Ivalua and Visa Partner to Embed Corporate Cards Into Purchasing

Ivalua and Visa have partnered to enable businesses to embed their corporate cards into any purchasing activity and gain “total control” over any pre-approved spend.

With this capability, businesses can use cards not only for traditional expenses but also for catalog purchases, invoices, subscriptions, specific projects and other purchases, the companies said in a Thursday (May 30) press release.

“We find that businesses prefer financial services integrated into their ERP/AP systems, allowing them to pay simply and efficiently without having to step out of existing workflow, and we’re excited to work with companies like Ivalua in bringing new solutions and approaches to this market need,” Clive Cornelius, head of T&E and Procurement Commercial Products, Visa Commercial Services, Europe at Visa, said in the release.

Ivalua’s unified source-to-pay platform helps business manage all categories of spend and all suppliers, according to the release. The platform is cloud based and powered by artificial intelligence (AI).

In partnership with Visa, Ivalua can help organizations maximize card usage and increase rebate opportunities, the release said. The collaboration also helps them release the cash locked within payment cycles, drive process efficiencies and maximize opportunities with suppliers.

With Ivalua’s solution, organizations can identify both suppliers and categories of spend and then reconcile usage back to a user or budget the next day, unlocking more card usage, maximizing rebate opportunities, enhancing card security and preventing misuse, per the release.

“Unlike alternative solutions, Ivalua enables its clients to securely manage card usage without compromising potential cash rewards,” Suman Raju, chief financial officer at Ivalua, said in the release. “As cash flow remains critical and saving becomes increasingly important, we are delighted to partner with Visa to unlock new levels of payment automation and maximize rebate opportunities for our clients.”

In another recent partnership in this space, Avidbank said May 14 that it has tapped CorServ to help launch a new credit card program for the bank’s commercial customers.

In April, B2B credit card platform Pliant said it is planning to expand after raising $19 million. Pliant’s cards-as-a-service (CaaS) offering lets its partners launch their own credit card programs to serve their customers.

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