Finexio announced a collaboration with Visa through the Visa Commercial Integrated Partner program, aimed at expanding the efficiency, reach, and adoption of digital payments across the business-to-business ecosystem.
The collaboration brings Visa AR Manager to Finexio’s B2B payment network. Visa AR Manager handles the virtual card transaction process on the merchant’s behalf, retrieving card account details, initiating authorization and clearing steps, and returning timely reconciliation data to close out invoices in the merchant’s ERP system.
Finexio also introduced a bring your own card (BYOC) capability for Visa’s issuing banks under the Visa Commercial Integrated Partners program. The feature lets issuers and their commercial clients use existing Visa card programs through Finexio’s AP payments platform, which the release said includes 5 of the top 15 largest accounts payable and procure-to-pay platforms.
On scale, the announcement cited more than 50,000 card-accepting suppliers already active on Finexio’s platform, plus access to more than 500,000 suppliers through Finexio’s broader supplier base.
“Businesses are asking for efficiency, suppliers want faster payments, and issuers want to capture more B2B volume. This collaboration with Visa brings those priorities together,” said Ernest Rolfson, CEO of Finexio.
“Modernizing B2B payments requires scale and simplicity. By integrating Visa Virtual Accounts for Payables and Visa AR Manager, our collaboration with Finexio demonstrates how Visa is streamlining virtual card payments and acceptance across the buyer-supplier ecosystem at scale,” said Piyush Tiwari, Head of Global Strategic Partnerships at Visa Commercial Solutions.Read the original publication (opens in a new tab)