Visa rolled-out the 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.
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 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. Visa recently announced more than a dozen new Visa Ready token service partners to drive acceleration into consumer IoT payments.