Visa Inc. has announced the general availability of its new Visa Commercial Solutions (VCS) Hub, a platform designed to transform commercial payments for issuers and fintechs on a global scale. The VCS Hub is positioned as a tool to provide a seamless experience for users, incorporating next-generation artificial intelligence capabilities to simplify complex processes.

The platform offers an end-to-end payables solution, supporting full invoice and supplier payments, as well as flexible ad hoc payments. By integrating payment capabilities into business applications such as accounting and enterprise resource planning (ERP) systems, the VCS Hub utilises Visa's open application programming interfaces (APIs) to streamline operations.

Key features of the VCS Hub include AI-powered payables, embedded payments, advanced reporting and insights, and personalised user experiences. Visa aims to "democratize access to commercial payment technology" by consolidating fragmented systems into a single AI-powered ecosystem. The VCS Hub is expected to enhance commercial payment solutions with generative AI (GenAI) at its core, potentially transforming business operations.

Gloria Colgan, Senior Vice President and Global Head of Product at Visa Commercial Solutions, commented on the launch: "Visa is not just modernizing commercial payments, we’re reinventing them. With GenAI at the heart of the VCS Hub, we’re giving our partners the tools to amaze their clients, unlock new revenue streams and shape the future of money movement."

Visa is currently accepting new issuers and fintech consultations to explore the capabilities of the VCS Hub. The platform is designed to integrate seamlessly with existing systems, offering advanced functionalities to enhance the efficiency and effectiveness of commercial payments. .