Mesh has announced a collaboration with Visa that is designed to help suppliers and service providers around the world accept payment using Visa virtual prepaid commercial cards via the Mesh payment platform.
Traditional cross-border payments are often slow, with very little visibility into when the money is likely to arrive, which invoice it covers, or what the final transaction cost will be. These uncertainties are driving some businesses to embrace fintech alternatives for cross-border B2B payments.
"SMBs are going global faster than ever, which is fuelling innovation in this space," stated Oded Zehavi, co-founder and CEO of Mesh. "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."
"This is a transformational time in the cross-border B2B payments industry," said Taira Hall, head of B2B Partnerships at Visa. Mesh delivers a unique solution that simplifies the cross-border payments experience for businesses needing to pay their global suppliers."
Mesh is a global B2B payment service that has been built for small businesses and powered by payment service providers (PSPs). The Mesh solution allows suppliers in emerging markets to enable buyers in developed countries to pay through a frictionless process that leverages Visa virtual commercial cards. Mesh reduces the cost of transaction processing while payments are processed automatically through the existing acceptance platform. Mesh partners with payment service providers globally, streamlining the process for SMBs and enabling acquirers and payment partners to capture payment volume and drive additional revenue.
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