Nearly half of growth-oriented companies in Asia Pacific – those with revenues between $50 million and $1 billion – are not utilizing available working capital tools, not due to a lack of need, but because existing financial products fail to align with their operational realities, according to a new report from Visa and PYMNTS Intelligence.
The findings, released Tuesday, highlight a significant disconnect between the financial services offered by banks and the evolving needs of businesses across the region. CFOs are seeking more flexible access to cash, tailored to specific industry sectors, a demand that current banking solutions are largely failing to meet.
“What we are hearing from CFOs across Asia Pacific is extremely clear. The region’s working capital realities have shifted. Yet, a lot of the financial solutions haven’t necessarily kept up,” said Chavi Jafa, senior vice president and head of commercial and money movement solutions for Asia Pacific at Visa. “If Asia Pacific CFOs had a blank slate, having very flexible, tailored sector-specific solutions that can meet the operational needs of a particular industry sector would come out as absolutely number one on their list of must-haves.”
The Visa Working Capital Index, which surveyed approximately 1,500 CFOs across ten industries and five regions, also revealed a divergence in performance based on how working capital is utilized. Top-performing CFOs are proactively leveraging working capital to capitalize on unexpected opportunities, rather than solely focusing on risk management.
These high-performing companies are employing strategies such as early payment to suppliers to secure inventory and discounts, and to quickly respond to emerging market conditions. Commercial and virtual cards are central to this approach, functioning as flexible funding mechanisms that bridge short-term cash flow gaps and reduce reliance on traditional, more expensive borrowing methods.
Data from Visa and PYMNTS Intelligence indicates that companies accepting card payments to accelerate collections can reduce revenue lost to late payments by roughly 10%, a factor that correlates with higher Working Capital Index scores.
The report emphasizes that Asia Pacific presents a unique environment characterized by rapid growth and high-velocity business cycles. Industries like manufacturing and construction, which often operate on project-based revenue with irregular payment schedules, require financial solutions specifically designed for their unique cash flow patterns. Generic financial products are proving inadequate.
CFOs are increasingly seeking self-service capabilities, desiring access to capital through digital interfaces on their own terms. This shift is driving demand for continuously available resources, rather than traditional, negotiated financing arrangements. Digital channels, including virtual cards, are enabling quicker access to short-term cash, streamlined approvals for early payments, and reduced administrative burdens.
Artificial intelligence is also emerging as a key component, with CFOs requesting tools that can forecast cash positions, assess supplier risks, and provide recommendations on payment timing, rates, and currency exposure – all integrated within existing cash management platforms.
Visa is responding by collaborating with banks across the Asia Pacific region to develop industry- and country-specific solutions, expanding commercial and virtual card capabilities, and integrating AI-powered tools. The company plans to launch pilot programs for Visa Intelligent Commerce across the region in early 2026, building on existing partnerships and initiatives. These efforts aim to embed financing directly into payment systems, enabling faster supplier payments, stronger supply chains, and real-time responses to AI-driven insights.
The adoption of virtual cards is being driven by their instant access to credit, the data they generate for cash flow forecasting, and their fully digital nature. When suppliers accept cards, their days sales outstanding cycle is shortened, improving financial performance on both sides of the transaction.
