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Visa, Mastercard to Stop Commercial Card Payments via Fintech Intermediaries in India

Fintech News

The Reserve Bank of India (RBI) has directed major card networks Visa and Mastercard to pause transactions involving card-based payments for commercial services like rent or vendor payments that are processed through third-party fintech companies, according to Reuters.

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The Commercial Card Embraces A Season Of (Major) Change

PYMNTS

For businesses, the world market was thrown into volatility, yet soon, new opportunities emerged. For the corporate card, 2020 has been a season for dramatic shifts in how the payment tool is used and the value it adds to the enterprise. The year 2020 began inconspicuously — but in a few short weeks, everything changed.

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In 2019, Mobilize The Commercial Card: JPMorgan

PYMNTS

While commercial card innovation certainly accelerated in 2018, progress can always continue. Morgan Managing Director and Head of Commercial Card Product Management Naney Pandit says should be a focus this year is in mobilizing the corporate card. But so far, mobile B2B payments have been slow to take off.

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CardUp Introduces Commercial Card Solution In Asia

PYMNTS

Consumers around the world have become intimately familiar with the “card-not-present” method of payment. Now businesses in Asia have an option to embrace “card not needed” as the pandemic continues to accelerate business models. Ramsay said she believes commercial cards have been underused in Asia.

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Spend Controls Fuel Commercial Card Innovation

PYMNTS

Spend controls were the focus of innovation in the commercial card space this week thanks to feature and program launches. This week’s commercial card innovation tracker includes a rollout of the next generation of authorization controls from Comdata Inc., Mastercard Adds B2B Payment Functionality With Commercial Cards.

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JPMorgan joins Visa, Billtrust Business Payments Network

Payments Source

JPMorgan Chase has become the first card issuer to join the Visa and Billtrust Business Payments Network in an effort to streamline the delivery of electronic B2B payments for its commercial card clients.

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Mastercard Adds A2A Capability For Track Business Payment Service

PYMNTS

Mastercard has added a new Account-to-Account (A2A) service to its Track Business Payment Service , to help businesses exchange data more efficiently and perform payments across multiple rails, a press release says. The Track Business Payment Service was rolled out in the U.S.

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