Visa Is Expanding Its Fleet Cards to Include Tokenization and Custom Provisioning

Visa will soon add tokenization and custom provisioning for mobile transactions to its Fleet cards, enabling issuers and FinTechs to integrate encrypted and tokenized card information into Apple Pay mobile wallets.

Visa is adding tokenization and custom provisioning for mobile transactions to its Fleet cards, enabling issuers and FinTechs to integrate encrypted and tokenized card information into Apple Pay mobile wallets, according to a new article by Gloria Colgan, global head of products, Visa Commercial Solutions, on LinkedIn.

Read More: Visa's New Capabilities Enable Issuers to Quickly Deploy Payer Data for Tokenization

The enhancements will be made generally available "soon," according to the article.

Announced Thursday (March 13), the capability allows fleet data tags to be provided during the token provisioning process so that they and the token payment data can be passed to the point of sale, according to the article. It will also enable digital credentials to be pushed into mobile wallets, card-on-file merchants and Click to Pay to reduce the time to market.

"This innovation solves for a clear pain point within fleet today and allows for a plethora of client benefits, including instant issuance, a more seamless user experience for drivers, and robust controls and provisions for fleet managers," Colgan said in the article.

As a U.S.-based issuer-processor and program manager, Highnote participated in a pilot of the new enhancements from April to November. The enhancements help "put the power of payments into the hands of fleet drivers everywhere," according to the article by Highnote CEO and co-founder John MacIlwaine.

"The world of fleet payments has represented the biggest opportunity to benefit from modernization. We quickly learned that we could move faster and build on existing capabilities to deliver more value to clients," MacIlwaine said in the article.

Digital wallets have introduced a more streamlined, secure and efficient way of conducting B2B payments.

The integration of virtual cards with digital wallets gives chief financial officers the ability to control corporate spending, especially unplanned spending. A virtual corporate card can be provisioned directly to a digital