Thursday 29th January, 2015

Invapay has signed an agreement with VISA to work in eleven Asia Pacific markets as it continues its ambitious growth plans.

Visa has launched a new data and invoice management platform in the region and will use Invapay as the payment and reconciliation engine. The solution will help businesses to overcome the challenges they face in accounts payable and receivables management.

In addition, Visa’s data and invoice management platform combined with Invapay’s payment and enhanced invoice data engine, will help organisations overcome inefficiencies stemming from lack of automation. The technology will remove time and effort spent on invoice matching and payment reconciliation for both buyers and sellers.

"Visa has a significant focus on digitisation of B2B payments”, said Olivia Leong, Head of Commercial and Prepaid Products, Visa, Asia Pacific. "Our endeavour is to simplify supply chain for organisations by removing some of the pain points involved in payables and receivables processes. Paying through a Visa 16-digit account delivers extended payment terms for a buying organisation."

Visa and Invapay have started the technology rollout in key Asia Pacific markets. Initial program deployment is planned for Q1 2015.

The agreement will cover eleven Asia Pacific countries; Australia, India, New Zealand, Hong Kong, China, Singapore, Thailand, Malaysia, Indonesia, Philippines and Taiwan.