More Convenience. More Flexibility. Regions Bank Launches Visa Commercial Pay Mobile for Corporate Banking Clients
05 Março 2024 - 11:00AM
Business Wire
Regions Bank is the first to launch this Commercial Card
enhancement tool from Visa to help business clients maximize
payment options through the mobile wallet.
Regions Bank on Tuesday announced the launch of Visa Commercial
Pay Mobile, an enhanced commercial card solution from Visa, a world
leader in digital payments, that allows Treasury Management clients
to make quick, easy and secure payments from the convenience of a
digital wallet. Regions is the first financial institution to make
it available.
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Regions Bank is announcing the launch of
Visa Commercial Pay Mobile, an enhanced commercial card solution
from Visa, a world leader in digital payments, that allows Treasury
Management clients to make quick, easy and secure payments from the
convenience of a digital wallet. Regions is the first financial
institution to make it available. (Photo: Business Wire)
“A superior client experience is at the heart of our value
proposition for business clients,” said David Lapaglia, head of
Commercial Card Products and Strategy for Regions. “Visa Commercial
Pay is the ideal complement to our already-enhanced selection of
products and services. Visa understands financial-service providers
deliver greater value when they give clients more convenience,
along with more intuitive, time-saving solutions. We share in that
vision, and by building on our digital wallet capabilities, Regions
is reinforcing its commitment to helping our business clients grow
and thrive.”
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 Bank and their
clients, fostering growth and enhancing the customer experience for
a variety of B2B payment use cases,” said Veronica Fernandez,
senior vice president, regional head of North America, Visa
Commercial Solutions.
Regions worked with Visa on functionality support for Visa
Commercial Pay Mobile, including product development, pilot
testing, product validation and associate training. It is the
latest in a series of new Treasury Management products and services
from Regions Bank. Those include:
- 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 Bryan Ford, head of
Treasury Management for Regions Bank. “At a time when businesses
want more technology tools to manage their cash flow, Visa
Commercial Pay Mobile provides greater options for payment needs.
We appreciate the collaboration with Visa to make this solution
possible, and we are proud that Regions is leading the way in being
the first to offer it in the marketplace.”
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $152 billion in
assets, is a member of the S&P 500 Index and is one of the
nation’s largest full-service providers of consumer and commercial
banking, wealth management, and mortgage products and services.
Regions serves customers across the South, Midwest and Texas, and
through its subsidiary, Regions Bank, operates approximately 1,250
banking offices and more than 2,000 ATMs. Regions Bank is an Equal
Housing Lender and Member FDIC. Additional information about
Regions and its full line of products and services can be found at
www.regions.com.
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Jennifer Elmore Regions Bank (334) 240-1220 Regions News Online:
regions.doingmoretoday.com
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