Visa is bringing new capabilities to Visa Business Reporting (VBR), a solution that helps issuers assist their small business customers track their spending on-the-go. Among several exciting new app-based features is the ability for small business owners to remove paper from their lives with receipt-capture technology. Now, with the VBR Receipt app, enrolled small business owners tired of tracking numerous receipts can now use their phone to capture an image of a paper receipt following the transaction. The receipt image then flows through to Visa Business Reporting as well as optionally to Intuit Quickbooks Online or Xero.
A study by Phoenix Synergistic showed that 71% of business credit card prospects would like to have a mobile receipt management tool. Now, Visa is excited to deliver this capability.
“Visa is constantly trying to improve the digital payments experience for small business owners and this new capability is one step in moving them towards a paperless world where business management information is at their fingertips,” said David Simon, Visa’s global head of small and medium enterprises.
Among other new functionality available in the app is near-real-time transaction notifications that can help ensure peace-of-mind for business owners concerned about fraud or employee card misuse.
These new capabilities are now available to business owners via Visa participating issuers that currently offer VBR to their small business cardholders. VBR is a simple, powerful financial tool that allows enrolled Visa Business cardholders to manage expenses efficiently. With a robust set of graphical charts and reports, enrolled small business cardholders can access valuable insights and gain greater control of their business’ finances. VBR provides convenient access to Visa transaction data, enabling enrolled small businesses to track and analyze spending and stay on budget.
Businesses with eligible Visa cards can download “Visa Business Reporting Receipts” from the Apple or Google app stores.
Watch the overview of the VBR and the new functionality in action here.