back Back

Visa pilots AR Manager to simplify commercial virtual card acceptance

By Gloria Mathias

October 25, 2023

  • AR Manager
  • B2B Payments
  • B2B Payments Platforms
Share

Visa, SAP, AR Manager, Virtual Card Acceptance, Digital Payments,  Cards Management, Visa, a global leader in payments, has announced the forthcoming pilot launch of Visa AR Manager, a new home-grown innovation that will reduce the friction commercial merchants experience with virtual card acceptance.

This solution, which will be available for a limited pilot in November, reinforces Visa’s commitment to delivering a seamless digital payment experience for issuers and suppliers alike, and it further expands offerings designed to support the commercial B2B community.

Virtual card acceptance can be an incredibly manual, time-consuming, and costly process, potentially occurring dozens of times each day and often with different protocols for each bank from which a merchant is receiving payments.

Visa AR Manager will address this merchant pain point directly, automating the virtual card transaction process by retrieving card account details, initiating the authorization, and clearing steps on the supplier’s behalf, and then providing meaningful and timely reconciliation data to close out invoices in the supplier’s Enterprise Resource Planning (ERP) system.

“This innovation is a direct result of deep, meaningful conversations with our valued partners and customers, who have highlighted the friction they experience today with virtual card transaction processing,” said Abhishek, Global Head of B2B Acceptance at Visa Commercial Solutions. “Visa AR Manager will enable us to create an optimal transaction experience for our commercial customers, automating an antiquated process and transforming the way they work.”

Visa AR Manager will be available for pilot customer onboarding beginning in November, with availability expanding more broadly into the new year. It supplements the deep, strategic partnerships that Visa has in place today to continue innovating around merchant friction with commercial payment acceptance.

Previous Article

October 25, 2023

Fiserv & Melio partner to expand payment capabilities for small businesses

Read More
Next Article

October 25, 2023

Beyon Money & MBME Pay join forces to enhance payment services

Read More






IBSi Daily News Analysis

Data privacy

July 16, 2024

AR Manager

Rise in sophisticated attacks, state-level threats, and increased ransom DDoS Incidents

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Mangopay & ManoMano simplify payments for marketplace sellers

Read More

Today

Digital banking glitches drive younger generations away from traditional banks

Read More

Today

Alawneh Exchange taps TerraPay to enhance cross border payments

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024