Access Bank has announced a strategic partnership with Visa, a global player in digital payments, to introduce a new Corporate Credit Card solution tailored specifically for medium to large enterprises in Nigeria.
This collaboration aimed to revolutionise the way Nigerian corporations manage their finances by offering a dual-purpose tool that streamlines working capital management and digitises 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 optimise their cash flow significantly. By utilising the card, organisations 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 digitised expense tracking. The card allows businesses to monitor operational expenses (OPEX), including employee travel, entertainment, and organisational 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.
Head of Cards Business, Access Bank, Florence Owuor, “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 optimisation. 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.”
A key feature of the partnership is the integration of the Access Bank Visa Spend Clarity web portal and mobile app. This platform offers organisations 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.
Vice President and Cluster Head for West Africa at Visa, Andrew Uaboi, said: “Visa is committed to digitising payments and providing businesses with the tools they need to thrive in a digital economy.
“The Access Bank Visa Corporate Credit Card solution brings seamless, accountable, and data-driven expense management to medium and large organisations, 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 optimising organisational expense and working capital management.
