Partnership to Simplify B2B Payments with Visa Virtual Credit Cards
SAN FRANCISCO & ORLANDO, Fla.--(BUSINESS WIRE)--
Visa Inc. (NYSE:V) and Viewpost®,
a secure B2B network for electronic invoicing, payments and real-time
cash management, today announced an exclusive partnership to bring
electronic business payments to Viewpost’s small to medium-sized
business clients (SMBs). By using Visa virtual commercial cards through
their participating financial institutions, SMBs will increase
automation, convenience and security for their B2B transactions.
Viewpost’s SMB customers will be able to benefit from Viewpost
electronic payment capabilities and the use of a secure, one-time Visa
virtual account number. When a virtual card payment is made through
Viewpost, the supplier will receive a one-time virtual account number
for posting funds to its merchant account. Viewpost will then deliver
data-rich remittance information to both businesses, such as, paid
invoices, the amount paid and the due date. If a supplier does not
accept virtual commercial card payments, an invitation can be extended
through a proprietary automation method, which makes enrollment quick
and simple.
“Providing access to simple, secure working capital solutions for SMBs
is a critically-important focus for our business,” said Vicky Bindra,
global head of products & solutions at Visa Inc. “Our collaboration with
Viewpost gives SMBs comprehensive financial management tools in a single
portal – right where they bank. We are thrilled to partner with Viewpost
and make our customers’ lives easier by significantly reducing time,
cost and friction around payment, so they can focus on what is most
important - managing and growing their businesses.”
As a trusted, open B2B network available to businesses of all sizes,
Viewpost gives financial institutions the tools that enable SMBs to
connect and exchange electronic invoices and payments, share transaction
data and access working capital on demand with unprecedented ease and
visibility. Visa’s partnership with Viewpost will help financial
institutions in the U.S. bring to market a fully integrated and
optimized SMB finance management solution that seamlessly integrates
with their online banking site.
“We’re excited to partner with a renowned brand and payments technology
leader like Visa,” said Max Eliscu, CEO at Viewpost. “This partnership
accelerates our ability to address costly pain points in the
multi-trillion-dollar B2B payments ecosystem1 while also, and
perhaps most importantly, bringing flexibility, cost savings and
simplicity of payment to the massive and underserved small business
marketplace.”
“According to our 2016
Small Business Payments and Banking Survey, over two thirds of
respondents indicated they preferred to pay bills through online banking
tools, rather than a supplier’s website,” said Ken Paterson, vice
president of research operations, Mercator Advisory Group. “The
Visa/Viewpost partnership promises to offer a seamless integration for
banks who are looking to enable their customers to have one centralized
destination for all of their corporate payment needs.”
About Visa Inc.
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 of time
with prepaid or pay later with credit products. For more information,
visit usa.visa.com/about-visa.html,
visacorporate.tumblr.com
and @VisaNews.
About Viewpost
Viewpost North America is revolutionizing the way businesses transact
with each other. Viewpost built the most trusted open business network
to empower businesses of all sizes with real-time cash management for
anytime operating decisions. On the secure Viewpost network, companies
connect and exchange electronic invoices and payments with unprecedented
ease and visibility, accessing working capital on demand. Enterprise
clients are using Viewpost to cut costs, increase efficiency and improve
cash management, including Accenture, Florida Hospital Medical Center,
Georgetown University, the Orlando Magic and Whole Foods Market. With
enterprise-grade security, including ISO 27001 and SSAE16 audited
certifications and the TRUSTe Privacy Seal and Skyhigh CloudTrust
Enterprise-Ready Rating, Viewpost is partnering with financial
institutions to bring cash management tools to business customers at
U.S. Bank, Bank of America and Fifth Third Bank. Viewpost innovation has
been awarded Best in Show by Barlow Research, Best CISO/CSO by FireEye
Cyber Defense Summit, CSO50 Award (four-time honoree) by IDG’s CSO, and
Best B2B Payments Platform by Tradestreaming. Since Viewpost was opened
to the public in early 2015, the total invoices presented and payments
processed has reached $71.4 billion across the network. Founded in 2011,
Viewpost is headquartered in the Orlando area with additional teams in
Boston, Minneapolis and San Francisco. Learn more at www.Viewpost.com, Viewpost.com/blog and @Viewpost.
1 Source: Accenture, https://www.accenture.com/us-en/~/media/Accenture/Conversion-Assets/DotCom/Documents/Global/PDF/Industries_5/Accenture-FS-Payment-Services-Corporate-Payments-PoV.pdf
View source version on businesswire.com: http://www.businesswire.com/news/home/20170328005559/en/
Source: Visa Inc.