More Convenience. More Flexibility. Regions Bank Launches Visa Commercial Pay Mobile for Corporate Banking Clients
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“A superior client experience is at the heart of our value proposition for business clients,” said
In 2022, Regions launched Visa Commercial Pay-Travel. This virtual commercial card solution can facilitate quick, easy and on-the-go business travel payments from a centralized travel-management vendor. With the launch of Visa Commercial Pay Mobile, business clients can now create virtual accounts to use for payments beyond travel expenses by using a mobile application. Virtual accounts can then be connected to a mobile wallet and used for payment in the following types of business transactions:
- Contactless payment where the mobile wallet is scanned to make a secure payment at a point-of-sale terminal, like in a retail outlet or restaurant.
- “Card-not-present” transactions where payments can be made without the physical card, like phone payments or online invoices. The virtual card number can be used instead.
- eCommerce transactions where payments can be made through a digital wallet, where account information is securely stored and used to make payments with a few simple clicks.
This enhanced solution allows businesses the convenience to issue virtual accounts to employees and monitor real-time updates on business expenses, all within the Visa Commercial Pay app. Visa Commercial Pay Mobile supports overall cash-management strategies that many businesses need to help reduce manual payment processing and optimize cash flow operations.
“The acceleration of digitization in B2B payments is rapidly transforming the needs and experiences of corporate clients. We are thrilled to offer top-tier services to
Regions worked with
- Expansion of an integrated billing and payments platform for business clients using BillerXchange, the bank’s electronic bill presentment and payment solution to automate bill presentment.
- The launch of a digital solution enabling Corporate Banking clients to send real-time payments through the RTP® network from The Clearing House. The real-time payments service is part of Regions’ iTreasury platform, which offers a wide range of competitive financial-management options for businesses through Regions’ Treasury Management division.
In the coming months, Regions will launch RegionsCashFlowIQSM, a new tool that is being designed to help improve cash flow for clients by providing seamless accounts payable, accounts receivable, invoicing, and business bill payment capabilities for small and mid-sized businesses.
“Regions continues to envision payment solutions that meet the emerging needs of business clients,” said
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