleet spend that is currently lost to legacy card programs and private networks.„
Global Reach with Local Implementation
Visa Commercial Integrated Partners is designed to support a global network of business partners while addressing local market needs. Collaborating with regional fintechs and financial institutions helps ensure that Visa solutions are relevant and effective across different markets.
The program is built on a global framework, allowing for consistent contracting models, data privacy, technology integrations, risks and security standards worldwide. Visa also works closely with regional partners to tailor solutions to specific market requirements, supporting a diverse range of partners from global enterprises to local startups.
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