Mesh, a B2B payments firm, has partnered with Visa to enable acceptance of cross-border payments using virtual prepaid commercial cards.
Suppliers and service providers will have access to Visa virtual cards. The businesses will also benefit from the speed and transparency of the Mesh payment platform, said the firm.
Cross-border payments are usually slow and provide less visibility into the transaction information. The new Mesh service is intended to simplify cross-border trade.
Mesh co-founder and CEO Oded Zehavi said: “SMBs are going global faster than ever, which is fuelling innovation in this space. By working together with Visa as our preferred partner, we are taking the complexity out of payments.
“With Visa’s global reach and our advanced technology platform, we are enabling payment providers and merchant acquirers to offer all types of businesses globally a frictionless B2B payment option that brings balance into commercial payments.”
Mesh offers B2B payment service for small businesses. Suppliers in emerging markets can use the service to enable buyers in developed countries to pay via Visa virtual commercial cards.
The Mesh platform is said to cut transaction processing costs and payments are automatically processed on the suppliers’ existing acceptance platform.
Mesh partners with payment service providers to optimise the process for small and midsize businesses (SMBs). It also allows acquirers and payment partners to obtain payment volume and boost revenue.
Visa head of B2B Partnerships Taira Hall said: “Mesh delivers a unique solution that simplifies the cross-border payments experience for businesses needing to pay their global suppliers.”
Recently, Visa collaborated with fintech startup Open for a new business card integrated with expense management and subscription management tools.