Extend, a leading virtual card and spend management platform, has partnered with Visa to offer middle-market businesses enhanced financial control, security, and efficiency in their B2B payments. This collaboration aims to streamline expense management and combat fraud while integrating seamlessly with existing banking relationships.
Addressing the Growing Demand for Smarter Payments
Middle-market businesses are actively seeking flexible payment solutions that offer greater control over expenses without disrupting their financial operations. Virtual cards have emerged as the go-to solution, with global spending projected to skyrocket to nearly $14 trillion by 2028, up from $3.1 trillion in 2023. Extend’s platform enables businesses to leverage these benefits without switching their preferred bank or credit card provider.
Strengthening Visa-Issuing Banks and Their Business Clients
This partnership will empower Visa-issuing banks to extend enhanced digital payment solutions to their business clients. Over 55% of small and midsize businesses in the U.S. already had a credit card compatible with Extend’s platform. By integrating Extend’s solutions, banks can increase customer retention, drive new revenue streams, and expand their business card programs.
Key Benefits of Extend’s Virtual Card Platform
Extend’s web and mobile app offer businesses a comprehensive suite of features, including:
- Secure Vendor Payments: Unique virtual cards for each transaction to minimize fraud.
- Real-Time Expense Management: Control and track employee spending instantly.
- Automated Reimbursements: Reduce administrative burden for finance teams.
- Subscription Payment Automation: Manage recurring payments with ease.
- Effortless Client Expense Reconciliation: Simplify accounting with automated bill-backs.
- Tail Spend Visibility: Track and manage overlooked smaller purchases.
As digital transformation accelerates, businesses demand smarter, more secure financial tools. Extend and Visa’s collaboration is a crucial step toward modernizing B2B payments, ensuring middle-market firms have the flexibility and security needed to scale.
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