Visa has struck a deal with Stripe to enable buyers on Visa Payables Automation to pay suppliers who are unable to accept digital payments through the use of a virtual Visa card.
“When a buyer needs to pay a supplier, the enhanced Visa Payables Automation platform allows seamless digital payments experience. The supplier will be prompted to register with Stripe Connect, provide a bank account number, and start accepting payments,” says Chavi Jafa, head of business solutions, Asia Pacific, Visa. “Migrating to digital payments benefits both buyers and suppliers, as it eliminates maual processing and enhances reconciliation. This improves productivity while reducing errors and fraud. It also allows buyers and suppliers to better manage their working capital, utilising a Visa Commercial Card.”