Global digital payments leader Visa has broadened its digital wallet services, allowing financial institutions to integrate virtual corporate cards into employees' digital wallets through an enhancement in collaboration with Conferma Pay. The move, under the umbrella of Visa Commercial Pay, incorporates popular platforms such as Apple Pay and Google Pay. According to Gloria Colgan, Senior Vice President of Global Products at Visa Commercial Solutions, the expansion aims to revolutionize global business transactions by providing enhanced convenience, security, and flexibility for corporate users. This initiative is part of Visa's ongoing efforts, initiated in 2020, to modernize traditional business payment methods through automation.
Visa Canada has also partnered with global accelerator and venture capital firm Plug and Play to boost fintech innovation in Canada. The collaboration aligns with the growth projections of the Canadian fintech sector, which is expected to grow at a rate of 25% annually until 2029. Additionally, Visa's partnership with Transak facilitates instant conversions of digital assets into local fiat currencies, addressing the increasing demand for crypto-to-fiat transactions and improving liquidity. Transak's integration across over 350 Web3 wallets ensures widespread accessibility, further simplifying the conversion process and enhancing crypto-to-fiat capabilities for users worldwide.
