Event: 2024 Phocuswright Europe
Product: Visa Commercial Pay
HQ: San Francisco, CA U.S.
Principal(s): Al Kelly, Executive Chairman; Ryan McInerney, CEO
Product Description: Visa Commercial Pay assists businesses with streamlining operations, automating reconciliation, and communicating virtual card payment information, all within one central and secure platform. Improve cash flow and eliminate outdated manual processes with Visa Commercial Pay. It functions across multiple business-spend use cases, from supplier payments thorough corporate travel and mobile payment options, to offer a solution that simplifies the way businesses manage payments.
Business Model: Visa is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Visa’s mission is to connect the world through the most innovative, convenient, reliable and secure payments network.
Competitors: MasterCard, Capital One, American Express, PayPal, Stripe, Discover
Competitive Edge: Visa has disrupted payments since day one. With over 4.4 billion cards in market, Visa is one of the world’s most advanced payment networks – total volume surpassing $15.3 trillion, driven by 290.3 billion total transactions. $0.25 to $0.30 of every dollar around the world transacted on a Visa credential.
Market Opportunity: Visa is empowering businesses with on-demand and secure payments, giving them the flexibility and mobility of virtual, mobile transactions, which is essential in today’s dynamic business environment. Our solutions are designed to meet the needs of enterprises across the world, we’re providing these businesses with the tools to thrive in an increasingly digital business landscape.
Early Customers: Corner Banca, Lloyds, UBS, PNC, Bank of America, Wells Fargo, Mashreq, Emirates
Contact: Alexandra Stegmann, Senior Director, Global Commercial Products; [email protected]
