Boost Payment Solutions and Visa collaborate to streamline commercial card use
Traditional commercial payments giants have moved their eyes towards collaborating with non-traditional payments firms making commercial space more competitive than ever. Earlier TransferWise had partnered with Mastercard worldwide while Visa eyed Currencycloud for partnership on cross-border and travel payments.
In order to expand such alliances, Visa and Boost Payment Solutions have announced a partnership which will provide Visa commercial card issuers, cardholders and suppliers with payment flexibility, Straight Through Processing (STP) and automated reconciliation which will help expand card acceptance and use, the press release noted.
With this partnership with Visa, the users will use Boost’s Dynamic Boost platform, which uses rule-based pricing for commercial card payments and will also use Boost Intercept, which is a Straight Through Processing (STP) platform.
Visa cardholders will have access to flexible pricing models that will induce card acceptance from suppliers that have been resistant to pre-set pricing and manual processes which were associated with commercial card acceptance, the press release stated.
To hear more from Visa and Boost Payment Solutions, join them at CPI Global Summit, October 6-7