23 Oct Visa Helps U.S. Small Businesses Increase Purchasing Power with New Infinite Business Portfolio
Designed for fast-growing small businesses with higher spending needs,Visa’s new card portfolio offerings include premium rewards and productivity benefits
SAN FRANCISCO–(BUSINESS WIRE)–In support of growing small businesses (SMBs) across the globe, Visa (NYSE:V) today announced Visa Infinite Business, the expansion of its business card product suite in the United States. Complementing Visa’s Signature Business and Business card products, Visa Infinite Business will provide high-spend SMBs in the U.S. with a rich set of protection, travel and lifestyle and business-centric benefits to support the modern small business owner and its employees as they pay and get paid.
“Visa is a true advocate for the 30 million SMBs in the U.S.1 With Visa Infinite Business, we have developed an all-encompassing offering that empowers and rewards small business owners for pursuing their passion,” said David Simon, senior vice president, global head of small business and medium enterprises, Visa. “We aim to provide small business owners with peace of mind and value to help keep their businesses secure, competitive—and ultimately, drive growth.”
Tailored Small Business Owner Benefits
Reliance on electronic payments is on the rise, with 52% of SMBs in the U.S. regularly leveraging credit cardsfor their businesses2. The Visa Infinite Business portfolio was designed with direct input and research from high-spending SMBs in the U.S. The result is a premium product that addresses specific challenges and needs of SMBs for protecting their business, earning and redeeming travel perks and enhanced services.
More than 60% of high spend SMBs are interested in transitioning to a new card with benefits that meet their needs3, and Visa Infinite Business is designed to address critical pain points by offering a tailored solution, which includes*:
Higher credit lines
Travel protection: trip delay, travel accident, travel emergency assistance
Accounting software integration
Supporting Small Businesses across the Globe
As the world’s leader in digital payments, Visa provides a full suite of payment services designed to help SMBs pay and get paid, including Visa Business credit and debit cards, business reporting, payment controls and Visa SavingsEdge. Part of Visa’s ongoing commitment is partnering with global entities to enable the development of end-to-end solutions for each SMB segment and their varying needs. Over the last year, Visa’s SMB partnerships include: Kabbage, a cash flow technology company that provides a fully-automated lending platform for small businesses; and Yelp, a business directory service that connects people with great local businesses.
As a brand and a business, Visa has always stood for making a positive and transformational impact on the world, with many initiatives focused on supporting SMBs, including:
She’s Next, Empowered by Visa, is a global initiative to support and champion women in their efforts to run, fund and grow their SMBs.
The Visa Back to Business Project supports SMBs following natural disasters with a tool that enables consumers to locate and support affected SMBs.
The Visa Everywhere Initiative is a global, open innovation program that tasks startups with challenges to solve the future of payments and commerce. More than 6,000 startups from over 100 countries have applied, collectively raising $2.5 billion in capital.
For more information on Visa Infinite Business, please contact [email protected].
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device, for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visa.com/blog and @VisaNews.
1 2018 Small Business Profile, U.S. Small Business Administration
2https://www.fedsmallbusiness.org/medialibrary/fedsmallbusiness/files/2019/sbcs-employer-firms-report.pdf3 2019 Visa Premium Small Business Credit Card Study [750 U.S. small business surveyed]
* Certain limitations, terms and conditions apply for each benefit