We made an exciting announcement today that we’ve formed a strategic alliance with Visa to help streamline accounts payable functions for Nexus real estate customers, enabling them to pay suppliers more quickly, safely and conveniently with Visa Virtual Cards.
Our collaboration with Visa will help us deliver virtual card payments for our clients, transforming the tedious pain point of supplier payments into a fully automated, integrated, seamless experience. Nexus Payables can integrate with a financial institution’s Visa commercial credit account payment capabilities. In doing so, we can facilitate Visa commercial card payments from Nexus customers to merchants who accept Visa. Nexus customers will submit a consolidated payment file which will match real-time with supplier payment elections from the Nexus platform. An email with payment and remittance details is then sent to the supplier, who can process the single use virtual card as they would process any credit card transaction. The supplier benefits from safe, fast payments with great visibility.
By seamlessly facilitating procure-to-pay, along with providing access to countless business connections and 24-7 capability for information sharing and visibility, we’re making it easier to maintain the relationships at the heart of real estate.
Visa is focused on enabling businesses to send and receive funds in a more efficient and effective way within industry verticals. Visa’s work with Nexus demonstrates their commitment to helping drive adoption of Virtual Cards across key B2B industries.
For the complete story, please see today’s Press Release.