Visa has partnered with Lloyds Bank to launch a new virtual card for businesses.
In brief:
-‘Visa Commercial Pay’ will enable businesses to issue single and multi-use virtual cards for company spending
-It is now available to all Lloyds customers
-The virtual cards, which have the option to be either single or multi-use, can be issued instantly and should help businesses make online purchasing more efficient, adopting existing approval workflows.
What does this mean?
“Visa Commercial Pay is a next generation virtual payment solution that provides the technology to help businesses simplify and streamline the way they make payments, all in a secure and controlled way,” Visa managing director, UK and Ireland, Mandy Lamb said.
