Asia-based B2B digital payments platform SUNRATE has partnered with multinational financial services corporation Visa to launch virtual corporate cards. Following this collaboration, SUNRATE will offer their travel stakeholders another option for making payments to their own partners, such as hotels or airline, using the new virtual corporate cards.

This launch will offer SUNRATE’s customers new online travel solutions and services. The new virtual corporate cards allow the users and online travel agencies to set a spend limit and define a certain usage of their money. According to the company officials, this launch will introduce solutions and services that will make it easier and safer for businesses and customers to manage their spending, as well as making the B2B (business-to-business) payments seamless and secure.

SUNRATE’s corporate cards Singapore-based digital payment platform SUNRATE was created to offer flexible, safe services and products to their clients, together with high-level compliance and security systems. The features include international payments, risk management, global collection, B2B trade, corporate cards, and others. The company’s corporate cards are designed to their customers’ payment needs and preferences.

The product facilitates real-time and batch issuance using the company’s platform and API’s. It has the capability to support global currencies such as USD, AUD, EUR, and GBP. Furthermore, the clients can set their own card limits and dates of expiration, as well as choosing to use either a single card or multiple cards with an account reconciliation process.

  Visa’s strategy and expansion Headquartered in California, Visa is an American financial services corporation that offers digital payment services and electronic funds transfers across the globe, to multiple clients, customers, merchants, business, institutors and strategic partners. Visa had numerous partnerships in 2022, covering multiple geographies. The latest collaboration was announced in early January of 2023, when Visa and Tappy Technologies partnered with Abu Dhabi Islamic Bank  to launch tokenized, contactless payment methods through the options clasp and ring `ADIB PAY`.

Following this, ADIB’s customers and cardholders can make contactless payments using their rings, bracelets, or watches, without needing to carry their physical, plastic cards. The new tokenized contactless payments clasps can be attached to numerous wrist wearables, instantly turning them into a smart payment device. On late December 2022, Visa has proposed a new design for blockchain accounts.

This could potentially allow Ethereum users to perform auto-payments from a self-custodied wallet. In order for this to be archived, Visa aims to leverage Account Abstraction, which is a proposal that attempts to combine customer accounts to smart contacts into just one Ethereum account type. This will happen by making user accounts function like smart contracts.

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