Visa and Viewpost to Accelerate Electronic Bill Payments for U.S. Businesses
March 29 2017 - 07:59PM
Business Wire
Partnership to Simplify B2B Payments with
Visa Virtual Credit Cards
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 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
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version on businesswire.com: http://www.businesswire.com/news/home/20170328005559/en/
VisaAida Hadzibegovic,
415-805-4242ahadzibe@visa.comorViewpostRuss Stark,
612-325-3969rstark@viewpost.com
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