Barclaycard Payments has enhanced its offerings for Precisionpay Go customers, enabling them to now add a Precisionpay Go virtual Visa card to Apple Pay and use it to seamlessly and securely pay for business-related expenses.
The Precisionpay Go app for iPhone and iPad is accessible to both new and existing business customers and is available for use and deployment by organisations in a host of countries, and employees will be able to pay for online business purchases in Pound Sterling, Euro, and US Dollar.
As modern ways of working continue to evolve, employees increasingly need to make ad-hoc business-related payments, whilst on the move, on different devices and in a range of online and face-to-face-settings, whether that be when travelling, booking accommodation or buying supplies. Using a Precisionpay Go virtual Visa card with Apple Pay enables quick and easy payments by removing the requirement to carry physical cards when paying in-store, while also reducing the time needed to fill out expenses.
The solution comes as new research by Barclaycard Payments, reveals that more than three quarters of corporate businesses in the UK (80 per cent) and SMEs (76 per cent) now accept payments through digital wallets, demonstrating the demand to pay with virtual methods in favour of more traditional cards.
With the Precisionpay Go app, employees can request a virtual Visa card to use for business expenses. Once approved by the business, the virtual Visa card can quickly and easily be added to Apple Pay, allowing them to make payments on the iPhone, iPad or Apple Watch immediately.
Precisionpay Go with Apple Pay, allows users to make face-to-face payments with a range of businesses instantly, without needing to go into the office. To pay in-store, customers simply hold their iPhone or Apple Watch near a payment terminal to make a contactless payment. It also enables a safer way to pay, as every Apple Pay purchase is authenticated with Face ID, Touch ID, or device passcode, as well as a one-time unique dynamic security code.
Barclaycard Precisionpay Go allows users to:
- Streamline business travel: As more workforces operate remotely rather than from one central office, Precisionpay Go allows UK and international businesses to deploy cards for single or ad-hoc use. Employees can access virtual payment cards through Apple Pay app on iPhone, iPad or Apple Watch, helping to make expenses easier to manage and report, with the ability to group expenses from a trip or project together.
- Speed up B2B payments: Paying for business services or products online, or when working remotely has never been a smooth process. Precisionpay Go allows businesses to approve ad-hoc B2B payments whilst employees are on the move.
- Increase visibility of business payments: Traditionally, businesses don’t have a holistic view of company spending until after the expenses have been submitted. By implementing Precisionpay Go, businesses will have visibility of spending as soon as a payment is made.
- Reduce environmental impact: By implementing virtual cards and digital processes, companies are able to reduce plastic and paper usage by making virtual transactions.
Marc Pettican, President, Barclaycard Payments said: “As hybrid working becomes the norm, businesses must ensure they have the right tools in place to support their workforce.
“Precisionpay Go has been designed to save companies and their employees time and resource. It responds to employees’ increased demand for convenience in the workplace, with innovative payment technology that they are used to using in their everyday lives.
“While e-commerce payments soared during lockdowns, our data shows that face-to-face payments using digital wallets and contactless payments are edging their way to the top, so businesses need to ensure they are providing a solution that caters to online and on-the-go payment options.”
Cathy Dargue, Client Director, UK & Ireland, Visa said: “We are proud to be supporting Barclaycard with this evolution of Barclaycard Precisionpay Go. The new digital experience will not only make it easier for employees to pay for expenses, the virtual Visa cards will also create efficiencies for companies to improve the expense process by giving them greater control and visibility, while meeting the demands of a hybrid workforce.”
Precisionpay Go is available exclusively with Visa, and available to download from the App Store. Find out more about Barclaycard and Precisionpay Go here.
Barclaycard, part of Barclays Bank PLC, is a leading global payment business that helps consumers, retailers and businesses to make and take payments flexibly, and to access short-term credit. In the UK we process nearly £1 in every £3 spent using credit and debit cards, and in 2021 we processed over £270bn in transactions globally. We also partner with a wide range of organisations across the globe to offer their customers or members payment options and credit.