- Access Bank has partnered with Visa to launch a Corporate Credit Card solution for medium to large enterprises in Nigeria, offering up to 45 days interest-free credit to optimize working capital and cash flow.
- The card enables digitized expense management for operational costs such as travel, procurement, and fuel, supported by Visa Spend Clarity for real-time tracking and granular insights across employees, branches, and departments.
- The partnership aims to enhance corporate governance, reduce fraud risks, and promote financial efficiency, with monthly webinars planned to educate CFOs and treasurers on leveraging the solution for strategic growth.
Access Bank, a leading full-service commercial bank, has announced a strategic partnership with Visa, the world leader in digital payments, to introduce a new Corporate Credit Card solution tailored specifically for medium to large enterprises in Nigeria.
This collaboration aims to revolutionize the way Nigerian corporations manage their finances by offering a dual-purpose tool that streamlines working capital management and digitizes operational expenses.
The Access Bank Visa Corporate Credit Card provides a robust working capital solution, offering an interest-free period of up to 45 days.
This feature allows Chief Financial Officers (CFOs) and Corporate Treasurers to optimize their cash flow significantly.
By utilizing the card, organizations can settle supplier payments early while maintaining a healthy Days Payables Outstanding (DPO) period, providing the liquidity needed to drive business growth.
Beyond working capital, the solution addresses the critical need for digitized expense tracking. The card allows businesses to monitor operational expenses (OPEX), including employee travel, entertainment, and organizational procurement such as fuel, diesel, and office equipment purchase. By issuing cards to relevant staff and departments, companies can move away from cash-heavy processes.
“In line with our values of innovation and Passion for Customers, Access Bank is pleased to introduce the Access Visa Corporate Credit Card, designed to deliver both cash-flow efficiency and operational time optimization. With the added advantage of Visa Spend Clarity, finance teams can seamlessly manage and monitor corporate expenses in real time, all at the click of a button,” said Florence Owuor, Head of Cards Business, Access Bank.
A key feature of the partnership is the integration of the Access Bank Visa Spend Clarity web portal and mobile app. This platform offers organizations granular data and actionable insights on expenses across the entire business. It records every transaction made via the corporate card, allowing management to track spending by specific employees, branches, and departments.
This digital innovation significantly enhances corporate governance by reducing the likelihood of fraudulent claims, invoice inflation, and personal expenses being passed off as official business costs.
“Visa is committed to digitizing payments and providing businesses with the tools they need to thrive in a digital economy,” said Andrew Uaboi, Vice President & Cluster Head for West Africa at Visa. “The Access Bank Visa Corporate Credit Card solution brings seamless, accountable, and data-driven expense management to medium and large organizations, helping them make smarter financial decisions.”
To ensure businesses can fully leverage this new solution, Access Bank and Visa will host a series of monthly webinars over the coming months. These sessions are designed for Corporate Treasurers and CFOs to delve deeper into the value proposition of the card and discuss strategies for optimizing organizational expense and working capital management.