SAN FRANCISCO (dpa-AFX) - Visa (V) Wednesday has officially launched Visa AR Manager in the U.S., a tool designed to enhance commercial virtual card acceptance by automating transaction workflows for suppliers.
The product aims to help merchants grow and sustain card volume while addressing key inefficiencies in the virtual card process.
Visa AR Manager automates the retrieval of card details, initiates authorization and clearing with major U.S. acquirers, and delivers timely reconciliation data to suppliers' ERP systems, reducing manual intervention and improving invoice closure accuracy.
Abhishek, Visa's Global Head of B2B Acceptance, noted that the tool reflects Visa's ongoing push for payment innovation. He emphasized that Visa AR Manager transforms supplier accounts receivable processes by cutting operational costs and boosting efficiency.
Key features of Visa AR Manager include a simplified supplier onboarding process with automated merchant ID verification, seamless card account retrieval through batch file integration or email parsing (with API support coming soon), automated initiation of transactions on behalf of suppliers, and accurate, timely reconciliation that integrates directly into ERP systems for efficient invoice closure.
Visa is currently onboarding new issuers and encouraging interested parties to contact the AR Manager team.
V is currently trading at $359.48, or 2.01% lower on the NYSE.
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