Visa Inc. (NYSE:V) has recently announced a four-year extension of its partnership with Conferma Pay, a move aimed at bolstering the capabilities of Visa Commercial Pay payment offerings. This strategic collaboration aims to enhance the suite of B2B (business-to-business) payment solutions, aiming to replace outdated manual processes and optimize cash flow management for businesses.
Visa Commercial Pay encompasses products like the Visa Commercial Pay Mobile app, Visa Commercial Pay B2B, and Visa Commercial Pay Travel, catering to financial institutions and their corporate clients. The goal is to transition from traditional payment methods to automated processes. This partnership expansion is expected to empower the two companies to enrich their offerings and tap into significant markets across Asia, Latin America, and the Middle East.
The extension of the partnership is anticipated to direct additional investments toward the advancement of the B2B payment solutions suite. Furthermore, it’s poised to provide enhanced control, security, and diminished fraud risks for corporate customers. By breaking down barriers to a more digital payment environment, this move can accelerate the adoption of virtual payment products, fostering growth in this domain.
The timing of this collaboration aligns well with the ongoing expansion of the global travel market. Visa Commercial Pay’s emphasis on digital payment solutions within the travel sector positions it for potential profitability in the foreseeable future. The move is expected to reinforce its presence in burgeoning markets, setting the stage for sustained long-term growth.
Visa’s performance continues to be fueled by cross-border transaction volumes and increased processed transactions. In the third quarter of fiscal year 2023, its cross-border volume surged by 17% year over year on a constant-dollar basis. The company’s payments volume also displayed a 9% year-over-year increase during the same period, benefiting from robust performance in regions like Central Europe, the Middle East, Africa, Latin America, and the Caribbean.
In terms of price performance, Visa’s shares have recorded a 13.7% gain over the past year, surpassing the industry’s 3.3% increase.
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Author Stephanie Bédard-Châteauneuf 
