Correct Answer :   IndusInd Bank

IndusInd Bank on Thursday, (14 September 2023), announced the launch of the ‘Virtual Commercial Card' to redefine cross-border transactions for corporates and travel agents.

* In a tie-up with Visa, this virtual card has additional layers of security which grants the users control over their international expenses, making it a safe and hassle-free experience for the customers, IndusInd Bank said.

* Launched as ‘Virtual commercial Credit Card’, this offering is tailored to cater to the requirements of corporates and travel industry, who make numerous bookings in multiple foreign currencies.

* "With the Virtual Commercial Cards, these commercial users can generate virtual cards or credentials in foreign-denominated currencies as well, safeguarding the parent card number, ensuring utmost security for transactions. Each virtual card can be fully customised with transaction-specific limits and even the expiry dates can be defined to ensure secure and seamless payment experience," IndusInd Bank said.

* Ramakrishnan Gopalan, Head – Products, India & South Asia, Visa said, “Providing a high degree of control, reduced complexity and complete transparency, this commercial card solution built on the Visa Payables Automation platform also allows for multiple user access and better expense management, while providing the highest standards of transaction security.”

* Sheetal Lalwani, Cofounder & COO, Juspay said, “We’re making it easy for the buyers and suppliers in the corporate & travel industry to streamline their payments processes with our intuitive, frictionless, tokenisation-cum-AFA regulation compliant, and maker-checker workflow based Virtual commercial Card solution in partnership with Indusind Bank and Visa."..

Source : CNBC