Latest news with #virtualcards
Travel Daily News
23-05-2025
- Business
- Travel Daily News
TerraPay urges small travel firms to adopt virtual cards
Recommendations from payment provider TerraPay on optimizing your payment setup – especially if you are a small property owner navigating international transactions. BARCELONA – Ahead of next week's Bavel Summit by Voxel in Barcelona, payment provider TerraPay is urging the 35% of travel businesses – especially small and single-property operators – that currently don't accept virtual cards to reconsider their payment strategies. The company warns that outdated systems and reliance on traditional banking are putting many operators at a disadvantage position in the rapidly evolving digital marketplace. Koert Grasveld, Vice President of Travel Payments at TerraPay, says: 'Small property owners often struggle with managing international payments due to limited access to advanced digital tools and the high costs associated with traditional banking systems. 'These challenges include slow transaction times, high fees, and complex processes that hinder cash flow and create barriers to competing effectively on a global scale. For many small-scale operators – especially those managing just one or a few properties – these inefficiencies can significantly impact their ability to capture and serve international guests smoothly.' Grasveld points to virtual cards and other modern payment tools as a viable alternative that can simplify cross-border transactions and reduce dependence on legacy infrastructure. 'These platforms enable instant, secure, and cost-effective transfers, often bypassing intermediaries that add delays and extra costs,' he said. And adds: 'By adopting virtual payments, small property owners can streamline financial operations, improve cash flow management, and unlock new opportunities to grow in an increasingly global and digital travel economy.' Despite the growing shift toward digital transactions, many small hotel and boutique property managers still rely on slow and costly SWIFT-based systems. This creates friction and operational delays that disproportionately affect smaller players – especially in regions where virtual card infrastructure is underdeveloped or nonexistent. Grasveld explains that this gap can be bridged by offering a more streamlined cross-border payment solution – one that reduces fees, shortens settlement times, and improves accessibility. This is particularly crucial in regions where mobile wallets have leapfrogged traditional banks, and businesses need more agile, tech-enabled solutions to stay competitive. In markets like Asia, where many individuals and businesses do not have bank accounts but rely heavily on mobile wallets, integrating directly with local financial ecosystems allows providers like TerraPay to eliminate traditional intermediaries and deliver fast, secure transfers – with no bank account required. The same technology is also enabling airlines and online travel agencies (OTAs) to deliver instant payouts to travelers to cover urgent expenses such as food and drinks or hotel accommodation – without the delays or limitations of traditional card-based systems. As the travel sector continues to digitalize, embracing flexible, secure, and scalable payment tools is becoming a necessity. TerraPay's message ahead of the Bavel Summit is clear: the industry – especially its smallest players – can't afford to be left behind.
Yahoo
22-05-2025
- Business
- Yahoo
Visa (NYSE:V) Revolutionizes Virtual Card Transactions With Launch Of Visa AR Manager In US
Visa recently celebrated the launch of its Visa AR Manager product in the U.S., designed to automate virtual card processes for suppliers. Despite this innovation, the company's stock rose 12% over the past month, moving in line with the broader market. Other corporate actions, such as announcing new share buybacks and debt offerings, likely added impetus to Visa's share performance in tandem with market trends. Additionally, collaborations with firms like Euronet and Webull further reinforced Visa's focus on expanding financial product capabilities. Meanwhile, broader stock market moves exhibited slight upticks following previous sell-off concerns, bolstering investor sentiment. Buy, Hold or Sell Visa? View our complete analysis and fair value estimate and you decide. Outshine the giants: these 28 early-stage AI stocks could fund your retirement. The recent introduction of Visa's Visa AR Manager product signifies a continued emphasis on innovation, likely positively impacting its narrative by enhancing virtual card processes. This initiative, along with new share buybacks and collaborations, could bolster user engagement and expand Visa's financial product capabilities, supporting anticipated revenue growth. Over a five-year span, Visa's total shareholder return, including share price and dividends, reached 92.54%. This showcases strong long-term performance, albeit alongside a 1-year performance that trails the Diversified Financial industry, which posted a 20% return while Visa's was higher. Visa's recent advancements, especially in stablecoin settlements and tokenization, are expected to further contribute to revenue and earnings growth, solidifying a positive outlook as reflected in analysts' forecasts. Analysts project earnings to escalate to $27.2 billion by 2028, driven by a growing array of value-added services and international payment solutions. Regarding price movement, Visa's current share price of US$347.7 represents a modest discount to the analyst consensus price target of US$374.25, suggesting confidence in future performance. The 12% share price rise this past month aligns well with broader market trends, yet opportunities for continued growth remain, underscoring Visa's potential to meet or exceed analyst expectations. Jump into the full analysis health report here for a deeper understanding of Visa. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:V. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
