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Paperless B2B – About 86 percent of all business-to-business payments are made using paper checks, according to a joint study by Visa U.S.A. and Gartner Inc. Now Visa hopes to cut that number to zero.
E-payments – The company has introduced Visa Commerce, an electronic payment and information management service that doesnt use paper or plastic cards. The service complements the San Francisco-based companys existing purchasing card program.
Integration – Visa Commerce integrates with existing procurement systems, letting the buyer determine when to initiate electronic payments, defer settlement of payments based on pre-established terms with suppliers and transact payments up to $10 million each. For suppliers, it enables online payment requests and immediate access to payment status.