Visa has launched its Visa Commercial Integrated Partners program to enhance collaboration between fintech companies and financial institutions by providing pre-integrated digital payment solutions.  

This initiative seeks to streamline the integration of Visa’s commercial products into various business applications, such as ERP and fleet management systems, to reduce the time and resources traditionally required for such integrations, according to the company’s May 21 release.

An early participant in the program is Car IQ, which specializes in fleet and vehicle technology. Through this partnership, businesses can enable in-app payments for fuel and other services using virtual cards, eliminating the need for extensive supplier onboarding, an approach that has the potential to save 18 to 24 months of due diligence and integration efforts. 

Darren Parslow, global head of Visa Commercial Solutions noted in the release that “by leveraging our network and commercial APIs, we are enabling our partners to innovate faster, reduce development and distribution costs and deliver superior payment experiences to their clients.”  

The Visa Commercial Integrated Partners program is designed with a global framework, ensuring consistent standards in contracting, data privacy, and security, while also allowing for local customization to meet specific market needs.