The introduction of Visa Platinum Business Debit cards has been announced by Bulgaria-based Fibank, which aims to provide better solutions to its customers and manage company cash.
Fibank customers who get this notification will have access to a variety of benefits, including safe and effective cash back, pleasant travel insurance for overseas trips, and customized and optimized solutions.
Corporate Visa Business Debit cards are already available from Fibank at all of its branches, including those in Sofia and other cities throughout the nation. The cards may be issued to oversee the particular business and the people who have been given permission by the organization. They are given out without charge upon transaction in Bulgarian and international commercial establishments.
By using Visa Platinum Business Debit, firms may pay for business expenses quickly and securely, which greatly simplifies accounting and control. When an employee has a corporate debit card from the financial institution, they can pay on-the-go and securely report to management quickly and easily. Notifying Fibank of any loss or theft of the card guarantees the protection of the account’s total amount of funds. Furthermore, the cards will be promptly revoked and replaced, and instant access to another account will be granted.
Along with participation in a cash back program, Visa Platinum Business Debit cards will refund 0.2% of turnover every six months after a user reaches a minimum of BGN 10,000. Additionally, they get up to $15,000 in travel insurance from Generali when they travel overseas. Additionally, customers will be able to utilize the Louge Key program to gain access to corporate airport lounges and receive exclusive deals on a variety of hotels across the globe.
Visa’s most recent development strategy
In the past several months, Visa has announced a number of partnerships and product launches that span numerous global regions.
Enfuce, a card issuing and processing company based in Finland, stated at the beginning of December 2023 that it will be extending its partnership with Visa to introduce the latter’s Fleet 2.0 solution and service. In June 2021, Enfuce and Visa began their strategic partnership, with the former seeking to develop a scheme that would enable European fintech companies to provide their payment card products to their clientele. The news release from that time stated that Enfuce was allowed to provide their joint, future clients and partners the Visa Fleet 2.0 solution because of the new certification.
Benefits from the new tools included comprehensive financial reporting and improved operational efficiency by consolidating transaction data (i.e., bought goods, unit prices, and related VAT) onto a single card and using real-time data to support fraud prevention measures. Restrictions on particular categories of purchases also gave businesses more control over how their cards were used, decreased the possibility of improper spending, and enhanced security thanks to Enfuce’s use of secure EMV technology and three-digit authentication techniques.
Visa and Oxfam America had declared earlier in the month that they planned to expand the B-READY project to offer preventive financial aid in four high-risk areas. Visa and Oxfam America announced in a press release at the time that they intended to work together to expand Oxfam America’s Building Resilient, Adaptive, and Disaster-Ready Communities project. The project’s goal is to provide real-time, secure, and efficient money movement as well as relief payments to people and businesses in the Philippines, Colombia, Kenya, and Puerto Rico.