Finextra
21-05-2025
- Business
- Finextra
Visa announces general availability of AR Manager in US
Visa (NYSE:V), a global leader in digital payments, announced the general availability of its innovative product, Visa AR Manager, in the United States. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Visa AR Manager is designed to grow and maintain existing card volume by automating the virtual card transaction process, addressing a significant pain point for suppliers accepting commercial credentials. Visa AR Manager streamlines the virtual card transaction process by retrieving card account details, initiating authorization and clearing steps on the supplier's behalf, and then providing meaningful and timely reconciliation data to close out invoices in the supplier's ERP system. This automation revolutionizes the way virtual card transactions are managed, simplifying the process and reducing manual touchpoints for merchants, allowing them to focus on core business activities. 'Visa AR Manager is a testament to Visa's commitment to payments innovation, aimed at significantly reducing friction with commercial acceptance,' said Abhishek, Global Head of B2B Acceptance, Visa Commercial Solutions. 'Visa AR Manager will significantly transform supplier AR workflows to enable increased efficiency and lower operational costs, while streamlining virtual card payments for merchants.' Key Capabilities of Visa AR Manager:
Fast Company
20-05-2025
- Business
- Fast Company
Slash uses AI to build custom banking tools for niche industries
A fintech company called Slash offers business banking accounts tailored to the needs of specific kinds of entrepreneurs. Slash provides business checking accounts with funds held at FDIC-insured banks, detailed spending analytics dashboards, free or low-cost wire and ACH transfers, easy access to lending options, and unlimited virtual cards. These cards can be configured with specific spending limits, merchants, and merchant categories to prevent unauthorized or erroneous employee purchases. That control, along with metadata from Slash's integrations with popular accounting platforms, makes it easier for bookkeepers to classify transactions. The company also offers a range of add-ons built for particular industries—something like an app store for banking—designed to address the unique pain points of different types of businesses. 'The insight behind Slash is the work that an accountant [does] at a construction company, or a marketing agency, or a property manager looks very, very different from one another,' says CEO Victor Cardenas. Marketing agencies, for example, often take money from clients to spend on platforms like Google and Facebook. Traditionally, they would use a single business checking account and rely on internal systems to track how much was received, how much had been spent, and when to request more funds. With Slash, agencies can create virtual accounts for each client, allowing both parties to see the remaining balance. They can even trigger automatic billing for more marketing funds—plus the agency fee—when the balance runs low. The approach is popular: Slash reports that more than 1% of global ad spending on Facebook is conducted using a Slash card. 'We basically make it much easier for agencies to put their accounts receivable on autopilot,' Cardenas says. Other industries have their own challenges. Contractors in fields like plumbing or HVAC often give technicians credit cards for fueling up, but want to prevent personal purchases—even inside gas stations. Slash enables businesses to restrict cards to fuel purchases only and ties each transaction to a specific driver or vehicle. 'We can make it so an owner can basically say, I want this card to only be able to be used to buy gas at the pump and not inside of the station,' Cardenas says. 'And then we get data at the time of clearing of the transaction around the actual fuel grade, what the kind of fuel was, and we're able to pass that on and show that to our customers.' Other users include online travel agents, who generate virtual cards to pay hotels and vendors. For businesses dealing with cryptocurrency, Slash enables sending and receiving stablecoin payments —without needing a separate crypto platform. Slash also offers an API that lets customers build custom dashboards, trigger payments through internal systems, or, in the case of e-commerce marketplaces, automatically transfer funds to vendors when goods are sold. Cardenas says the rise of AI-powered coding tools has allowed Slash to rapidly release features tailored to different industries. The company started in 2021 with a focus on sole proprietors, but pivoted in late 2023 to serve larger businesses in specific verticals. On Tuesday, it announced a $41 million Series B funding round, valuing the company at $370 million. Thanks to AI, Slash can now ship features at a pace that would have been difficult just a few years ago, while leveraging its existing banking infrastructure and relationships. 'It's becoming trivial to build software, but it's not trivial to stand up a card issuing and banking program,' Cardenas says. 'And so while we're ahead, we want to build solutions for as many industries as quickly as possible.'
